Development of web platforms for DeFi projects

DeFi is a decentralized financial instrument in which users interact directly with each other, without any intermediaries such as banks, governments and lawyers. The scope of their application is quite wide. In particular, they are often used in projects related to lending, insurance, GameFi and digital asset trading.

The security of all transactions in DeFi protocols is ensured by smart contracts — special computer scripts in which the terms of transactions are pre-programmed.

All information in such contracts is protected by cryptography, and they are executed automatically, without the participation of third parties. This gives all parties to the transaction a guarantee of security and transparency.

DeFi projects can be implemented in the form of mobile, desktop and browser applications, while web versions are the most popular due to their high compatibility — they do not depend on the operating system and can work equally effectively on all devices where a browser is installed.

The share of decentralized applications in the global financial market is growing rapidly, due to their high economic efficiency. At the end of 2021 alone, the volume of this sector increased by 1210% and reached $245.22 billion. Let’s take a closer look at the main advantages of DeFi projects:

• Automation. All processes in DeFi platforms are automated and do not require manual control or verification.
• Transaction speed and commissions. All financial transactions in DeFi are carried out in a P2P format, which can significantly increase the speed of transactions and reduce commission costs, especially if the parties are physically located in different countries and under different jurisdictions.

• Safety. There are no central points of failure in decentralized networks, which almost completely eliminates the possibility of hacking and data leakage.
• Transparency. There is no central authority in the blockchain that controls user data, which makes the system as transparent and reliable as possible.
• Global access. DeFi projects are available to all users, regardless of their geography and status. At the same time, services are provided to all network participants on equal terms.

In the development of browser-based DeFi applications, AVADA MEDIA specialists can use different technologies and blockchains. The choice of specific tools often depends on the technical features and tasks that the project will perform after the release:

• Frontend is a JavaScript programming language and Vue.js framework. + React
• Backend – programming languages ​​Python, Java, Node.js

• Blockchains – Ethereum, Tron, Solana and others.
• Smart contracts – programming languages ​​​​Solidity, Rust, a and others, depending on the blockchain.

A whole team of specialists is involved in the development of a DeFi project. Let’s take a look at how it’s done step by step.

Step 1. Information gathering

First of all, developers need to determine the goals and objectives of the project. To do this, an interview with the customer is conducted and a thorough market analysis is performed. After that, experts determine the technical feasibility of the project.

Step 2. Drawing up technical documentation

Based on the information received, technical documentation of the developed DeFi project is compiled, which includes a list of technologies that will be used in production, a description of the functionality, and an implementation plan. After that, the calculation of the timing of the cost of production is performed.

Step 3 Design and Design

The appearance of a web application has a great influence on the future commercial success of the project. The design should be convenient, logical and predictable, so that the first time a person gets to the site, he understands what actions he needs to take to complete the desired task.

To achieve this goal, first of all, the project structure, individual page mockups and navigation system are developed, taking into account CJM – the intended user path map. After that, UI designers start working on creating the external design of the site.

Step 4. Programming

Functional development is the most voluminous and time-consuming stage of production. It can be divided into two main parts:

• Frontend – creating a user interface with which end users will interact. The task of the frontend is to receive and transmit client requests to the blockchain and to the server for further processing, and then output the result in a convenient format.
• Backend – includes the development of smart contracts, which are the core of any DeFi project, the connection of crypto wallets, such as MetaMask, and the creation of the back end of a web application.

Step 5. Testing

After the technical development is completed, the DeFi web application is transferred to the QA department, where it goes through several levels of testing:

• Functionality check.
• Testing smart contracts.
• User interface usability testing.
• Checking the security and performance of the software.

To perform objective testing of smart contracts, they are placed on the blockchain test networks, where you can safely check the correctness of their work, without the risk of losing data and reputation. In case of detection of bugs, the project is returned for revision to the responsible specialists, after which it is re-tested, which allows you to make sure that it is. that the error has indeed been fixed.

Step 6. Deployment

When the DeFi platform site is ready and tested, its smart contracts are placed on the public blockchain, and the backend is on the server. After that, the project becomes available to end users.

Creating complex blockchain solutions is one of the main areas of work for AVADA MEDIA. For the production of DeFi web platforms, we have already formed teams of experienced specialists, thanks to which we can guarantee high speed and quality of project implementation.

After the development is completed, we can also take over the further technical support of the platform and its marketing development.