Solution
A project of such scale required a team of 15 experts. After defining the product’s scope, requirements, and necessary features, we set up a scalable DeFi platform infrastructure to ensure consistent performance. This involved choosing Ethereum as the most suitable Blockchain network to support decentralized operations. Altum’s team defined a robust tech stack for the platform, including smart contracts, ensuring full integrity and seamless functionality.
Product design
Afterward, we entered into a 7-week product-design phase during which our team crafted a user-friendly onboarding process, meticulously defined user flows, and key functionality for lenders and borrowers. For lenders, this included assets depositing, settlement of lending terms, interest rate setting, and return of investments tracking. For borrowers, it involved tracking available loan offers, selecting loan terms, granting collateral, and monitoring loan status. We prioritized effortless functionality, frictionless UX, and a minimalist, easy-to-navigate interface to make lending and borrowing experiences seamless for users. Every step of the platform was crafted with the end-user in mind to provide clarity while interacting with the platform. To ensure a flawless user experience across the DeFi lending platform, we continuously conducted usability tests and refined user flows.
Development
On the development side, Altum’s team started a 17-week development stage of the DeFi platform, focusing on three key aspects: front-end, back-end, and smart contract development. We implemented secure and reliable smart contracts for lending, borrowing operations, and secure collateral management. Also, we incorporated dynamic interest rate algorithms and collateral liquidation to protect lenders’ interests and ensure the system’s integrity. We leveraged React.js on the front-end side and Node.js on the back-end side. Our team developed APIs to enable communication between all components and set up the database management system using PostgreSQL to handle data storage efficiently.
Quality assurance
Through consistent testing during the development process, we conducted over 200 tests, including unit tests, to ensure the flawless functionality of individual components and functions, namely, interest rate calculations, transaction processing, collateral management, and others. Integration tests were performed to check the smart contract’s seamless compatibility with other DeFi platform components. Moreover, a profound audit was conducted by our team, during which we discovered some bugs and inefficiencies that were promptly resolved. Such a comprehensive QA approach resulted in a secure, robust, and reliable DeFi platform that meets the highest quality standards.