From the creation of Ethereum’s Defi protocol to the inception of Pancake Swap and Colony Lab protocols, Decentralized finance is in many ways the definitive, most crucial application that blockchain is currently used for.
The Defi ecosystem serves as a platform for traders to find the best prices. Direct links between people are established to receive payment immediately in exchange for goods or services (Proof of Exchange). Merchants can offer their businesses using local currency stable and reasonably low fees.
Defi apps are the best proof of concept, tools, and platforms for small businesses to build an accredited Defi business.
This article will explain how to build your own Defi company and list the apps and services integrated with Defi technology.
Let’s get straight to the point!
Understanding Defi technology
Decentralized finance(Defi) is the peer-to-peer financial service where outputs (aka exchange tokens) are stable and instantaneously exchanged value.
For this article, we will define Defi as financial services built on top of cryptocurrencies(e.g., Et,hereum) that utilizes blockchain crypto assets such as securities, currencies/ Ip tokens, commodities, etc. Defi removes intermediaries to control the transactions, removes dual-price volatility, ensures good markets and Liquidity, protects customers from double-spending/fraudulently created assets on-chain, etc. It is similar to the Defi app economy and ecosystem you would use when setting up a business in any fiat currency-based country.
The current Defi market cap total value stands at an estimate of $250,000Bn (at the time of this writing) and doesn’t show signs of slowing down, which makes it just the perfect time to start your own Defi company.
Smart contracts offer the best solutions for decentralized payment methods and transactions. Tokenized synthetic assets complete solutions to equity funding models. Atomic swaps will eliminate power imbalances, allowing closed-end companies to integrate intensely with banks and other marketplaces. It is no wonder why people are exploring the possibilities of how smart contracts can solve more problems than just their technical applications enable them to do so!
Decentralized exchange, crypto-leasing, ICOs(Initial coin offerings), and even the various fundraising models are all possible with DeFDefind this is why Defi is revolutionizing the traditional finance world. The banking industry, for example, has long been criticized for its poor record of customer protection, low transparency, and high fees. The times are changing from where we have to choose between being victims or entrepreneurs!
The Defi concept is just the beginning; it will be an easy way to introduce people worldwide into adopting the current financial system by simply allowing them to use cryptocurrencies as they already do on social media platforms (anonymously).
What are DeFi Platforms?
Defi platforms are all about guiding users in the most rewarding way possible. These platforms/apps aim to provide their service to other projects where they can utilize tokenization for funding and facilitate a highly liquid ecosystem for said Ip tokens on DeFi s connected by smart contracts and atomic swap protocols. DeFi platforms are so well suited for the overhauling financial system that they focus on creating a “smart bank.”
These platforms enable the user to use DeFi tokens in a highly liquid network of hubs connected by smart contracts, atomic swaps, and open APIs. DeFi users worldwide can purchase any token on these hubs with fiat or crypto payment methods. They then can instantly exchange their DLT for any other native token, just like exchanging “junk” gold coins for different precious stones: no transaction fees!
These platforms are integrated seamlessly onto decentralized apps, wallets, and other online tools. They allow users to buy tokens right inside their official apps/websites, like traditional brokerage firms providing trading services. And this means that they can purchase any token on the platform with fiat or alternatives such as crypto while exchanging it all in blockchain interoperability – imagine buying stocks on your phone!
What are Decentralized Apps-DApps?
DeFi applications-DApps are decentralized services that allow you to trade digital assets on a decentralized network like the Ethereum network. DApps, for their part, efficiently make use of smart contracts. DApps are the next evolutionary step to provide financial services that fit into everyday life. A DeFi app-DApp is a software application that converts cryptocurrency to fiat or bitcoin funds directly from an exchange without going through a bank account, credit card, or another third-party service intermediary interacting with the blockchain technology Ethereum Smart Contracts on servers controlled by businesses only.
- Some DApps allow you to lend and borrow money through smart contracts.The other aspect leading towards the creation of DeFi is lowering fees and costs, which eventually leads to more Liquidity in markets. Being able to trade digital assets without mediating intermediaries can significantly lower transaction costs, simplify onboarding new users, and provide price transparency as well as audibility/traceability for everybody involved because every single person (user) can track transactions on their basis since there are no intermediaries to carry out the exchange of funds.Write_check_mark in DeFi refers to various DeFi projects in an advanced stage of development. In these cases, the anticipated contracts have already been developed, and most companies like Coinbase or eToro can provide real-world examples of how this works.
Eyes in DeFi refer to various DeFi projects in an early-stage own research phase. These apps play a significant role because they allow users to test potential applications without first having to commit money or take on the responsibilities associated with drawing up smart contracts.
Raised_hands in DeFi refer to various DeFi projects still in an early-stage development mode.
Imperfect hands refer to various DApps where the final, polished version does not exist but is on its way and will soon be available for public use and user adoption.
Related read: How to choose a business model.
What is the best DeFi app? Top 8 Best Defi Apps- DApps
Uniswap is a decentralized protocol for buying, selling, and trading crypto. Uniswap differs from centralized exchanges, making users give up their private keys; Uniswap allows users to maintain total control of their funds.
When trading on Uniswap, a liquidity provider earns a percentage of every trade that uses the liquidity pool they hold their funds in. Transactions occur because people can become liquidity partners, which means they pool their money with other individuals on one platform. Doing so allows people to get Uniswap Dapp, ARK’s Fully Anonymous Blockchain Transactional System. This concept is similar to Liquidity As Provider (LAP) or Liquidity Network, which provides DApps with Liquidity at a minimal cost.
Users who wish to sell their digital assets can do so through zero trading fees available on Uniswap and without giving up control of funds because they only give crypto coins as payment. Buying cryptocurrencies occurs from a crypto wallet, where the payment method is made via two-factor authentication (2FA).
You can build and manage your Defi business on the EpiProdux platform. And this tool will help you in customer segmentation, market segmentation, customer journey visualization, customer experience mapping, strategy upfront,” etc. Customer segmentation and market segmentation are vital for your DeFi business because they allow companies to define their target audience and determine which most suitable products your community. Typically, the best method is to split your country or regional market into smaller markets by researching demographic information and critical economic indicators like educational backgrounds, levels of income in different cities or geographical areas. And this makes EpiProdux unique and tailored for Defi.
2.MakerDao DeFi Platform
MakerDao DeFi protocol is a Decentralized Autonomous Organization that enables users to generate Dai by leveraging collateral assets approved by “Maker Governance.” Maker was created to address volatility in their USD-fixed token, DAI, and gives the community a voice in the project’s future direction. Financial transactions provide collateral to the DAI Smart Contract, while community votes determine how MakerDao rewards 20% dividends and voting tokens.
With MPC & CDP functionality, real-time pricing is free from market volatility until the vote is issued during the negotiation process.
Maker will give out “Loyalty Points” that can be redeemed for future usage directly on their platform instead of looking into third-party solutions such as time banks and other tokenization platforms. MakerDao also focuses on mobile application development, making it possible for the members to move from essential website services into one focused purpose to benefit a long-term way rather than just short-term gains.
Maker DAO will not require centralized exchange backup systems such as Singular’s Pivotal points of control because all rewards are paid in Dai, regardless of vote outcome solution.
EpiProdux‘s product management tool is essential to the growth of your DeFi company since it provides customer segmentation analytics that helps your DeFi business diversify into many more applications, competitive analysis & pricing comparisons against competitors. These benefits your DeFi business by providing beneficial strategic partnerships, pricing improvements, solution enhancements, and customer growth, making EpiProdux a necessary tool to have when starting your DeFi company.
- Raydium DeFi DApp
Raydium DeFi is a decentralized application that fueled the economy on the Solana blockchain. It’s an automated market maker, autonomous liquidity provider, and social system for all Ethereum communities to get new projects into the Serum Decentralized Exchange (DEX).
Raydium is DApp and an automated market maker that provides Liquidity and the economy on the blockchain. It’s number one advantage is its ability to provide Liquidity to the centralized limit order book of Serum. Raydium LPs can access all Liquidity throughout Serum and aim to be the leading protocol among AMMs and liquidity providers.
Start a DeFi company today with EpiProdux‘s profit-centric road-mapping tool. And this software comes in handy in enhancing the effective implementation of price segmentation strategies. Price segmentation strategies will help you produce the best team and amass the proper infrastructure. Its existence will provide new growth opportunities to your DeFi company, making it a fruitful tool for your business.
- Sushi Swap DeFi App
Swap, earn, stack yields, lend, borrow and leverage all on one decentralized, community-driven platform; Sushi Swap. Sushi is a trading DeFi decentralized application with the entire DeFi synergy. The project’s community is continuously expanding its ecosystem with never-ending support. Also, this DApp is an ERC20 token on the Ethereum blockchain. It is built on the Polygene protocol. And this crypto asset has experienced some success, ranking among available 7th place in overall DApp rankings and 4th in the DeFi category, among the biggest competitors.
EpiProdux‘s product road-mapping tool will help you create targeted marketing campaigns for your DeFi company and learn from your customers to address their problems. Marketing campaigns help improve your company’s efficiency and effectiveness, making EpiProdux a great software to have when starting and managing your DeFi business.
Polygon maintains promise as an interchain scalability DeFi protocol that maintains the benefits of Ethereum’s Liquidity, security, and interoperability with the flexibility and scalability of altcoins. In addition, the implementation of interoperability services allows for numerous token standards to be maintained. The Polygon wallet app is also built upon top-notch UX that creates an enjoyable and streamlined user experience, just as Ethereum owners are used to with their flagship Blockchain Wallet App.
EpiProdux‘s product management software will help you calculate profit margins and marketing strategies for your DeFi business. By calculating margins, you will know the operating expenses of your DeFi business, understand the cost of goods sold(cogs) of your business, and make strategic financial projections. You can’t miss having EpiProdux’s product road-mapping when starting your DeFi company.
- Pancake Swap DeFi Exchange Platform
Unlike UniSwap, which is based on the Ethereum blockchain and currently has liquidity issues, PancakeSwap is powered by the Binance Smart Chain and enables users to trade between cryptocurrencies quickly and cheaply using liquidity pools. Pancake Swap provides liquidity pools for various digital assets so that experienced traders can gain access to them through a simple agreement. Pancake Swap is fast and easy to use but has no minimum trading volume requirement or other stifling stipulations placed on accounts by their operators.
Start a DeFi company with EpiProdux‘s profit-centric road-mapping tool. EpiProdux will help you understand customers’ needs, familiarize yourself with your business objectives, and know what it would take for you to reach them. Understanding your customers’ needs will help you gain customers’ confidence and build your DeFi brand and PR strategy. Also, understanding your customers’ needs means customer satisfaction which leads to repeat business.
If a DeFi business sounds like the right decision to you, then start using EpiProdux’s profit-centric product management solution.
Related read: Complete guide for blockchain business models 2022
- Biswap DeFi App
Biswap is a decentralized exchange. On it, you can trade different tokens in a decentralized manner. The tokens need to be BEP-20-friendly, though!
Biswap has three different types of referral bonuses for you to explore, too. It’s a project based on the Binance Smart Chain. Now ranked #14 in general dApps and #7 on the DeFi category, Biswap has proven it performs better than its competition. The Biswap DEX is a three-tier referral system with the most cashback in the decentralized finance space.
Start your DeFi company using EpiProdux’s product road-mapping software. And this software will provide you with strategic and unique customer segmentation analysis for your DeFi business. Customer segmentation analysis helps your DeFi business build brand loyalty, attract new customers and create awareness around DeFi products.
If you would like to enjoy the benefits of strategic customer segmentation analysis, use EpiProdux’s product management tool.
- Golem DeFi Protocol
Golem decentralized marketplace works by renting out your computing power over the web. This includes both hardware and the apps on your devices. Liquidity providers can rent out their computing power, paying whenever someone wants to buy some of it for a small task. Requestors then purchase some of that computational power for their mini-tasks, earning tokens in return.
Optimize your next DeFi company’s product launch with EpiProdux‘s product management tool. Increase your DeFi business average order value through market research with this software. And this will help your DeFi business establish your market positioning, lead to more sales, and result in your DeFi company’s growth and development.
- Kwenta DeFi App
The DApp Kwenta is a new trading system that combines the benefits of a decentralized peer-to-peer trading model with the ease of execution offered by the centralized industry paradigm. The platform leverages Synthetix—Synths can be traded instantly into any other Synth, so traders don’t have to worry about certain limitations, such as Liquidity, slippage, or order books. Kwenta provides fast transactions, and you don’t have to pay high gas fees with their Optimism’s layer two solutions.
Strengthen your DeFi business growth goals with EpiProdux’s profit-centric product road-mapping tool. Optimize your revenue with our powerful business platform.
Innovate your company growth goals with EpiProdux’s robust product road-mapping software. Increase customer engagement through market research and different strategies with our profitable business platform. Revaluation of a project can be automated using the EpiProdux dashboards by providing intelligent data insights to managers, decision-makers, and stakeholders. And this will help you know how vital selling DeFi products Y is for a targeted market rather than product X for the same market.
If you want to start your DeFi company, you need to evaluate your business needs. And if you’re going to build a global DeFi ecosystem, knowing how each participant can help is critical.
Work with EpiProdux’s product road-mapping tool. Epiprodux provides scalable and standardized product and roadmap management for DeFi businesses. With detailed analysis for profitability and customer feedback, you will never have to wonder what your business or customers need.
EpiProdux’s product management platform helps you identify ways to boost profits through strategic market research, targeted marketing campaigns, customer segmentation, revaluation of your DeFi company projects, and so much more.
Start your free trial here today to get a demo of this program.