Viction: 'We want to create alpha, instead of chasing them'

More than 300 applications, 36 impressive presentations during Demo Days, nearly 3 months of searching, 9 winning teams in 3 categories Social, Gaming and DeFi & Stablecoin and a total prize pool of 300,000 USD.
These are notable numbers from the Viction Horizon Startup Hackathon organized by Viction - Ninety Eight's Layer 1 zero gas blockchain.
Also this February, winning teams from around the world will participate in a special experience tour in Vietnam organized by Viction and sponsored by Arche Fund. Here, they will have the opportunity to witness firsthand the dynamic crypto space in Vietnam and connect with builders in the region.
The next 9 potential projects on Viction
The 9 winning teams include:
Hakifi - First prize in the DeFi & Stablecoin category - is a decentralized risk prevention protocol, specializing in insuring users' losses with spot assets and futures positions. The protocol provides simple, automated tools with intelligent algorithms to empower traders and promote responsible investing.
ApeState - Second prize in the DeFi & Stablecoin category - is a real estate investment platform that combines decentralized finance with real-world asset trading. The protocol helps democratize global real estate investing with the combination of Chainlink's web3, Viction and oracles technology.
Doldrums - third prize in the DeFi & Stablecoin category - is a protocol that allows the issuance of Delta-Neutral stablecoins to help solve the problem of liquidity fragmentation. The protocol provides a seamless user experience with Viction's zero gas transactions, Omnichain Fungible Token V2 multi-chain feature, and enhanced stability for collateral-based stablecoins.
Buzzkill - 1st place winner in the Gaming category - is a macroeconomic NFT strategy game in which players stake bees (in-game units), search for resources and participate in raids to collect HONEY tokens. The game is also an opportunity for users to explore the fascinating world of digital beekeeping.
Town Story Galaxy - Second prize in the Gaming category - is a crypto social network game that offers a play-to-own experience (play to own) NFTs in the form of in-game items. The game offers cross multi-chain compatibility and F2P/F2O models for collecting and storing crypto assets.
Joy Gotchi - 3rd place winner in the Gaming category - is a blockchain-based virtual pet game inspired by Tamagotchi. Players will hatch, raise and care for their Joygotchis pets - represented as verifiable blockchain assets. Neglecting a pet's needs can cause them to die, and caring for them requires users to purchase food with JOY tokens.
Givefund - First Prize in the Social category - is a crypto fundraising platform that allows individuals and non-profit organizations to launch and support fundraising campaigns. The protocol leverages blockchain technology to facilitate global giving and empower users to make a difference.
Atbash - runner-up in the Social category - is a privacy-focused electronic voting platform for DAOs and community-driven projects. The protocol ensures secure and transparent voting through advanced encryption technologies such as Zero-Knowledge Proofs and Homomorphic Encryption.
Vicbot - third winner in the Social category - is a Telegram trading bot designed for alpha traders. The protocol provides a fast and seamless trading experience by leveraging the Viction chain, MEV protection, and a user-friendly interface.
Running after money is a very tiring process
These winning projects will be the next seeds to create a community of talented builders on Viction.
In 2024, instead of implementing a large number of projects, Viction aims to select about 20 - 50 projects with products that have a significant impact and the potential to become big names in the industry", Mr. Le Thanh - said Board member of the Viction Foundation and founder of Ninety Eight.
2024 promises to be a year of explosion of activities on Viction. To increase connectivity among the developer community, Viction plans to implement mechanisms such as DAO voting or community forums. In addition, the project aims to engage with local builders in major markets such as Vietnam, Thailand, Cambodia, Indonesia, China, Korea...
In terms of technology, Viction pays special attention to network stability, scalability and developer resources. One of the upcoming protocols on Viction is the Stake derivatives protocol - with hardware solutions that help validators avoid errors and ensure transactions go smoothly.
“The question is not how to compete with other Layer 1 and Layer 2, but rather identify activities that make Viction better. This is how we build a strong community as well as a strong Layer 1," said Mr. Le Thanh.
If you look at Solana, the ecosystem is currently trading at a value of about 30 billion USD FDV. The founders of Ninety Eight once invested in Solana when the project was only about 20 million USD FDV, at that time the ecosystem had almost nothing.
And according to Mr. Le Thanh, almost all the "alpha" and upside (increasing prospects) in crypto were captured when everything was still very small.
“Viction is not big right now, but as the ecosystem develops all the upside may be gone. Upside is only for those who commit their time when things are small. This is why we think instead of chasing alpha elsewhere, why not focus on the things we can control and create that alpha?", Mr. Le Thanh asked.
Also according to the founder of Ninety Eight, this mindset will be beneficial for the current market landscape - where there are thousands of blockchains and people are spinning money every day in the hope of making a profit. “Constantly chasing money is a very tiring process.
It would be better if you spent time building a really good product, as well as enjoying memorable moments with people who are also committed to long-term dedication to that product," Mr. Le Thanh concluded.
And the Ninety Eight team is doing this with Viction.