Earnity’s Domenic Carosa and the Process of Developing a DeFi Product

April 8, 2022 , In: Finance , With: No Comments

If you’ve decided to develop a DeFi product and are looking for information to help you do so, you’ve come to the right place. Here are the main stages of DeFi development, Earnity co-founders Domenic Carosa and Dan Schatt wish for everyone to know the basis of crypto product:

  • The Process

DeFi product development differs slightly from normal software development. It all comes down to decentralization. To accomplish this, you must create smart contracts that contain all of the operational rules.

  • Analysis

Any software product’s development process begins with business analysis. This step is part of defining the project’s functionality and requirements, which will aid in selecting the best technology stack and creating the product architecture.

  • Design of UX/UI

UX/UI design is an essential component of any application. If you want to provide a one-of-a-kind user experience, you’ll need the help of talented designers. Whatever functional features you come up with, you must adequately incorporate them into the design.

  • Smart Contracts

The quality of smart contracts determines the correctness and security of your DeFi app. They are the foundation of any DeFi product because they contain all the system’s operation logic. Creating this element is not simple. They should include descriptions of all possible scenarios for user interaction with the platform. Everything must be transparent and secure.

  • Integrations with DeFi

One of the essential aspects of decentralized finance is integrating DeFi products. Therefore, you should link your product to other DeFi protocols in some way, which allows you to build a functional financial ecosystem with more options for users.

  • Front-end Programming

The development team is responsible for bringing the UX/UI design to life at this stage. Front-end developers create your product’s user interface with smooth navigation and fast-loading pages using the best front-end frameworks and libraries.

  • Testing

Once you’ve completed all the significant features, it’s time to put your DeFi product through its paces. Check to see if it is reliable and safe in all aspects before releasing it to the public. It is not enough to ensure that it works as intended; you must also test for vulnerabilities and loads. Earnity’s Dan Schatt and Domenic Carosa want anyone to start their Defi project. The most critical phase of the development process is that all potential bugs must be rooted out and corrected before the product is safe for the public.