DeFi-as-Service explained
The evolution of blockchain technology over the past decade has resulted in the creation of pioneering concepts of Decentralized Finance (DeFi) and more recently the NFT fuelled Metaverses. These are further enabled by the Web3.0 revolution that envisions a decentralized, data-driven ubiquitous internet that operates on intelligent algorithms. Thanks to constant developments in this space, the real-world use of resulting solutions has yielded promising results by solving many challenges faced by individuals, organizations, and businesses alike.
Still, in its early stages, Decentralized Finance has shown that inexpensive financial services, financial inclusion, investment opportunities, and absolute ownership of assets are very much possible, that too in a transparent and secure manner. The community is constantly innovating in the sector, giving birth to hundreds of DeFi projects every year.
No Dearth of Ideas, But Resources Short in Supply
Many innovative project ideas continue to pop their heads up on a regular basis, as the cryptocurrency and tech communities actively find new applications of blockchain technology. A lot of these project ideas are based on solid fundamentals with a diverse list of applications that could potentially take the market by storm. However, most of them never see the light of the day as it takes a lot of time, skills, and effort to turn it into reality. As everyone tries to build the next big DeFi project that can rake in millions, they are strapped for resources, and even if they have it all, the right team of developers at the right price is hard to come by. Not to mention the time it takes to build the entire project from scratch.
DeFi-as-a-Service to the Rescue
DeFi-as-a-Service (DaaS) is a new breed of solutions to speed up the development and launch of DeFi applications by providing all the necessary tools and building blocks. Developers can make use of these readymade, modular, plug-and-play utilities to create the desired decentralized application on any supported blockchain instead of writing the code for the entire project from scratch.
A reputable DaaS provider ensures that the solutions are developed by experienced professionals following good coding practices and subjecting the resulting modules to stringent testing regimens. By opting to use them, project owners can be assured of the quality and reliability of the code implementation.
The massive reduction in development time further helps the projects optimize their resource utilization and make a quick entry to the market as compared to the alternative. Further, it also supports quick iterations and feature additions to suit the user requirements and expand their product offering.
Propel as a World Class Blockchain Infrastructure Provider
Propel is an all-in-one blockchain infrastructure provider whose offerings include DeFi-as-a-Service, Metaverse-as-a-Service, and Staking-as-a-Service. The solutions offered by Propel can be used to create an entire DeFi ecosystem on multiple blockchains in no time.
The DeFi services offered by Propel include various smart contracts, cross-chain bridges, project and token dashboards, wallets, NFTs, staking contracts, and more. Every tool and solution under Propel’s belt are designed keeping the project requirements and user experience in mind, they are subjected to multiple quality checks and security audits to ensure their reliability and security.
Kicking off a project using Propel’s solutions is an easy process. Projects can make use of the following modules to manage their token sales complete with vesting period and implement various DeFi features in no time.
All Propel smart contracts are audited by Zokyo, BlockSec and TechRate.
Investor Dashboard
Created as an intuitive, user-friendly solution, the Propel Investor Dashboard allows project owners and investors to manage the tokens. Using the Investor Dashboard, project owners can organize token sale rounds, manage vesting schedules, transactions. The Investor Dashboard module acts as Mission Control for the DeFi projects tokenomics, with real-time data which can be used for understanding, forecasting and planning the objects without manual intervention.
Vesting Contract
Vesting Contracts play an important role in the fundraising process. It enables the tokens distributed as part of the seed, private and public rounds to be unlocked in a phased manner to ensure their efficient utilization. It also prevents token holders from dumping the tokens within a short time, thereby preserving the token valuation.
Propel enables users to create custom vesting schedules based on their requirements. These vesting contracts can be tailored for a variety of use cases.
Multisig Wallet
Propel’s white-labelled crypto wallet solution with multi-sig capabilities enables projects to create and offer the necessary infrastructure for users to hold, receive and send tokens. The wallet solution also supports ready integration with other existing DeFi, DEX and payment apps so that users can directly access them without having to exit the wallet.
Cross-chain Bridge
An important DeFi solution, a cross-chain bridge offers the capability of interoperability across different blockchain protocols. The white-labelled cross-chain bridge solution provided by Propel supports multiple layer 1 and layer 2 blockchains including Ethereum, Polygon, Binance Smart Chain, xDAI, and more.
Staking Contract
A basic operation on any DeFi project, token staking enables users to lock their tokens and earn rewards. By encouraging users to hold the tokens through staking, DeFi projects will be able to regulate the token supply in the market and also secure liquidity. Staking contracts are responsible for monitoring the staking program and issuing rewards to the participants. Propel’s plug-and-play staking contracts module allows projects to create custom staking contracts with desired reward pay-outs, pay-out frequency, and other parameters.
Yield Farming/LP Staking
Yield Farming/LP Staking contracts are a logical extension of regular staking contracts as it offers additional incentives to the community while assuring their participation in staking. Propel’s Yield Farming /LP Staking contracts are designed for quick customization and rapid deployment. Users can deploy the LP Staking Contract on AMMs like Uniswap, SushiSwap, and PancakeSwap in just a few clicks.
Lottery Contracts
Lottery smart contracts and decentralized random number generators (using Chainlink VRF) can be used to create incentive mechanisms for network participants, gambling dApps, and more, including No-Loss Lottery offerings.
Anti-Dumpster
The Anti Token Dumper module enables the sustained distribution of tokens over longer durations in a phased manner. By enabling projects to avoid the sudden influx of tokens into the market, the Anti-Dumpster module on Propel helps projects prevent token dumps and sudden price drops in the token market. The parameters of the Anti-Dumpster module can be customized based on the requirements.
NFT Minter and Token Creation
NFTs are the hot topic of the season. With Propel NFT Minter, anyone can mint their own NFTs using popular standards like ERC721, ERC1155, and ERC3712. The module also supports the creation of ERC20 and ERC2612 tokens with mint, burn, and other customizable options.
Custom Solutions
As an all-in-one, DaaS provider, Propel also offers custom solutions that are tailormade to fit the requirements of innovative crypto projects. By availing of Propel’s custom solutions, users can rest easy and enjoy the reliable, secure, and flexible offerings that meet the desired requirements.
Auditing Services
Apart from getting its own offerings audited by industry-leading cybersecurity firms, Propel also extends the service to other projects. Propel leverages its collaborations with reputed smart contracts auditing services to offer their services at subsidized prices and better timelines.
Propel Token Sale
As a provider of blockchain infrastructure for DeFi projects Propel incorporates a lot of DeFi features in its own operations. The platform is powered by its native $PEL utility token which acts as a medium of value exchange within the Propel ecosystem. It also plays a role in the governance, where $PEL holders can take part in community voting on various operational decisions.
The $PEL tokens will be up for grabs during the upcoming public sale which is scheduled to go live on 7th December 2021. Read entire details of the public sale event <here>
Propel has a total supply of 100 million $PEL, with most of it locked to meet the operational and rewards requirements. Only a small portion of the tokens will be offered during the token sale.
Soon, $PEL holders will be able to stake their tokens for rewards, contribute to the liquidity pool on AMMs, and participate in yield farming to earn exciting returns.
About Propel
Propel is a global blockchain infrastructure solutions platform that offers end-to-end plug-and-play infrastructure solutions to DeFi, NFT, and Metaverse projects. Propel’s solutions are available for multiple blockchain ecosystems and include multichain capabilities.
Propel holds the distinction of being the only provider offering DaaS, MaaS, and Staking solutions under a single umbrella.
Learn more about Propel
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