DeFi Platform Development for Lending and Borrowing
Ideation
UX Strategy
UI/UX Design
Front-end
Back-end
Smart Contract Development
Blockchain Integration
Post-Launch Support and Maintenance
About the Client
Our client is a visionary entrepreneur with an extensive background in Fintech and
Crypto, possessing a deep knowledge of decentralized finance. He is known for his
previous successful ventures in Blockchain startups.
Industry:
DeFi | Fintech
Client:
Under NDA
Country:
USA
Time Frame:
12 months
Team:
Project Manager
2 Product Designers
Tech Lead
2 Backend Developers
DevOps Engineer
Business Analyst
Solution Architect
2 Blockchain Developer
2 Frontend Developers
2 QA Engineers
Business Goal
Develop a global, secure DeFi lending and borrowing platform to capitalize on emerging market opportunities. Leveraging the potential of blockchain technology, the platform is aimed to eliminate the necessity for intermediaries, empowering users around the globe to securely lend and borrow cryptocurrency from each other and seize control of their financial future.
Partnership
Story
We met the client a year and a half ago at a European Blockchain Convention conference. At that time, he had just a rough idea in mind about developing a DeFi platform for lending and borrowing operations.
Over the next three months, we stayed in touch, so when the project idea became clear, the client reached out to Altum Software with a development project for one of his companies to evaluate our capabilities.
After successfully delivering the project within the required timeline and with no bugs, the client decided to go further and choose us as the strategic vendor for developing a robust DeFI lending and borrowing platform.
Currently, we continuously maintain the platform, keeping it robust and user-friendly. Additionally, we’re actively developing new advanced features to improve users’ loan management experience.
About
the Project
Challenge
The client was seeking a long-term DeFi development partner who would have enough technical expertise to build a DeFi lending protocol with complex functionalities and features and a successful track record in smart contract development. Ultimately, the client approached Altum Software to develop a fully functional, innovative DeFi lending platform aimed at revolutionizing the financial landscape.
We conducted around five brainstorming sessions with the client, where we discussed business strategies and generated various hypotheses and ideas on the platform’s UVP and key differentiating factors, ensuring alignment with the client’s vision and market demands.
The client envisioned a cutting-edge DeFi lending platform that would integrate secure and transparent smart contracts, adhere to regulatory compliance from the ground up, and feature a minimalist design with frictionless UX. The platform was intended to have a reliable and scalable infrastructure to withstand high transaction volumes.
Functionality-wise, the client requested a feature-rich platform with real-time market rates data, seamless integration with leading wallets, a liquidity pool, a fiat gateway, as well as advanced capabilities, including flash loans, staking, yield swaps, and credit delegation.
Moreover, the DeFi lending protocol must integrate advanced and comprehensive analytics to ensure users can seamlessly track their loans and earnings in real-time.
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.
Tech Stack
Implemented
Features
Data Security and Regulatory Compliance
Since the financial and crypto landscapes are highly regulated, our security experts
ensured the compliance of the DeFi lending platform to safeguard users' financial
data and funds while helping the client navigate all the regulatory considerations.
We implemented data security best practices, such as continuous security audits,
advanced encryption protocols, and formal verification to provide users with secure
and transparent decentralized financial services.
Key Outcomes
Developed a robust DeFi lending and borrowing platform with a scalable infrastructure, ensuring consistent performance and reliability, laying a solid foundation for lending and borrowing operations.
Created and rigorously tested smart contracts for lending, borrowing, collateral & interest rate management, etc, ensuring secure and transparent operations of the DeFi lending protocol.
Designed a frictionless onboarding process and crafted user flows, considering lenders' and borrowers' needs to provide a self-explanatory, easy-to-navigate solution and enhance the overall user experience.
Conducted over 200 tests, including unit tests, integration tests, and audits, to identify bugs and promptly fix them for a robust final product, ensuring reliability and security.
Clutch proves we craft outstanding digital products.
"Feedback was always taken seriously, and requests were implemented."
Tim Schöllkopf Head of Performance, Data & Tech, Rocket X GmbH
"Everyone at Altum was always timely in responding and completing the required actions."
John Laskowsky Founding Partner, Granie Street Partners
They deliver the best quality in no time.
Dominik Gasser Founder & Creative Director, Reach Partners AG
"I highly value their can-do attitude, skills, friendliness, discretion, and on-time deliveries of top projects."
Natalie Koller Senior Account Director, Branding Agency
"Feedback was always taken seriously, and requests were implemented."
Tim Schöllkopf Head of Performance, Data & Tech, Rocket X GmbH
"Everyone at Altum was always timely in responding and completing the required actions."
John Laskowsky Founding Partner, Granie Street Partners
They deliver the best quality in no time.
Dominik Gasser Founder & Creative Director, Reach Partners AG
"I highly value their can-do attitude, skills, friendliness, discretion, and on-time deliveries of top projects."
Natalie Koller Senior Account Director, Branding Agency
We’re 100% satisfied with their work.
Kyle Watson Director Of Marketing & Business Development, Entrinsik
"The Altum team is professional, talented, fast, and very dedicated to their work."
Meghan Tucker Director of Operations, Grounded World
"The team was very friendly and communicated well."
Adam Cajkler Head of Design at SaaStock
"I was most impressed by their adaptability and responsiveness."
Jared Roberts Brand Design Director at Pearl Health
We’re 100% satisfied with their work.
Kyle Watson Director Of Marketing & Business Development, Entrinsik
"The Altum team is professional, talented, fast, and very dedicated to their work."
Meghan Tucker Director of Operations, Grounded World
"The team was very friendly and communicated well."
Adam Cajkler Head of Design at SaaStock
"I was most impressed by their adaptability and responsiveness."
Jared Roberts Brand Design Director at Pearl Health