Following are the some of the ideas you can build on:

DeFi

Leveraged Liquidity Baking

Picked by any team: Yes (1)

What is Liquidity Baking : https://news.tezoscommons.org/liquidity-baking-bridging-deep-liquidity-for-tez-3a3a21ccc3b4#:~:text=Liquidity baking is a feature,two assets%2C tez and tzBTC.

Reference: https://tezblock.io/swap A similar small implementation based on kUSD: https://levtez.netlify.app/

A Lending/Borrowing Platform

Picked by any team: Yes (3)

A Segmented CFMM (Uniswap V3 style AMM)

Picked by any team: No

Hints: we recommend making use of the existing project in the Checker codebase.

A Mobile DEX Aggregator

Picked by any team: No