In the competitive world, most investors are thinking of making huge returns in a short period of time. For that, they chose the crypto space, yes. If you ask me if that is the right thing to do, absolutely. You have heard about cryptocurrencies in recent times because of the potential that they hold in the future. With the help of blockchain technologies, many platforms exist in the crypto industry.
Among the platforms, Defi staking is a smart way of investing that can return you a passive income through staking. If you haven’t gotten connected yet, let me explain in detail
What is DeFi Staking?
DeFi Staking is a platform where investors/business owners can generate passive income through the liquidity provided by the staking of digital assets. The staking process is accomplished with the help of smart contracts. Also, the Defi staking platform helps the user get rewards for staking their assets and generate liquidity for the platform, which helps users and both platform owners.
Now that you have understood the reason for choosing the DeFi staking platform, even when you compare it to other crypto-related platforms, the cost of developing this one is less.
A DeFi Staking Platform's development costs
When you come to know the cost, it may start at 14,000 US dollars. But it may not end there; the development cost will vary according to your requirements, whether you want app development, a chosen blockchain, a technical stack, an intuitive user interface, or a feature that you want to add to your DeFi staking platform.
Key factors to consider while developing a DeFi staking platform
- User onboarding
- Select lock-in periods for your assets
- Rewards calculator
- Pay-out type and reinvestment
- Assets protection
- Portfolio management
- Transactions history
- Cryptocurrency exchange wallet integrations
- Push notifications in the app
If you are interested in developing a DeFi staking platform, consider these features for your platform. While creating a DeFi staking platform, you need to make sure these steps are followed
Steps to develop your own DeFi staking platform
Developing a DeFi staking platform involves delving and it’s a crucial one while selecting a blockchain network, technical stack, etc.
- Selecting the right blockchain for platform development
- Choosing an apt technical stack
- Designing the Architecture
- Developing Smart Contracts
- Creating an intuitive User Interface
- Wallet Integration
- Ensuring security, testing, and deployment
These are the steps involved in the development process of the DeFi staking platform
Develop your own DeFi staking platform by followed by DeFi staking development company
While developing your platform, you need to do research and plan to execute it because the development involves blockchain technologies of various types. For example, there are Ethereum, Polkadot, Binance Smart Chain, Avalanche, Solana, and more; I have only mentioned the famous ones. You can choose as per your requirements. After that designing of the platform comes in that's where the whole framework meets. The designing parts involve back-end functionalities, UI/UX designs, smart contract structured logic and features of the platform by hiring skilled designers. Then engage with certified developers who have knowledge in programming languages like Rust, Solidity, or Vyper for smart contract development and for wallet integration offering you security, speed, and comprehensiveness. Next, make sure to test the platform after implementing the necessary components to identify the bugs or errors in the platform and fix them. The final process after testing deploys the platform. These are the processes that are followed by the DeFi staking development company.
Summing Up
I hope you understand the key factors to consider while developing a defi-staking platform for your defi-based business in the online trading cryptocurrency community. If you like to know more or want to launch your own DeFi staking platform keep in touch with a prominent DeFi staking development company to offer you a securely practised, proven strategy, and undergo effective endeavours for your business platform to maintain your business lucrative.
