HONG KONG, April 15, 2022 (GLOBE NEWSWIRE) — Bering Waters Group — a number one OTC, enterprise, and expertise group primarily based in Hong Kong — has awarded $30,000 to a workforce of blockchain builders in Poland who’re boosting liquidity within the Solana token market and making it simpler to purchase and promote the proof-of-history digital forex.
Invariant, a peer-to-peer Automated Market Maker (AMM) and Decentralized Exchange (DEX), was judged by Bering Waters to be the perfect Polish-based venture within the world Solana Riptide Hackathon. The prize, sponsored by Bering Waters and one in every of 57 awards introduced by Hackathon organizers, will assist the continued work of Invariant to extend liquidity within the Solana ecosystem.
The award is a part of a long-term technique for Bering Waters: Building a stronger developer neighborhood inside Poland.
“My career in finance and technology has taken me all over the world, but I was born in Poland,” mentioned Ewelina Leszczak, Founder and CEO of Bering Waters Group. “It gives me great pride to see Poland emerge as a major hub of blockchain innovation and the whole team at Bering Waters is committed to supporting this growth.”
Invariant — which will be discovered on-line at https://invariant.app — is a peer-to-peer system for exchanging property on the Solana blockchain. The firm’s next-generation protocol is applied as a set of sensible contracts that prioritize effectivity, censorship resistance, safety, and self-custody, with a deal with decentralization and efficiency, because of a concentrated liquidity characteristic.
“When factoring in all of our judging variables, Invariant was the clear winner of the prize,” mentioned Yuriy Kashnikov, Bering Waters Tech Lead. “This project builds an AMM DEX focused on concentrated liquidity that supports a long list of wallets, something sorely needed on blockchain. The developers did amazing work on its codebase, and they have plans to build this project long after this Hackathon is behind them.”
“With the funds we received from Bering Waters, we are working to transform our project from good to great on Solana in the next several months,” mentioned Wojciech Cichocki, CEO of Invariant Labs. “It’s great that a global player like Bering Waters Group sees untapped potential in tech talent on the Polish market and directed its prize toward developers like us. We have talent in our country and are thrilled they are working to help all of us grow.”
The Bering Waters judging workforce, headed by Kashnikov and Michael Weinrub, Tech Business Lead, checked out a number of components, together with market readiness, workforce presentation, value-added to the Solana ecosystem, and the winner’s future imaginative and prescient and objectives for the venture past this Hackathon.
“With the $30,000 prize, Bering Waters ensured that developers and teams in Poland building exciting projects on the blockchain today had the opportunity to use the most suited underlying infrastructure, had access to Solana, and — most importantly — a chance to receive strategic funding,” Weinrub mentioned. “We’re pleased Invariant now has a real chance to flourish.”
Bering Waters is dedicated to increasing the scale and utilization of the Solana ecosystem by a variety of initiatives, together with focused investments, companies and inside tasks. Bering Waters can also be supporting academic and mentorship packages to develop Poland’s blockchain workforce and put together native entrepreneurs for achievement on the worldwide stage.
Bering Waters has a longstanding dedication to the growth of the Solana ecosystem. For instance, in December 2020, Bering Waters led the creation of the SOLAR Bridge, a first-of-its-kind expertise to switch knowledge from the high-performance blockchain, Solana, to a everlasting and decentralized storage resolution, Arweave.
As an investor in each firms, Bering Waters was uniquely positioned to see the potential for Solana and Arweave to resolve an imminent downside for all blockchains as they scale to satisfy the wants of monetary networks.
NOTE TO EDITOR: Both Michael Weinrub, Bering Waters Tech Business Lead, and Yuriy Kashnikov, Bering Waters Tech Lead, can be found for follow-up interviews relating to this prize. Please contact firstname.lastname@example.org to schedule a dialog.
About Bering Waters Group
Founded in 2018, Bering Waters Group is a gaggle of three blockchain and cryptocurrency firms that gives a decisive benefit to its vast community of monetary establishments, blockchain firms, and high-ticket particular person buyers worldwide. The group contains the next industry-leading companies: Bering Waters OTC, Bering Waters Ventures, and Bering Waters Tech. Headquartered in Hong Kong, Bering Waters Group is delivering options that push the boundaries limiting the mainstream adoption of blockchain and cryptocurrency.
About Bering Waters Tech
Founded in 2020, Bering Waters Tech is a expertise growth and advisory enterprise cooperating in strategic methods with Bering Waters Group portfolio firms. Within the partnerships, it’s chargeable for strategic placements of developer sources to resolve the tech-talent scarcity, speed up product timelines, and create in-house modern options and applied sciences.
Image 1: Riptide/Bering Waters/Invariant
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