DeFi staking platform development
Defi staking platform development company
We are a team of professionals who specialize in the development of DeFi staking platforms and we know exactly how to minimize the risk of hacking a smart contract.
Transparency.
The development of the DeFi staking platform is based on open source software, so that everyone can verify the principles of its work, honesty, reliability and security
Economic efficiency.
DeFi platforms remove most of the intermediaries (such as inflation rate pitfalls), making financial services cheaper for end-users and more profitable for service providers.
Ease of access.
Decentralized finance offers significantly easier access to cryptocurrency financial services. Defi staking platform services
This applies to both bureaucratic and legal restrictions as well as the amount of capital and seems to be very attractive to end users.
Greater speed and flexibility.
Blockchain and smart contracts allow cross-border transactions to take place in seconds, unlike traditional banks, where the transaction can take up to several days. Not to mention the time of registration of loans, deposits, insurance, etc.
Autonomy.
DeFi users fully manage the assets.
The DeFi segment is developing rapidly, gaining interest, and has a fairly high rating in the market. Investing in it is increasingly profitable and offers a wide range of possibilities. Decentralized finance is becoming an affordable alternative to conventional financial services. There are many effective platforms for competent business management, asset management and working with tokenized securities
What are DeFi technologies?
Decentralized finance, or DeFi for short, is the latest advanced e-finance ecosystem based on public Blockchains. Similar to cryptocurrency, which is a peer-to-peer electronic money system, a new trend in this segment is serving as a fully peer-to-peer system of financial instruments in electronic format. Most of the applications are available and open to absolutely everyone. Each user of the network can interact with the ecosystem: manage assets using special applications, carry out transactions and loans.
Here is an example of the information architecture of a DeFi crypto wallet:
Among the features and advantages of DeFi solutions, it is worth noting that trading rules are necessarily prescribed in a smart contract. After signing the contract, the DeFi project is launched, while the application can work independently. An advantageous difference from the well-known financial sector is the absence of control dispatchers, as well as the need to fill out various complex forms.
How safe are DeFi?
Blockchain.
DeFi protocols are considered one of the most reliable and secure, since they are created on the basis of blockchain. The information recorded on the blockchain cannot be changed, therefore no one can falsify the data stored on it. Furthermore, the functions of managing and maintaining the health of the blockchain network are distributed among many nodes, therefore it does not have a single point of failure, making such systems less vulnerable to hacker attacks.
Where does DeFi apply?
Credit and deposit platforms.
This is perhaps the most popular application for decentralized finance. Platforms like Block Fi, Dharma, Maker DAO, Compound, and provide clients with cryptocurrency loans without the involvement of banks and regulators. Some of these services also allow not only taking loans, but also investing in cryptocurrencies at 3-10% per annum.
decentralized exchanges (DEX).
Another very popular type of DeFi platform. They allow you to quickly sell and buy virtual tokens for other tokens and fiat without a centralized intermediary and the need to keep depositing money into exchange accounts, making such exchanges more secure. More information about the features of such platforms and their development is written in the article: “How to create a decentralized exchange”.
Asset Management.
These are several decentralized wallets that function as depositories of assets that are not related to banking and/or government structures. Such services provide users with applications through which cryptocurrency holders can safely store and manage their assets. DApp, Set Protocol.
Exchange protocols.
These are decentralized smart contract-based tools that allow you to quickly and easily exchange a cryptocurrency to other exchanges and external exchangers. The user simply hands over a token and immediately receives another, just like at the bank's cash register.
"What is the Lightning Network?".
These are DeFi platforms where people can make predictions about the arrival of future events, ranging from sports betting or politics to forecasts of stock prices and exchange rates. DeFi makes these markets more accessible and more transparent because they operate on the basis of open source smart contracts, as opposed to opaque brokers and investment funds.
DeFi product development process
DeFi staking platform development is a complex task that requires in-depth knowledge of finance, blockchain, and cybersecurity. Therefore, it is better to entrust the creation of such software to a technical partner with the right staff and development experience, such as ICODA. Our company has been developing various DeFi solutions in the field of blockchain and fintech, from smart contracts to decentralized cryptocurrency exchanges. DeFi staking platform development is one of its core competencies
Business analysis
Developing a DeFi platform, like launching any other similar project, begins with business analysis. In this stage, you and your technical partner define the overall concept, tasks, technical requirements, and functionality of the project, which will help you choose the optimal technology stack and build the product architecture, as well as develop product requirements. design.
Opening / planning
At the next stage, you need to clearly define the requirements for the design and the technical component of the software being created. DeFi staking platform development design requirements involve creating a common UX strategy, multiple user personas, user flows, information architecture, low-precision wireframes, and more.
UX/UI design development
UX/UI design is an integral part of any application. In the case of DeFi staking platform development, it should be as simple and understandable as possible, since its end users are ordinary people who are not familiar with blockchain technologies and decentralized finance. Ideally, working with your service should be no different than working with traditional asset management, loan, insurance or investment applications.
