This whitepaper covers a development checklist for building a Defi staking platform. DeFi or Decentralized finance space is a fast-growing industry. It offers a series of fintech solutions based on secure blockchain technology. DeFi products are characterized by their decentralized nature. An organization and its employees do not manage them, instead, the operation rules are written in code (or smart contracts). This code is entirely transparent on the blockchain for anyone to audit. This leads to a trustless system, where everyone can view the details of the transactions that take place. DeFi products can be used by anyone and are often composed by combining multiple products. Learn more on How to launch a Defi project
DeFi boosts the functionality and reach of money while providing a financial system that is more open and liberalized than ever before. The DeFi market is quite small in relation to traditional finance, but it is expanding at rapid rates. This creates much hope for a financial revolution that supports decentralization and transparency. It takes us one step closer to democratizing the global economy, making everyone’s money and payments universally accessible.
Estimates indicate that by 2022, $800 billion worth of crypto assets would be locked into Defi projects. Over the past few years, we have seen many innovations and projects emerging in DeFi domains. One of the latest DeFi applications catching up is DeFi staking platforms. It allows its users to stake crypto assets and earn profits from investments.
This whitepaper will cover bare minimum functional checklists for the user modules, stake options, pools, referrals, etc. Platform features and functionalities, basic minimum modules, and opportunities. Recommended technology stack, blockchain platforms, infrastructure requirements, etc. Recommended DeFi staking app process flow for stake, rewards, and pools. Checklists for platform security, general security, operational security, high-level development roadmap, dependencies, Gantt charts, development functions, etc.