DeFi Synthetic Assets Development – DX Business Group Software Solutions – Blog https://DX Business Group.io/blog Blockchain Business Tips and Ideas Wed, 27 Oct 2021 12:35:04 +0000 en-US hourly 1 https://wordpress.org/?v=5.5.7 https://DX Business Group.io/blog/wp-content/uploads/2020/12/cropped-android-chrome-512x512-1-32x32.png DeFi Synthetic Assets Development – DX Business Group Software Solutions – Blog https://DX Business Group.io/blog 32 32 Top Five DeFi Developments to must-watch in 2021 https://DX Business Group.io/blog/top-five-defi-developments-to-must-watch-in-2021/?utm_source=rss&utm_medium=rss&utm_campaign=top-five-defi-developments-to-must-watch-in-2021 https://DX Business Group.io/blog/top-five-defi-developments-to-must-watch-in-2021/#respond Thu, 08 Jul 2021 10:08:07 +0000 https://DX Business Group.io/blog/?p=610 This blog examined the top five emerging trends in the decentralized finance (DeFi) sector in June. DeFi was still in its infancy at the time. It was an exciting new movement that had just reached the $1 billion total value locked (TVL) milestone—the number of crypto funds deposited by users to decentralized applications (dApps).TVL would [...]

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This blog examined the top five emerging trends in the decentralized finance (DeFi) sector in June. DeFi was still in its infancy at the time. It was an exciting new movement that had just reached the $1 billion total value locked (TVL) milestone—the number of crypto funds deposited by users to decentralized applications (dApps).TVL would reach $2 billion by the end of the month and more than $15 billion by the end of 2020. 1 Today, as the movement shows no signs of slowing, several key trends have become established, while others are worth keeping an eye on as space develops throughout the year. Let’s look at what they are and why they are important.

DeFi Is Growing: Follow the Developments Shaping the Movement in 2021

1. Scaling Solutions Become Priorities

The popularity of DeFi dApps is putting a burden on the Ethereum network, resulting in higher transaction (or gas) fees. Simple token transfers can cost a few dollars as of this writing, whereas complicated smart contract transactions like launching a Vault can cost hundreds of dollars or more. Ethereum 2.0 will eventually address the network’s ongoing gas problem, as well as other concerns, allowing it to expand to the point where it can sustain general usage. However, the update will be implemented in stages (the first of which, Phase 0, will begin on December 1, 2020) and will take several years to complete.

Meanwhile, developers are working on interim and complementary solutions to facilitate the launch of large-scale dApps before Ethereum 2.0 is fully released.

Moving some coins and actions to child chains on the Ethereum network is one option. Matic Network2, which is now part of the Polygon suite of scaling solutions, is an example of this. Matic transactions are quick and affordable because they take place on sidechains.

Another technology allows developers to bundle transactions off-chain and submit them to the main blockchain in batches.3 Those bundles, called Rollups (also offered by Polygon), could enable Ethereum to support a 200-fold increase in transactions.  

2. Users Embrace AMM-based DEXes

Automated Market Makers (AMMs) offer an entirely new concept for decentralized exchanges (DEXes), replacing traditional order books with liquidity pools and pricing determined by an algorithm based on supply and demand. 4 Instead of trading directly with other users, users trade through a smart contract-based liquidity pool. It’s a simple and easy-to-use solution for trustless crypto trading that avoids the challenges and complications of migrating established exchange systems to the blockchain.

AMMs are a good example of how DeFi platform developers are adjusting to space’s specific demands and providing consumers with chances, unlike anything they’ve seen in the traditional banking sector. Along with Curve, Sushiswap, and Balancer, Uniswap, which popularised the AMM technique, is a popular DEX in the crypto industry. In reality, the total value of those four swaps is almost $13 billion TVL. 5 The most popular AMMs draw a fraction of the trade volume of the largest order book-based DEX.

AMMs like Uniswap are simple to use and allow for quick and secure crypto trading.

3. Stablecoins: DeFi’s Killer Assets?

Stablecoins, which Ethereum co-founder Vitalik Buterin describes as “at once the most valuable and the most boring thing to come out of DeFi, “6 provide users with a vital means of storing and transferring value on the blockchain without exposing them to the volatility for which crypto is known, without exposing them to the volatility for which crypto is notorious. Importantly, stablecoins are effective tools for allocating capital efficiently to DeFi yield farming prospects.

4. NFTs: A Most Exciting Crypto Trend 

NFTs (non-fungible tokens) are indivisible blockchain tokens that represent a single physical or digital item. They’re becoming increasingly popular as a way to confirm the authenticity and ownership of digital art, collectibles, in-game items, and even virtual property parcels. People can purchase and trade various kinds of collectibles using ETH and, increasingly, stablecoins on NFT platforms like SuperRare, Nifty Gateway, Rarible, and others. 

5. Cross-chain Collateral Gains Ground

As the need for collateral to use in DeFi dApps grows, new methods of bringing liquidity into the industry emerge. The growth of Bitcoin on Ethereum is a significant step in this field (via ERC20 tokens that are backed 1:1 by BTC). Wrapped Bitcoin (WBTC), which uses BTC held in custody by the token issuer (similar to USDC for Bitcoin), and Ren Protocol, which uses a trustless methodology for tokenizing Bitcoin and other cryptocurrencies for use on Ethereum, are two examples of this. Bitcoin, as the most valuable and largest cryptocurrency, represents a vast amount of potential liquidity for DeFi.

What Else is Unfolding in DeFi?

While the five developments listed above are the most closely followed, users are starting to pay attention to a few others, including:

CBDCs:

Central banks and governments have been investigating the possibilities of blockchain technology for the past five years, with the goal of launching their own Central Bank Digital Currencies. The first CBDC variants are now being tested, most notably in China. Several more nations are planning to follow suit.

Insurance:

Insurance apps that are decentralized have the ability to provide transparency and efficiency to a multibillion-dollar sector. A minor but rapidly-growing use case in the DeFi sector is protection against different dangers, such as smart contract exploits and exchange hacks.

The rise of true DAOs:

Implemented properly, decentralized finance protocols can be more secure, transparent, and efficient than traditional, centralized financial systems. As the DeFi space evolves and awareness of genuine decentralized operations increases, more projects are progressing toward becoming true DAOs (decentralized autonomous organizations). 

DeFi’s Time to Shine

DeFi’s rise in 2021 shows an interesting sector with a lot of potentials. DeFi is increasingly obvious that it has the potential to alter the future of finance. New trends supported by the strength of stablecoins, the increased acceptance of NFTs, and new scalability and liquidity alternatives are putting dApps on track to enjoy another amazing year.

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DeFi Staking

Staking providers have grown in popularity in recent years. Any person or company may become a trading specialist and make significant profits by using this service. You can take advantage of crypto-based lending and borrowing while you use this app. It is possible to have a large range of finance networks ready for this technology.

DeFi staking platform growth is becoming increasingly common as a result of both of these factors. It also assists the teams in establishing a proper network that allows them to expand their company.

When you begin to use this framework, you may become familiar with the most beneficial activities. It gives you the right idea and the tools to take your company to new heights. You open up more opportunities and set a better precedent when you let it happen this way.

As a leading DeFi Staking Development Company, we provide a DeFi staking platform for decentralized finance systems.

Stake token or coin is popular programs for just earning passive crypto coins or tokens. It’s just by staking crypto assets to the wallet, or an exchange that supports dapp staking. Crypto Staking is widely and wisely used to gain more traffic in duration and give enough return to users, and after the announcements of Ethereum 2.0, staking has been practically boosted everywhere and has been identified within the concept of Decentralized Finance (DeFi).

The DeFi Staking model operates at the point of sale (POS), giving investors, members, and validators the ability to build, propose, and vote on blockchain blocks depending on the properties they own and stake.

DeFi Staking is a term that refers to the act of carrying or stake a coin or token in a wallet in order to receive further prizes and awards in the form of a token or coin.

What Is DeFi Staking?

DeFi staking is the process of earning that requires little to no effort. Create your DeFi staking pool with a certain amount of crypto coins on a wallet/ exchange/ platform that supports crypto stakes, one can earn a specific interest rate on your coins. With the introduction of Ethereum 2.0, DeFi staking has reached new heights. It is available on every other exchange platform that is embedded with the concept of DeFi. It works on the Proof of Stake (PoS) mechanism, and the validators have the power to create and vote on the blockchain blocks based on the assets they stake. They will be rewarded with an interest rate paid regularly to their wallets.

What Is Cryptocurrency Staking Development?

Cryptocurrency Staking is a kind of consensus mechanism in which crypto transactions are verified and secured. It helps crypto users to protect the network with minimum energy consumption and set up.

What Is Staking On Ethereum?

Staking on Ethereum means staking a certain amount of Ether (ETH) to participate in the network and get a reward in return.

Crypto Ethereum Staking involves locking up an amount of cryptocurrency in a wallet to participate in the functions of a blockchain for specific rewards. Everyone has the liberty to participate in the staking process of a blockchain platform under proof-of-stake consensus. There are several variations in a proof-of-stake that allows people to participate in staking.

Suppose you are up with the idea to build Ethereum 2.0 and stake it. In that case, DX Business Group can extend its help to make you your cryptocurrency Ethereum Staking and open an earning avenue most securely and efficiently.

It’s nothing more than buying and selling cryptos through a decentralised finance structure. Aside from that, you’ll be able to secure some fantastic rewards for your company while still delivering significant results. Whether or not you get things done with DeFi, you make them more certain and open the door for several other ideas to join this approach. Through doing that, you’ll be able to build a system that will help you feel more confident about various issues.

When you combine your company with this process, you will completely rethink several aspects. In addition, having a flawless algorithm running on the backend improves the clarity of any operation. You have the product shipped to the consumer when working on this solution. Despite the fact that it seems to be complicated, this mechanism makes it very simple to do. You also get blockchain’s effectiveness to make it ubiquitous in the network.

In the DX Business Group, DeFi is the buzz. To construct their wealth, these days, millions of users are revolving to DeFi staking solutions. Members are able to yield on their staked assets or earn interest by lending and borrowing cryptocurrencies.

DeFi is a viable alternative to conventional banking and lending solutions. Smart contracts power DeFi staking software services, which exclude middlemen from transactions and grant individuals power in the process.

Reasonable And money-spinning services of DeFi Staking Development

The DX Business Group is transformed by Decentralized Finance. Below is the list of motive why you should begin your own solution:

  • On their collateralized assets, users can earn striking ROI.
  • For providing liquidity, Lenders and Borrowers gather governance tokens.
  • The undeveloped cryptocurrency assets can be staked and utilized by participants.
  • Users enjoy complete transparency and access to transactions as the platform is managed entirely by smart contracts.
  • In the platform, the absence of middlemen helps diminishing transaction costs and develops operations.
  • In order to take a first step towards earning profits, participants do not have to invest in costly mining equipment.
  • Highly economical and eco-friendly are DeFi solutions.

DeFi Staking Workflow

To administer and activate transactions on the platform Decentralized Finance leverages smart contracts. In a common pool Participants have to stake their cryptocurrency assets and offer liquidity to thousands of users. Stakeholders can earn striking interest rates by allowing the lending and borrowing of funds, and incentives in the form of governance tokens. In providing participants access to transparent platforms DeFi staking solutions are instrumental and are free of middlemen interference. Greater control is enjoyed by stakeholders this way over their assets and their earnings. In a secure staking pool by listing their assets, a creation of a sizable cryptocurrency fund is done, consequently benefiting participants and permitting them to produce bigger yields on their investments. To generate and begin an extremely profitable project today, make utilization of phenomenal DeFi staking development services!

Create Your DeFi Staking Platform With DX Business Group

To change at a rather quick pace the DeFi space is continuing. As a result, it is necessary to hire the services of a reputable DeFi staking platform development company. DX Business Group owns several years of experience in the cryptocurrency and blockchain domain. Our team has highly experienced developers, marketers, and business analysts, who offer unconditional support to your project, hence leading to success. Furthermore, all the services that we offer are customizable and Whitelabel gives you a competitive benefit. So get in touch with us and experience the most professional services.

DeFi Staking Platform Development seals the crypto assets in a crypto wallet based on the number of assets staked by the prospective stake. We offer top-notch services on DeFi Staking Platforms with high-level security. Start your own DeFi Staking Development to embrace our end-user service on crypto stakings on DeFi platforms.

Grow up your business with Decentralized finance (DeFi) development:

1.DeFi (Decentralized finance development) has financial services with blockchain technologies.
2.It shifts from traditional centralized with peer-to-peer finance enabled by decentralized technologies built on the blockchain.
3.DeFi serves millions of unbanked people, decentralized finance also known as open finance.
4.DeFi uses smart contracts for making the transaction automatic with transparency and highly secured.
5.We make a big difference to your business growth at an affordable price.
6.Third parties are eliminated here.
7.Multiple decentralized applications are easily connected with highly interoperable.

Components of DeFi:

1.Stable Coins
2.Staking
3.Market Prediction

Stable Coins:

Stable coins are a new class of cryptocurrencies that are backed by reserve assets. It is easy to send and receive the account.
Stable coins are trying to tie up with the valuable cryptocurrencies by using them in the form of day-to-day life, such as dollars and euros.

Staking:

Staking is like a cryptocurrency wallet to hold our funds and we use it as a locker, in that wallet by using staking we know how many coins are inside in the wallet.

Market Prediction:

Market prediction is to determine the stock value of financial exchange to make a beneficial trade and also away from unwanted transactions.

Ethereum in DeFi development:

1.Ethereum is not just like a platform, it is open-source with smart contract functionality.
2.It helps developers to build their distributed applications.
3.Ethereum is a Turing complete programming language in blockchain, everyone can send their cryptocurrency with a small fee

Decentralized finance development (DeFi) solutions:

1.DeFi Token Development
2.DeFi Wallet Development
3.DeFi Dapp Development
4.DeFi Exchange Development

DeFi Token Development:

DeFi token leads the assets in the real world with the development of security, payment, and equity tokens, it has high quality at an affordable cost.

DeFi Wallet Development:

This is a device or an app to store your keys which are public or private by using the encryption method.
The app allows the users to store or retrieve their digital assets, to make transactions using bitcoins where the coins are placed in your crypto wallet.

DeFi dApp Development:

dApp is a decentralized application that is implemented on the decentralized blockchain. This application runs on a distributed computer system and prevents internet censor chips. These dApps are directly connected with users and developers without the need for third parties. This is a new wave application, so developers are attracted all over the world.

DeFi Exchange Development:

1.A decentralized exchange development (Dex) is just similar to a centralized one.
2.Here We don’t have a third party on which you can rely.
3.In dex peer-to-peer (P2P) allows trading for which it uses assets and tokens.

Through the DeFi Staking process, embrace the DeFi service that allows you to earn passive income by holding crypto coins. Also, you earn extra rewards (in the form of additional tokens), and you earn extra revenue while the value of crypto coins is increasing.

Business Benefits Of DeFi Stakings

DeFi has revolutionized the financial world and has made a distinctive mark in the global financial market. It was successful in doing so because of its features like transparency, secured assets, and more. DeFi platforms offer a wide variety of offers as compared to the traditional banking system. DeFi offers its grace of a digitalized and secured network to the finance world, which helps financial institutions to grow and flourish. Create your DeFi Staking development platform to make a mark in the business world.

Reasons To Choose DX Business Group For DeFi Staking Development

DX Business Group is a leading DeFi Staking development company. We have in-depth knowledge and expertise of years to prove efficiency in DeFi staking platform development services. We offer the best DeFi Staking development services and understand the needs of your business requirements. 

DX Business Group is a leading company that offers blockchain and cryptocurrency solutions. In building scalable and successful products that help support well with your business goals our extremely skilled and knowledgeable team of developers help. Including , DeFi DEX exchange development, DeFi token development, DeFi smart contract development and auditing, DeFi lending and borrowing development, DeFi blockchain architecture development, DeFi staking pool development, and much more, we offer a variety of services. Our fully Whitelabel and tailored services offer you whole ownership of the product and assist you develop your business at a faster pace.

DX Business Group is a leading DeFi development company with a rich experience in blockchain technology that facilitates DeFi staking platform development services. We have a team of professionals that has substantial technical expertise in DeFi development of all crypto businesses like dApp development, smart contract development, token development, lending and borrowing development. We can enhance your productivity with our solutions. Start Your Own DeFi Staking Development Today!

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An Essential Guide To DApp Development to level-up your business growth https://DX Business Group.io/blog/decentralized-application-dapp-development-company-DX Business Group-software-solutions/?utm_source=rss&utm_medium=rss&utm_campaign=decentralized-application-dapp-development-company-DX Business Group-software-solutions https://DX Business Group.io/blog/decentralized-application-dapp-development-company-DX Business Group-software-solutions/#respond Mon, 22 Mar 2021 11:26:26 +0000 https://DX Business Group.io/blog/?p=250 Decentralized Application (dApp) Development Our passion and penchant for emerging technology have allowed us to stay at the forefront in the Decentralised Application (DAPP) Development. We provide full-cycle dApp Services and use an agile methodology that has helped us deliver dApp solutions at reasonable rates and within estimated time frames. dApp Services For Business DX Business Group [...]

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Decentralized Application (dApp) Development

Our passion and penchant for emerging technology have allowed us to stay at the forefront in the Decentralised Application (DAPP) Development.

We provide full-cycle dApp Services and use an agile methodology that has helped us deliver dApp solutions at reasonable rates and within estimated time frames.

dApp Services For Business

DX Business Group is recognized as one of the top dApp development companies that brings decentralization to the core of your business. We create applications that are specifically crafted to serve the purpose of your enterprise. With this particular product, you can harness the power of the entire blockchain mechanism to the fullest.

We make Ethereum dApp Development so productive that you can integrate it into any segment of the operations. Our services are overarching and they give solutions to every problem that you might come across. You can make things anonymous, synchronized, and robust by making the most of this technology.

Benefits of Decentralized Finance (DeFi) Development

Automation

The whole platform is automation-based and does not require manual interception. The facilitation of smart contracts accomplishes this.

Smart Contracts

Smart Contracts, the non-editable collective agreements, run the DeFi system’s dynamic structure without disputes since they are automated.

Security

The peer-to-peer blockchain-based network ensures that several core-operational nodes are present, thereby preventing abrupt shutdown and data breach.

Transparent Protocols

The lack of an insecure central authority who has control over the data of your users makes the system extremely open and trustworthy.

Decentralized Finance (DeFi) Development Services

MVP Consulting

Our experts in dApp development keep updated with the latest trends in the dApp industry and can help you evaluate whether or not your idea can succeed. As per the requirements of the customer, we classify the possible stakeholders, describe technical components, and recommend the right blockchain platform.

User Interface

Right from ideation, wireframe designs, low fidelity and high fidelity design to excellent prototypes, we follow the most organized user interface modeling methods. We have an established track record of producing user-friendly applications for our clients.

Decentralized Exchange Development

As per the requirements of the client, we can create a highly scalable and customizable exchange platform. Via distributed shared order books and APIs, the exchange platform can connect external exchanges.

Cloud Services

We enable our clients to support dApps as API-externalized microservices. Our microservices will let you focus on a single organization’s strength. We will provide the data store for the cloud for each microservice.

Smart Contracts

Our smart contract service includes contracts on various platforms such as Ethereum, Neo, and others to write, test and deploy. We help our customers choose the best platform to meet their business needs.

Decentralized Storage

Several cloud storage systems are decentralized, enabling peer-to-peer transactions and offering the most stable, private, and successful cloud storage. We define and pick the correct project platform.

dApp Porting

In dApp Porting, we provide comprehensive support for a reusable codebase on any operating system. We can migrate the current application to any blockchain platform that meets the requirements of the organization.

dApp Upgrade Services

To run business operations smoothly, the application should be updated on time. Whenever needed, we provide customers with full migration and upgrade services. Our team can build new smart contracts and update the dApps’ microservices.

Why is DX Business Group the right choice for your Decentralized Finance (DeFi) Development?

Quality performance

Rigorous testing cycles and quality controls are carried out before the completed platform meets the specifications of our client and the performance expectations of the industry.

Client Collaboration

Opportunity to work exclusively with our technical team and direct us step-by-step in the process of optimally perfecting your dream DeFi business.

Innovation

It distinguishes itself with its ability to integrate additional visionary features and applications into a conventional paradigm from its contemporary peers.

Prompt Delivery

Prioritizing the needs and urgency of consumers, tasks are planned to be completed on time, followed by instant standard checks to facilitate timely delivery.

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The Best DeFi Smart Contract Platform Development Services https://DX Business Group.io/blog/defi-smart-contract-development-services-DX Business Group-software-solutions/?utm_source=rss&utm_medium=rss&utm_campaign=defi-smart-contract-development-services-DX Business Group-software-solutions https://DX Business Group.io/blog/defi-smart-contract-development-services-DX Business Group-software-solutions/#respond Thu, 18 Mar 2021 10:53:11 +0000 https://DX Business Group.io/blog/?p=242 DEFI SMART CONTRACT DEVELOPMENT COMPANY Penetrate the automated world of decentralized finance with our DeFi smart contract. We are a DeFi Smart Contract development company that delivers superior financial services. Get in touch with us today and discover different lucrative avenues to level up your business. DeFi Smart Contract Development Decentralized Finance (DeFi) Smart Contract [...]

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DEFI SMART CONTRACT DEVELOPMENT COMPANY

Penetrate the automated world of decentralized finance with our DeFi smart contract. We are a DeFi Smart Contract development company that delivers superior financial services. Get in touch with us today and discover different lucrative avenues to level up your business.

DeFi Smart Contract Development

Decentralized Finance (DeFi) Smart Contract Development is the fuel behind the decentralized finance ecosystem. It is an activity that includes development, auditing, and deploying smart contracts on decentralized finance without the involvement of an intermediary. DeFi solutions have witnessed revolutionary growth due to the deployment of smart contracts. Smart contracts are beneficial for entrepreneurs as well as consumers. Therefore, people are adopting it wholeheartedly.

Smart contracts are a set of automated lines of codes that have been generated with the mutual understanding of the seller and the buyer upon the trading activity. If both the parties agree on the present conditions, then the smart contract executes its function. With the help of smart contract activities like lending, borrowing, insurance, banking, and much more can be completed at a more incredible speed consuming less time.

We, at DX Business Group, have Experts in DeFi smart contract development, especially for running DeFi DApps without any vulnerabilities. We provide smart contract development on various blockchain platforms like TRON, Ethereum, EOS, etc.

What Is A Smart Contract?

A smart contract is virtual and can technically be defined as a transaction protocol. It can be said that it has a structure of a typical deal. There will be a set of predefined rules, and all of them have to be met for the successful initiation of the contract. If there is any hassle in fulfilling the regulations, the contract will automatically nullify itself.

The most attractive part of the contract is “Automatic Execution.” This means that once the code of the smart contract is set, automated execution will initiate. It is immutable. The smart contract is widely built on Ethereum. After Ethereum, various other cryptocurrencies are supporting smart contracts on its platform. For example, TRON smart contract.

What Is A DeFi Smart Contract?

DeFi protocols have been successfully ruling the market because of the deployment of smart contracts in them. Due to smart contracts, DeFi has witnessed revolutionary growth in the market. Due to the integration of smart contracts on DeFi protocols, trading has been performed more securely and reliably. It has contributed towards the upliftment of the DeFi protocol in the sector.

Roles And Benefits Of Smart Contract-Based DeFi Protocol

DIGITALIZATION

Smart contracts are the set of predefined codes, which has facilitated the DeFi platform to go online and saves the cost of owners and consumers

SECURITY

Smart contracts are immutable and can not be altered once set

EXTERNAL FACTORS

No external factors can interfere and disturb the working of smart contrast

FEES

Due to the elimination of the third party, the cost is reduced

ACCURACY

Due to the absence of human touch, it can achieve the utmost accuracy

SPEED

As it is an automated process, it performs at a higher speed

Smart Contracts Are The Backbone Of DeFi Protocol

The smooth functioning of the DeFi protocol is possible due to the existence of smart contracts. These smart contracts are automated source codes that eliminate the necessity of a third party on the platform. Due to this, the DeFi protocol platforms are safe, reliable, and secure to trade. It becomes cost-effective for both owners as well as buyers.

DeFi protocol’s necessity is a smart contract. It is immutable. Therefore, every smart contract needs predefined and audited to perform in the best possible way.

Major Use Cases Of DeFi Smart Contracts

DeFi Smart Contracts has applications in multiple industries including:

Cryptocurrency Exchanges
  • Cryptocurrency exchanges have skyrocketed to the next level due to the integration of smart contracts.
Lending and Borrowing
  • DeFi lending and borrowing allows for better security, accountability, and transparency in the financial system
Stablecoins
  • Stablecoins are blockchain-issued tokens designed to hold on to a specific amount.
Market Predictions
  • Market predictions about the ups and downs of cryptocurrencies can be made with DeFi smart contract
Asset Management
  • Asset management can be done with the wallet integration on the DeFi platform

Various Existing Projects Of DeFi That Utilizes Smart Contract

Synthetic

Swapping securities and assets are quickly done with the help of smart contracts

Maker

With the help of smart contracts on Maker, users can borrow DAI (which is pegged to USD) by depositing the ETH as collateral.

Credit & Lending

The credit and Lending service in a decentralized finance platform generates an avenue for traditional financial services, due to which there is an intermediary, and thus, the cost increases.

Compound

The compound is an automated protocol based on Ethereum, which upholds various tokens like BAT, DAI, ETH, USDC, REP, ZRX. The interest rate varies as per the demand of the borrowers (increases) and the lenders (decreases).

UniSwap and FalconSwap

Both of these projects are flourishing in the DeFi platform. These projects embrace smart contracts in their FWT token in the transaction and for other activities.

Advantages Of Smart Contracts In DeFi Space

High-Quality Security

Any transaction that undergoes on a blockchain network is powered by a smart contract, which is developed and audited suitably. Thus, it offers high-end security.

A Complete Digital Solution

Smart contracts are digital ledger, which digitally stores every transaction.

Precision

The working of smart contracts is entirely automatic and does not require any human effort, due to which there is the utmost level of accuracy on the platform

Speed

All the financial functionalities are executed automatically with a more incredible speed

Decentralization

All the functions are performed under smart contracts that are entirely decentralized

Immutable

Once the smart contracts are integrated into the platform, they can not be changed.

Low Transaction Fees

As there is no involvement of any third party in the transaction process, users have to pay minimum transaction fees

Authority

Integration of smart contracts on wallets gives control to the users over their assets.

How To Build Your Own DeFi Smart Contract

Simple steps to build smart contracts using DeFi on Ethereum

  • Set up the development environment
  • Set up the project
  • Open the project in Visual Studio Code
  • Create an account on Ethereum
  • Take care of gas and mining
  • Obtain testnet ETH

Where To Get The Best DeFi Smart Contract Development Services?

If you have specific requirements for your DeFi platform or DApp, then you need to integrate it in a smart contract for smooth functioning. If you have complete technical knowledge about it, then you can code the smart contract for your DeFi solution and integrate it on the platform or the protocol.

Whereas, if you are completely blind about it, then you can get in touch with any DeFi development company which provides DeFi smart contract development solutions. DX Business Group is the best blockchain development company that offers various perfect smart contract development solutions like DeFi, MLM, cryptocurrency exchange, etc.

Our DeFi Smart Contract Development Solutions

DeFi Smart Contract Re-Auditing
We have the practice of reauditing the smart contract code to avoid any vulnerability.

DeFi Smart Contract Auditing
To tackle the vulnerabilities, auditing is a must process before deployment. We offer a keen auditing service for the smart contract.

Smart Contract For DEX
Our Smart Contract for DEX helps in the easy exchange of the assets for the users. It takes care of different aspects such as maintenance of the off-chain order books, ensuring accurate on-chain order matching, and facilitating prompt on-chain settlement of the trade requests.

DeFi Smart Contract Development
We have a team of skilled developers that are capable of developing immutable smart contracts for your DeFi solutions.

Integration/Deployment Of DeFi Dapp
After the development, deployment, auditing, and reauditing of the smart contracts, they are integrated with the DeFi Dapps or DeFi protocol.

DeFi Smart Contract Optimization
We offer a service for optimization of the codes on your DeFi smart contracts. Due to this, the transaction proceeds speedily. It leads to greater efficiency and boosts the performance of DeFi DApps.

Why Choose DX Business Group?

DX Business Group is a leading, DeFi smart contract development company. We build bug-free and unique smart contacts for every DeFi contract platform. We have a team that holds years of experience in developing smart contracts on DeFi platforms. Here is the list of reasons that will help you to choose DX Business Group as your smart contract developer company

  1. Customized exchange
  2. 24*7 technical support
  3. Pocket-friendly prices
  4. Advanced blockchain technology
  5. Multiple-payment method
  6. Re-auditing tools
  7. Error-free coding of smart contract

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DeFi yield farming and its remunerative benefits to Liquidity Providers https://DX Business Group.io/blog/defi-yield-farming-development-DX Business Group-software-solutions/?utm_source=rss&utm_medium=rss&utm_campaign=defi-yield-farming-development-DX Business Group-software-solutions https://DX Business Group.io/blog/defi-yield-farming-development-DX Business Group-software-solutions/#respond Tue, 16 Mar 2021 12:36:29 +0000 https://DX Business Group.io/blog/?p=238 DeFi Yield Farming Development Services DeFi Yield Farming is sparkling as a light in every headline of recent crypto news. What is Yield Farming? Decentralized Finance, shortly termed as DeFi is an open-source protocol that provides permissionless and fast financial services. The process by which users provide liquidity to DeFi open-source protocols and get rewards [...]

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DeFi Yield Farming Development Services

DeFi Yield Farming is sparkling as a light in every headline of recent crypto news.

What is Yield Farming?

Decentralized Finance, shortly termed as DeFi is an open-source protocol that provides permissionless and fast financial services. The process by which users provide liquidity to DeFi open-source protocols and get rewards is termed as DeFi Yield Farming.

In simple terms, the process of yield farming carried out on platforms that are built using DeFi protocols offers native DeFi tokens of that particular platform and this process is known as DeFi Yield Farming.

Yield farming protocols, in short, encourage liquidity providers (LPs) to lock up their crypto assets in a smart contract solution-based liquidity pool. A proportion of transaction costs, interest from lenders, or a governance token may all be obtained as rewards. These returns are calculated as a percentage yield on an annual basis (APY). The value of the released returns dips as more investors allocate funds to the associated liquidity pool.

The most common DeFi protocols run on the Ethereum network and offer governance tokens for liquidity mining. After offering liquidity to decentralized exchanges, tokens can be farmed in liquidity pools.

Also, Read | How to Create Decentralized Finance (DeFi) Protocol like yearn. Finance

Important terminology in Yield Farming:

What is Liquidity?

Liquidity refers to the ability of the asset to be converted to cash. In the crypto globe, the market becomes competitive when an asset gets bought or sold more.

What are DEFI Liquidity Pools?

Liquidity Pools are smart contracts that lock up tokens or assets to facilitate trading by providing high liquidity. Liquidity Pools offer users better returns than money markets but involve certain risks.

Uniswap and Balancer are the most popular DeFi platform termed as the largest liquidity pools.

Who are DeFi Liquidity Providers?

The users who stake their assets in the liquidity pools are known as liquidity providers. Liquidity providers are also termed as market makers, as they supply what buyers and sellers want to trade.

How Does DeFi Yield Farming Works?

Yield farming is referred to as Automated Market Maker.

First, the liquidity providers deposit their assets or funds to the liquidity pool. This liquidity pool provides a marketplace where users or LPs can lend, borrow or exchange their tokens or assets. These platforms collect fees which are then paid back to the liquidity providers based on their share of the liquidity pool.

However, processes can vary with different technologies and approaches. The funds deposited are mostly stable coins pegged to USD. DAI, USDT, BUSD are the most commonly used stablecoins in DeFi yield farming.

How Are Returns Calculated in DeFi Yield Farming?

The Estimated returns in Yield farming are calculated on an annual basis. The most important metrics in the calculation of returns in yield farming are the Annual Percentage Rate (APR) and Annual Percentage Yield (APY).

Annual Percentage Yield (APY):

The annual rate of return is charged on borrowers and paid to providers. It accounts for compounding which refers to reinvestment of profits to generate more returns.

Annual Percentage Rate (APR):

The annual rate of return imposed on borrowers and paid to the investors is termed the Annual Percentage Rate. 

DeFi should find its own metrics for the calculation of returns in yield farming.

Risks in DeFi Yield Farming:

In Defi,  farming involves depositing funds to a smart contract with no central authority. And if the smart contract codes are lost and found to be an error, the entire financial transaction will also be lost. This implies that the funds transferred will be lost. This makes yield farmers lose all their assets if the system is blocked.

When the DeFi smart contracts are free from vulnerabilities, the risks involved in DeFi yield farming can be reduced.

What Sparked the Rise of High-Yield Farming?

The introduction of the COMP token – the Compound Finance ecosystem’s governance token – has sparked a surge of interest in yield farming. Token holders get privileges for governance tokens. 

Distributing these governance tokens algorithmically with liquidity bonuses is a common way to kickstart a decentralized blockchain. Liquidity providers are enticed to “farm” the new token by providing liquidity to the protocol.

COMP raised the popularity of this form of token distribution model. Other DeFi ventures have also devised creative ways to draw liquidity to their ecosystems.

What are the Advantages and Disadvantages of Yield Farming?

  • Profit is the main advantage of yield farming.  Yield farmers who implement a new project are rewarded with tokens and huge gains can be made if yield farmers sell certain tokens at the right time. Those profits can be re-invested in other DeFi projects to increase yield even more.
  • Yield farmers must typically invest a substantial amount of money upfront to make any significant profits. Yield farmers face a major liquidation risk if the price drops unexpectedly, as it did with HotdogSwap, due to the highly volatile nature of cryptocurrencies, particularly DeFi tokens.
  • Yield farming techniques are complicated and those who don’t completely comprehend all of the underlying protocols are at greater risk.
  • Yield farmers have put their money on the project teams and the smart contract code that underpins them. Many developers and entrepreneurs start projects from the ground up or even copy the code of their predecessors. Even if the project team is trustworthy, the code is often untested and prone to bugs, making it vulnerable to attackers.

Key Challenges and Opportunities with Yield Farming:

The Ethereum blockchain is used for the majority of DeFi applications, posing some significant challenges for yield farmers. The Ethereum network is experiencing scalability issues ahead of the 2.0 update. As yield farming becomes more common, the Ethereum network becomes clogged, resulting in long confirmation times and rising transaction fees.

As a result of this scenario, some have speculated that DeFi could end up self-cannibalizing. Ethereum’s problems, on the other hand, seem to be more likely to support other networks in the long run. The Binance Smart Chain, for example, has emerged as a viable alternative for yield farmers who flocked to the network to take advantage of new DeFi DApps like BurgerSwap.

Additionally, Ethereum’s existing DeFi operators are attempting to solve the problem with their second-layer solutions for the network. As a result, assuming that Ethereum’s issues do not prove fatal to DeFi, yield farming will continue to exist.

The Future of DeFi Yield Farming:

DeFi Yield farming provides attractive returns to users at least a hundred times higher than a traditional bank on their staked crypto assets and driving the DeFi space to the next level in the crypto market.

In the future, there may be more and more DeFi based platforms inherited with automated yield farming that will tend to rock the crypto globe. This yield farming has inspired many individuals and yet to attract many in the nearer future.

DX Business Group’s expertise in the development of yield farming platforms:

DX Business Group always keeps abreast of the latest developments and trends in the DeFi and cryptocurrency space. Once you decide to get started with yield farming, reach out to our team of top specialists first.

  • Our team consists of elite developers, business analysts, and marketers who offer unconditional support to your project, thereby guaranteeing its success. 
  • DX Business Group developed a reputation for its DeFi Development solutions and Services and all our services are customizable.
  • We started to support DeFi based projects mostly for the aggressive growth in yield farming.

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Launch and utilize the attractive benefits of your own DeFi synthetic assets https://DX Business Group.io/blog/defi-synthetic-assets-development-service-DX Business Group-software-solutions/?utm_source=rss&utm_medium=rss&utm_campaign=defi-synthetic-assets-development-service-DX Business Group-software-solutions https://DX Business Group.io/blog/defi-synthetic-assets-development-service-DX Business Group-software-solutions/#respond Sat, 13 Mar 2021 08:08:57 +0000 https://DX Business Group.io/blog/?p=235 Decentralized Finance is a permissionless alternative to all our traditional finance services. Here, the whole financial system is decentralized without any intermediary or middleman. With the popularity of DeFi, new forms of assets are rising, for example, synthetic assets which serve the needs of a wider range of users. What is a Synthetic asset? “Synthetic [...]

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Decentralized Finance is a permissionless alternative to all our traditional finance services. Here, the whole financial system is decentralized without any intermediary or middleman. With the popularity of DeFi, new forms of assets are rising, for example, synthetic assets which serve the needs of a wider range of users.

What is a Synthetic asset?

“Synthetic asset” refers to a combination of crypto and traditional derivative assets that are tokenized derivatives. Stocks or bonds that a trader does not own but wants to buy or sell are called derivatives.

For instance, rather than buying a stock, an investment company may buy a call option and sell a put option on the same stock. The use of synthetic assets here permits a certain company to develop the use of multiple financial models rather than a single investment crypto asset.

Synthetic assets create a cryptocurrency token for a derivative by adding a record of it on the blockchain thus creating a relationship between the underlying asset and the purchaser. Investors can bank on the variation of tokens without having to own them in their wallets. This feature of derivatives is the key reason for its increasing popularity in the crypto world. In this same way, synthetic assets also gain popularity among DeFi enthusiasts because they provide all necessary tools to traditional traders in the crypto world.

Using these assets, a trader can tokenize and trade anything. They can trade anything on the blockchain after adding a derivative to the existing asset and tokenizing it.

Increased security and traceability are the main reasons for choosing synthetic assets as a preferred method of investing. All trade takes place on blockchain and all transactions are recorded on the distributed ledger thus providing anonymity and security to traders.

New synthetic asset-based exchanges are rising on various blockchains that allow users to trade with maximum flexibility and lower gas fees. The biggest and most famous synthetic asset exchange is Synthetix. It is created specifically for trading tokenized derivatives and Synthetix is a leader of the niche market. Cream Finance and MakerDAO are two popular derivative protocols like Synthetix.

What is Synthetix?

Synthetic is the pillar for derivative trading in DeFi that allows users to get on-chain exposure to a wide range of assets.

Synthetix – A synthetic asset platform that provides on-chain exposure to real-world currencies, stocks, and commodities. They are backed by Synthetix Network Tokens (SNX), locked into a smart contract as collateral.

Synths monitor the prices of different assets to allow crypto-native users to trade P2C on Synthetix Exchange without liquidity limitations. This project was launched as a decentralized stablecoin protocol -Havven (HAV).

SNX token and its functions:

SNX is required to create synthetic assets, synths. Users can purchase these tokens from crypto exchanges and place them in a suitable wallet. New synths are minted, once these tokens are staked.

Synth tokens:

Synth tokens are the assets that replicate the prices of real assets. Stakers create a debt when new synths are minted and they should pay the same amount to synths before withdrawing their locked SNX tokens. These tokens do not exactly match the represented assets.

Synths value is volatile and changes in investments like stocks where the price changes constantly. Users have to pay different synths amount to get their masked SNX tokens compared to the initially received amount.

One big advantage of the synth is that users can trade different synth types as long as they have the same market value.  A bitcoin synth can be exchanged for a Tesla share synth if they have the same value.

Mintr:

Mintr is the primary dApp within the Synthetix Network providing a UI for minting Synths and participating in the ecosystem at large. The users can connect to Mintr via web3 wallets like MetaMask, Ledger, Trezor, and Coinbase Wallet. Once connected, users can carry out any of the aforementioned actions if they have a sufficient amount of SNX in their wallets.

Collateral:

To protect the platform from extreme market price fluctuations, a higher collateralization rate is charged. The rate of collateralization is about 750% in synthetic systems.

How does  SNX stacking work?

  • First, a user needs to buy SNX on any exchange and connect to a Web3-Wallet (e.g., MetaMask).
  • Go to Mintr, Synthetix’s proprietary portal interface to raise and manage synths.
  • Connect your wallet to Mintr.
  • Click on ‘Mint’ and select the desired type of Synth to mint.
  • Remember the 750% collateralization rate.
  • Enter the number of synths you would like to mint.
  • Click on ‘mint now.’
  • Confirm the transaction in the Web3 wallet.
  • After this process, the SNX tokens will be clocked automatically.
  • Users can now enjoy rewards obtained from trading fees. Users can also participate in the inflationary behavior of the SNX tokens.

Why synthetics and DeFi?

There are a few reasons why synthetics are useful to multiple participants in the decentralized finance (eDeFi) ecosystem.

  • Synthetics provide a mechanism for real-world assets to be traded on a blockchain with trust.
  • One of the main issues is a lack of liquidity in the current Defi.  Synthetics could help the markets scale their operations by hedging positions and protecting profits.
  • Another issue is the smart contract platforms with technical limitations. With synthetic exchange, the traders don’t need direct ownership of an asset.
  • DEXes like  Synthetix avoid the need for withdrawal fees (but gas fees will be charged) because trading is done directly from wallet to wallet.

Why DX Business Group For Crypto Synthetic Assets Development?

DX Business Group offers world-class DeFi development services for global countries and focuses on offering high-performing DeFi solutions primarily on synthetic assets development.

  • DX Business Group, a leading Decentralized Finance (DeFi) Development Company, has 6+ years of experience in Cryptocurrency & blockchain technology. 
  • DX Business Group delivered high-performing synthetic assets development solutions to clients across the globe.
  • We offer the following Decentralized Finance (DeFi) cryptocurrency services to enterprises & start-ups globally.

DeFi Yield Farming Development,

DeFi Liquidity Mining,

DeFi Lending/ Borrowing Platform Development,

DeFi dApp Development,

DeFi Wallet Development,

DeFi Token Development,

DeFi Smart Contract Development,

Decentralized Exchange Development,

DeFi Crypto Payment Gateway Development,

DeFi Exchange Development,

DeFi Lottery System Development,

DeFi Synthetic Assets Development,

DeFi Insurance Platform Development

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Benefit your users by launching a DeFi lending and borrowing platform https://DX Business Group.io/blog/defi-lending-and-borrowing-platform-development-DX Business Group-software-solutions-2/?utm_source=rss&utm_medium=rss&utm_campaign=defi-lending-and-borrowing-platform-development-DX Business Group-software-solutions-2 https://DX Business Group.io/blog/defi-lending-and-borrowing-platform-development-DX Business Group-software-solutions-2/#respond Wed, 10 Mar 2021 12:40:49 +0000 https://DX Business Group.io/blog/?p=230 Every DeFi lending and borrowing platform operates without the intervention of third parties. In these platforms, smart contacts enable the investors to lend or save their funds and allow borrowers to receive funds from lenders for suitable interest rates. What is a DeFi Lending And Borrowing Platform? A decentralized Finance (DeFi) lending and borrowing platform [...]

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Every DeFi lending and borrowing platform operates without the intervention of third parties.

In these platforms, smart contacts enable the investors to lend or save their funds and allow borrowers to receive funds from lenders for suitable interest rates.

What is a DeFi Lending And Borrowing Platform?

A decentralized Finance (DeFi) lending and borrowing platform remove all the hurdles faced by traditional banking for smooth and effective operations.

It allows investors to deposit their currency or lend loans to another user in return for an equivalent amount of interest in a very decentralized application. These platforms are integrated with all the DeFi protocols like DApps and smart contracts.

Special features Of A DeFi lending And Borrowing Platform With Protocols:

Transparency and quicker operations:

Blockchain records every transaction and can be verified by users on the network. This transparency level facilities data analysis and enables verified access to all users on the network. Smart contracts make operations faster by preventing the need for intermediates.

Flash Loans:

Flash Loans are uncollateralized loan feature in DeFi which allows users to borrow instantly and seamlessly without collateral given that the liquidity is returned to the pool within a single transaction block.

Rate switch:

It is a distinguishing feature that allows users to switch between two interest rates such as stable and variable in order to receive the best interest rate for the given amount because of market fluctuations.

Permissionless:

DeFi lending and borrowing protocols allow anyone with a crypto wallet to access Defi applications built on Blockchain, irrespective of their location and without any minimum amount of funds.

Crypto billfold:

A crypto billfold is integrated into the platform which allows users to hold and access their personal crypto keys.

Unique Collaterals:

DeFi lending and borrowing platforms support a wide range of collateral types such as DAI, ETH, BAT, LINK, MANA, MKR, SNX, USDT, USDC, TUSD, USDT, USD, BUSD, etc.

Investment Rewards:

DeFi platforms enable lenders to earn some extra rewards in addition to receiving interest for the disbursed amount.

Programmability and borrowing Interoperability:

Smart contracts automatically govern the operations and lead to the creation of new digital assets while interconnected software stack makes sure that Defi protocols and applications integrate and adaptable with one another.

Recapitalization:

DeFi disposal and borrowing platform development enables its users to create a balance between equity and debt.

Workflow Of A DeFi disposal and borrowing Platform:

Defi lending and borrowing platforms allow users to lend their crypto/assets to others and earn interest for the disbursed amount without any intervention from third parties.

In DeFi, anyone can be a lender. The process is carried out through lending pools. As DeFi depends on the blockchain, the lenders earn high returns because of its transparent nature wherever risks are often assessed clearly.

By using smart contracts, lenders can pool their assets and distribute them to borrowers. It is recommended that lenders should identify the best interest type and the same goes for borrowers, as each pool have their own approach on how to borrow.

In DeFi, Collateral functions in the same way as it does for banks but the difference is that the system doesn’t involve any physical property used as collateral. A borrower should offer something more valuable than the borrowing amount to get the loan. Any crypto token can be used to exchange borrowed cryptocurrency. A borrower needs to deposit the price of one bitcoin in DAI, to borrow a bitcoin.

Because of fluctuations of crypto assets, a case may arise when the cost of collateral drops below the loan amount. To deal with this, Platforms like MakerDAO requires users to collateralize their loans at a minimum of 150% of the loan amount.

Why Choose DX Business Group for developing your DeFi lending and borrowing platform?

DX Business Group, a leading DeFi Development Company, has 10+ years of expertise in blockchain technology.

Our pool of blockchain architects and DeFi developers is certain to deliver quality DeFi development services to launch your DeFi lending and borrowing platform development.

DX Business Group tens to integrate your DeFi platform with all the vital functions and features like charge loan origination fees, late fees, bounced payment fees, top-performing rate of returns, and many lending.

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A comprehensive guide for exploring the world of Non-Fungible Tokens https://DX Business Group.io/blog/what-are-non-fungible-tokens-erc-721-tokens-gaming-development/?utm_source=rss&utm_medium=rss&utm_campaign=what-are-non-fungible-tokens-erc-721-tokens-gaming-development Wed, 10 Mar 2021 11:25:23 +0000 https://DX Business Group.io/blog/?p=215 NFTs (non-fungible tokens) became flash news recently when a digital image collage was sold for $69 million by an artist known as Beeple. People might find People’s artwork compelling or disgusting according to their taste in art. You can “acquire ” a duplicate of top-notch artworks while violating copyright laws. NFTs are unique items that [...]

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NFTs (non-fungible tokens) became flash news recently when a digital image collage was sold for $69 million by an artist known as Beeple. People might find People’s artwork compelling or disgusting according to their taste in art. You can “acquire ” a duplicate of top-notch artworks while violating copyright laws.

NFTs are unique items that can solve copyright issues.

Almost everyone is aware of why the famous “The Mona Lisa” is worth about a billion dollars because it’s unique and a scarce item. An exact digital copy of the art is cheaper than bronze.

The Mona Lisa is priceless because it’s both unique and a scarce resource. Pebbles are unique too but high-quality artworks are able to attract a large group of audiences across the world thus sky-rocketing their prices.

On the other hand, digital arts can be reproduced as much as they could be. It is not possible to identify the original art from its copies. This reproducible ability of digital arts is a hindrance to -artists, musicians, and other creatives to showcase their skills and their works, collectors to acquire the original artwork, and investors to create a reliable digital market marketplace.

NFTs can be used to associate high-quality artworks by making them unique and economically valuable. It allows artists to sell the ownership of art that can be easily duplicated. NFTs paved the way for the digitalization of high-quality artworks like the Mona Lisa while protecting copyright claims.

What Does a Fungible and Non-Fungible Mean?

Fungible assets is can be exchanged for another of the same type. For example, Bitcoin is fungible. 

But non-fungible assets can’t be exchanged like fungible ones. Consider the house as simple non-fungible assets which are unique and have different values.

Non Fungible Tokens (NFT):

An NFT can be described as a set of data with a unique identifier and an ownership record that can’t be copied or modified. Each  NFT token is unique and it cannot be exchanged for another token like fungible assets but, NFTs can be purchased or sold online.

Unique Property Of NFT:

The following property is the main reason for the popularity of NFTs among the digital community:

Digital ownership:

Ownership of digital properties such as artwork can be certified using NFT. A collector can buy an NFT that is linked with the particular artwork and recorded on blockchain thus making it unique by preventing duplication works.

It is possible to create a market to sell or buy digital assets because of NFT. Collectors can support their favorite artists by buying NFTs linked with their art. They can also buy NFTs as an investment. Even popular memes can be tokenized and sold as an NFT. Meme stars like Ermagherd Girl (Maggie Goldenberger) and Scumbag Steve (Blake Boston) created this new trend by creating and auctioning meme-based NFTs.

How Do NFTs Work?

If you have knowledge of cryptocurrencies, you may have understood our description of NFTs. They both utilize blockchain technology and have similar qualities in some ways.

Blockchain  – A digital ledger that records transactions as a series of blocks. Each block is linked to previous ones with a cryptographic hash. thus resulting in an ever-building list of cryptographically linked records. Blockchains are distributed across computers throughout the world and cryptographically linked its impossible to modify the contained information the data making them a viable and preferred solution to store transactions without a central authority.

Initially developed to support fungible assets now the blockchain, particularly the Ethereum blockchain supports tokens that contain data about digital assets.

What Are NFTs Used For?

Apart from tokenizing digital arts and memes, NFTs can be used in the gaming sector to convert rare items like unique cars, weapons, etc. as NFT.

Also, the musician Grimes sold his video for $388,000 and Twitter CEO Jack Dorsey sold his first tweet as an NFT for almost $3 million.

How can you get into NFTs as a creator?

First, identify how to create one and link it with a digital asset. 

Then, choose a blockchain like Ethereum to store your NFT and create an Ethereum wallet with an exchange platform such as Coinbase. 

Finally, connect your wallet to an Ethereum marketplace such as OpenSea or Rarible, and export the asset. You can sell NFTs directly to collectors but Most NFTs are sold by auction.

NFTs are an interesting evolution of both the blockchain and digital markets. NFTs helps artists, writers, videographers, and musicians who struggle to monetize their work by creating a sustainable platform to showcase their skills

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How to Create Decentralized Finance (DeFi) Protocol like yearn. finance https://DX Business Group.io/blog/how-to-create-decentralized-finance-defi-protocol-like-yearn-finance/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-create-decentralized-finance-defi-protocol-like-yearn-finance https://DX Business Group.io/blog/how-to-create-decentralized-finance-defi-protocol-like-yearn-finance/#respond Thu, 04 Mar 2021 11:36:16 +0000 https://DX Business Group.io/blog/?p=204 Decentralized Finance is the hottest topic in the crypto space right now. This new initiative in the cryptocurrency industry is a vital one for further progress. Millions of users are flocking to DeFi platforms running on a group of  DeFi protocols for their buying and selling, trading, and exchanging needs. These protocols remove the need [...]

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Decentralized Finance is the hottest topic in the crypto space right now. This new initiative in the cryptocurrency industry is a vital one for further progress. Millions of users are flocking to DeFi platforms running on a group of  DeFi protocols for their buying and selling, trading, and exchanging needs. These protocols remove the need for financial intermediaries like banks or custodians. One such successful protocol is Yearn Finance.

Yearn Finance – A yield optimizer:

Yearn finance is a group of protocols backed by the ethereum blockchain through which a user can optimize their earnings simply by lending and trading their cryptocurrencies.

Yearn finance offers its service using only the powerful code thus eliminating the intervention of intermediaries.

How does it work?

It generates a high return by circulating the funds through the DeFi ecosystem. It is an advanced yield farming tool that functions in an automated way that aims to deliver a high return for traders by moving their funds between various liquidity pools of different projects using smart contracts.

To maximize users profits and obtain the best deal, it suggests and helps them to choose suitable projects to invest in using automated tools.

YFI – a governance token, distributed rarely to users, allows the holders to vote for changes on the protocol’s operational model. Like any other cryptocurrency, existing YFI can be bought or sold. It has been integrated with a fantom network which is another smart contract enabled layer. Using the yearn.finance platform, users earn YFI tokens after locking their cryptos in yearn.finance contracts running on the Balancer and Curve DeFi trading platforms. It is one of the fastest-growing DeFi projects.

Profits of YFI Token:

The Yearn.Finance protocol created by our developers is integrated with its native token – YFI.

This governance token is only distributed to the key liquidity providers of the Yearn protocol. The token holders have a slew of benefits such as the right to vote for changes in policies regarding protocol functions. This DeFi voting option is exclusive for YFI token holders. These YFI tokens can be deposited in the liquidity pools of the protocol for rewards. The YFI token of the Yearn protocol since its initial launch has been traded for over $44,000, surpassing the value of Bitcoin.

Products and workflow of Yearn.Finance:

Users can lock up their cryptos in a DeFi protocol to earn more cryptocurrency by a common practice called “yield farming”. The more assets they lock in a platform, the more tokens they are awarded by the protocols. This protocol is designed to deploy contracts to the Ethereum blockchain and on other decentralized exchanges such as Balancer and Curve.

Lending and Trading:

Yearn. finance services like Earn, Zap, and APY allow users to lend or trade their cryptocurrency. 

Earn – Allow users to get the best interest rate on lending, and it functions by searching across different lending protocols to find the best rates. 

To receive those interest rates, Users can then deposit their DAI, USDC, USDT, TUSD, or sUSD on the yearn.finance platform.

Zap – It saves time, transaction fees, and cost. With a single click, allows users to complete several investments. For instance, a user can trade DAI for yCRV in one, compared to multiple steps across the yearn. finance and Curve platforms. 

APY (annual percentage yield)- It gives the user an estimate on how much interest they can earn, for a certain capital amount on an annualized basis.

yearn.finance Vaults- Vault is straightforward. It is a complex service, allowing users to track investment strategies with the help of the platform’s self-executing code. Vaults are like actively managed mutual funds.

To understand the operation of vaults, a user should be familiar with the code. But users can deposit popular coins such as DAI and USDC in any strategy and can view its return on investment.

Benefits and use cases of Yearn.Finance:

  • It is a highly secure network and the protocol has in-built smart contracts
  • It holds the mantle as the most recognized decentralized platform in DeFi
  • Offers an amalgamation of technologies to defy centralized sectors and sustainable yields
  • It provides a streamlined approach to DeFi
  • Provides an open-source code that has been authenticated by the Yearn community
  • The YFI coin owners have a say/influence in the Yearn. Finance network and they can earn returns on the YFI tokens.
  • For depositing the tokens in liquidity pools, rewards are earned.

Why choose DX Business Group to build your own yearn-finance-like platform?

  • we can warrant that our Decentralized Finance (DeFi) Protocol Like yearn. Finance is sure to bring your business venture the visibility and advancement it deserves. 
  • All of our services are completely scalable so that our solutions will be able to support your business as it exponentially grows. 
  • The customizable nature of our products will hand over the reins to you to decide on customizations to make the product your own. 
  • Create a DeFi Protocol Like yearn. Finance on ethereum based protocol focusing on automated yield farming strategies. With our services, high ROI is guaranteed for your investments.
  • At DX Business Group, we have developed and launched a variety of Decentralized protocols and applications. 
  • With proficient developers and designers, our products have excelled in the crypto market. 
  • Trusting us with your Yearn. Finance like protocol development warrants high returns for your business venture.

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Launch your White Label Crypto Exchange Platform in a week https://DX Business Group.io/blog/cryptocurrency-exchange-development-services/?utm_source=rss&utm_medium=rss&utm_campaign=cryptocurrency-exchange-development-services https://DX Business Group.io/blog/cryptocurrency-exchange-development-services/#respond Thu, 18 Feb 2021 11:29:06 +0000 https://DX Business Group.io/blog/?p=176 Almost anything can be tokenized using blockchain technology and can be made as a digital asset. Tokenized assets can be traded between anyone and anywhere. Every single currency, asset, or even tweet can be tokenized. Therefore, digital assets will change the way people invest in financial markets.  Cryptocurrencies are predicted to disrupt many industries, in [...]

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Almost anything can be tokenized using blockchain technology and can be made as a digital asset. Tokenized assets can be traded between anyone and anywhere. Every single currency, asset, or even tweet can be tokenized. Therefore, digital assets will change the way people invest in financial markets. 

Cryptocurrencies are predicted to disrupt many industries, in particular the financial industry. Technology-driven solutions to support trading operations with a variety of tokenized assets is necessary. 

To address the needs of the emerging financial industry, DX Business Group comes with its Cryptocurrency Exchange Software Platform – which can be fully customized and liquidity-ready, that allows firms to start or level up their crypto exchange platform quickly. DX Business Group delivers a cost-effective solution to help fintech industries to focus on their business and customers to rapidly increase their revenues by offering a White-Label Platform.

White label crypto platform – An instant solution for all crypto-related transactions.

Features of Our White Label Exchange Software:

We reinforce our white label crypto exchange with the following features to deliver high-performance software.

High TPS (Transactions per second):

processing up to 100,000 transactions per second.

Powerful Trade Engine:

Our robust trade engine matches buy and sell orders with minimum latency

Hot Wallet:

multi-cryptocurrency wallets to secure storage and regulate smooth transactions.

Multi-layer Security:

Implemented with advanced security like SSL and two-factor authentication for encrypted user access and automatic limits on fund withdrawal.

Liquidity Option:

Liquidity is achieved by creating an API connection with an external provider by creating a business account.

Crypto and Fiat Support:

Our white label exchange supports a spectrum of currencies, including fiat and cryptocurrencies.

Staking:

Users can stake their crypto assets to earn lucrative staking rewards on top of their crypto holdings and grow them further by compounding their future rewards.

KYC and AML:

Other additional features like KYC and AML for user identity verification to withdraw a huge number of cryptocurrencies,

Referral and Reward Program:

Referral and Reward programs for attractive rewards or incentives to users.

Multi-Language Support:

multi-language support to increase the global reach of your cryptocurrency exchange

Advanced Chart Tools:

Advanced chart tools to allow users to view orders, positions, and annotate their trading strategy are also included in the White label platform.

Benefits of choosing our Cryptocurrency Exchange Script:
  • Market Ready
  • Reduced Development Cost
  • Easy to Customize
  • The market as your Own
  • No Technical Expertise Required
  • A Proven and Tested Platform

Unique Features of Our Cryptocurrency Exchange:

Leverage or Margin Trading:

An exchange integrated with margin trading allows traders to borrow a specific amount of funds to increase the size of their orders, which maximizes the gain from profitable trades. Some of the key features of margin trading are efficient risk management, pro trading interface, robust admin panel, and multi-layer security

Derivatives Trading (Futures Contract): 

Futures contracts are an agreement between the buyers and sellers to buy or sell assets at a later date for a fixed price. Long-short contracts, risk management, high throughput, and low latency are the key features.

Derivatives Trading (Perpetual Contracts):

Perpetual contracts provide your users with advanced trading options and take the lead in the highly competitive crypto market. One can buy a contract if one believes that the price of a given asset will elevate, or on the contrary, sell if one anticipates that the price of the asset will drop in the future. Stable, trustworthy, centralized, and high TPS (Transactions Per Second) are the advantages.

Copy Trading:

Trading cryptocurrencies for profits is not easy, especially for beginners. Fortunately, the concept of copy trading makes things easy for new investors. It allows the traders to mirror the trades of professional traders and benefit from their trading strategies. Some advantages of copy trading are multi-portfolio creation, daily profit/revenue calculator, and portfolio analytics.

Spot Trading:

Binance’s meteoric rise in the crypto market was driven by spot trading. Our experienced blockchain engineers integrate a robust spot trading module into your cryptocurrency exchange so you could empower your platform users to open and close orders instantly. We provide a complete ecosystem reinforced with multi-currency wallets for secure storage of cryptocurrencies, easy deposits and withdrawals, low-latency transactions, and institutional-grade security, thereby simplifying spot trading for your users.

Over-The-Counter (OTC) Trading:

Capitalize on the opportunity to amplify your revenue by integrating OTC trading into your crypto exchange. Eliminate slippage and provide liquidity to your exchange users while enabling them to exchange large amounts of cryptocurrency anonymously. Our OTC trading module facilitates direct trades between buyers and sellers, at a lightning speed. Multiple currencies support P2P payments, institutional-grade security, and a robust dispute management system are the key features.

Secured HTTP Authentication, data encryption to protect user credentials and other confidential information, Jail Login to prevent multiple failed attempts for a certain amount of time, Anti-Denial of Service (DoS) to protect the exchange from large requests to the server, cross-site request forgery (CSRF) protection to prevents state-changing requests and other unwanted user actions, server-side request forgery (SSRF) protection to protect internal systems from attacks sent from pregnable web applications are additional advantages.

Why Choose DX Business Group Software Solutions?

At DX Business Group software solutions, we help enterprises and start-ups navigate their crypto exchange development journey. With our white label crypto exchange development solution, we can help you launch your crypto exchange in just 7 days. At the core of our white label exchange platform are institutional-grade security and powerful infrastructure that together drive quick, secure, and authenticated transactions. In addition to white label exchange development, DX Business Group specializes in creating a custom crypto exchange from scratch, as per your business needs. DX Business Group can be your best service provider because of the following reasons.

  • Mission-driven services
  • Technology-agnostic solutions
  • The accelerated product development phase
  • Reduced development costs
  • Round-the-clock support
  • 10+ years of technical experience

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