Cryptocurrency Trading Platform Development For Efficient Transactions with Ethereum
How Onix developed a decentralized application (dApp) for crypto enthusiasts and investors interested in the Non-Fungible Token (NFT) sector
The product is a cryptocurrency trading platform enabling users to transact with Ethereum.
It is based on Goerli API and works with Metamask wallet. It has multi-language support and facilitates Ethereum transactions. It’s unique in its focus on lending, with a decentralized non-custodial lending protocol where users can participate as lenders or borrowers.
Fintech
Industry
2 developers
Team size
USA
Location
6 months
Project duration
[ Business Context ]
The customer's business idea was building a crypto exchange platform where users can participate as lenders or borrowers.
Namely, where lenders provide capital to the ecosystem and earn a passive income, and borrowers can borrow against their NFTs via over-collateralized loans of unlimited duration.
The initial focus of this project was on digital art NFTs, NFT gaming assets, and metaverse land, with plans to expand to NFTs for IP and tokenized real-world assets. When the client approached Onix, they had no supporting documentation or design.
[ The Onix team needed to ]
Thus, in this case study on crypto-trading platform development, Onix experts faced the following challenges:
Set up effective management and transparent development process
Identify and gather requirements to meet project objectives
Build an easy-to-use crypto trading platform
Implement robust data processing functionality
Add personalization elements
Design an intuitive interface users can easily understand
Develop a real-time updates feature
Ready to upgrade
your fintech business
by leveraging
best-in-class technologies?
[ Our Solutions ]
Our experts implemented a cryptocurrency trading platform using Goerli API and Metamask wallet.
The platform now has multilanguage support and facilitates Ethereum transactions. We also integrated the web3.0-react library to facilitate authorization using the Metamask and WalletConnect crypto wallets. The main functional page of the application is the marketplace page, where users can buy and sell their NFTs for Ethereum.
The real-time updates feature presented a challenge in terms of integrating with external data sources and ensuring that updates were delivered in a timely manner. Our team worked closely with data providers and implemented robust data processing and delivery systems to ensure that users received real-time updates as expected.
User-friendly interface and personalization
We created an interface that is easy to navigate and use, regardless of a user's technical background.
Also, we designed functionality that allows users customize their experience and tailor content to their interests.
Real-time updates
We developed functionality that provides users with the most up-to-date information and keeps them engaged with the app.
To achieve these features, our team came up with solutions such as using a clean and modern design, implementing Metamask algorithms to provide personalized content recommendations, and integrating real-time data feeds.
Auth functionality
Web3-react provides a provider system that abstracts the underlying blockchain infrastructure, making it easier to work with the Ethereum network. We used the provider to manage authentication with the Ethereum network.
Web3-react also includes some pre-built components that can be used to detect whether the user has a web3 wallet installed and whether they are connected to the Ethereum network.
Borrow, Loan and Buy NFT functionality
To interact with the Ethereum network, we used Ethers.js. Ethers is a JavaScript library for working with Ethereum that provides a high-level API for sending transactions, calling smart contracts, and other tasks.
For the Borrow and Loan functionality,
We created smart contracts that manage the lending and borrowing of NFTs.
The smart contracts will define the rules for lending and borrowing, such as the terms of the loan, interest rates, and repayment schedules.
For the Buy NFT functionality,
We created our own NFT marketplace. To create an NFT marketplace, we use smart contracts to manage the listing and buying of NFTs.
We created a user interface that allows the user to list their NFTs and buy other NFTs that are available for sale. To interact with the smart contracts, we use Ethers.js to call their functions and send transactions.
Core Technology Stack We Use
Framework - Next.js
Wallet - MetaMask
API - Goerli
[ Client Testimonial ]
Here is our client's statement about their experience with the Onix services
“It’s been a great pleasure working with such a professional team.”
Ariel Shain
Technology advisor to MedTech Holdings
[ Results ]
As a result of our work together with the data providers, we managed to create a truly intuitive crypto trading platform.
Our top-notch UI and UX make it easy for users to navigate the platform and find what they are looking for. This makes the platform more user-friendly and can help reduce user frustration.
An intuitive user experience now also helps users to complete tasks more quickly and efficiently. This is crucial for trading platforms where speed and accuracy are essential.
A well-designed UI and UX can also reduce the likelihood of user errors. This is important for fintech trading platforms where even a small mistake can have significant financial consequences.
