Earnity co-founders Dan Schatt and Domenic Carosa know that if a DeFi project were simple, everyone would create one. Having a unique concept is the first step to a successful DeFi project. Strategic preparation and practical execution are needed to provide a secure and user-friendly solution. Here are some of the most important factors to consider:
Estimates for design, development, and testing – While decentralized apps can take up to three months to create, better planning can help you and your team budget and efficiently accumulate resources.
Business analysis – A solid concept should be tested thoroughly against any projects rivals have done or are doing and if there is enough demand for the application to make it profitable.
Technical analysis – Research is needed to discover which technologies will best meet the application’s performance and whether there’ll be any limits that would impede the project’s progress.
DeFi integration – Because DeFi applications work as part of a larger ecosystem, careful consideration must be given to which apps your project will link.
Putting together a team — Some firms choose to have an in-house development team, while others prefer to outsource to an external development team. The majority of the time, recruiting a team entails recruiting software engineers to write the application itself and front/back-end developers to work with UX and UI features.
Upgrades and bug fixes in the future — After the development period, how will the program be maintained and updated? It is essential to have this plan solidified before moving into the execution stages.
Promotion – The DeFi industry is a competitive and rapidly expanding field. How will you build a community that will help you connect with and promote your app, not simply an audience?
The above points are concerned with the overall development of a DeFi project and will help you make a good DeFi project. In addition, Earnity by Dan Schatt and Domenic Carosa will continue to offer innovative DeFi products and protocols.