Discover how Nextrope's expertise powered EcoWay's DeFi platform
EcoWay is a project based on BEP20 protocol functioning within a decentralized data register (blockchain).
The objective of the Project is to increase the operating scale of the EcoWay mine and make its resources in the form of plots available for all the holders of ECY tokens issued by EcoWay by means of a dedicated e-commerce platform.
As part of the continuously developed IT infrastructure, the EcoWay platform renders a service of making the space of hard disks available to the benefit of CHIA protocol.
Enhancing ECY Token Staking
EcoWay is a platform that allows users to access Chia farming profits without building their own mining infrastructure. Nextrope built the Blockchain-backbone of the system: the DeFi platform for staking XCH (Chia) tokens.
The goal of the project was a service that allowed users to add and remove ECY tokens from staking. The application was to calculate the yield for each user from the amount sent by the administration according to the number of tokens frozen and the time of freezing. Every certain period of time, a lottery was to be launched, which would draw 200 eligible users. The lottery was to distribute the amount that had not been distributed when calculating the tokens. The service was to allow the administration to view the collected and won coins, make adjustments if necessary, and approve the shipment to users' wallets.
Staking Contract, Token Contract, Front-end, Back-end Integration
Nextrope made the Blockchain service available guaranteeing the quality consistent with the quality standard contained in the contract
Blockchain Strategy Manager, Alior Bank
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Challenges in this project encompassed a strong product orientation, necessitating in-depth scoping workshops with the client prior to the development phase. These workshops were critical in aligning our development goals with the client's vision and ensuring that the end product would effectively meet their specific needs. Additionally, a significant challenge we faced was the strong research and development (R&D) component of the project. This included developing on a new and untested Blockchain network, essentially building version 1.0 from the ground up. This ambitious task required extensive experimentation, thorough testing, and innovative problem-solving to establish a stable and secure foundation for the service. Meeting these challenges head-on was essential to deliver a successful ECY token staking platform that met the client's expectations and provided users with a seamless and secure experience.
Requirements for the project and the technology partner
- A team of the best experts in FinTech and Blockchain in the CEE
- Product workshops with the client
- Service availability and scalability
- Delivery time
- Communication fit
- Research on the Chialeaf Blockchain in its early build (v1.0)
JWT Authentication with Metamask IntegrationWe implemented JWT (JSON Web Token) authentication with seamless Metamask integration, ensuring a user-friendly and highly secure access method. This integration allowed users to authenticate themselves using their Metamask wallets, enhancing the overall security of the platform.
Token Staking with Advanced User StatsOur platform offered a comprehensive solution for token staking, enabling users to earn rewards by holding funds in their wallets. This not only encouraged long-term holding but also contributed to the security and liquidity of the ecosystem. Additionally, we provided advanced user statistics, allowing users to track and analyze their staking activities, thereby promoting informed decision-making.
Chia Infrastructure for Address and Wallet ManagementWe established a robust Chia infrastructure, incorporating a database that stored ERC-20 addresses and their respective XCH (Chia) wallets. This infrastructure facilitated the efficient management of user data and provided a seamless experience when associating addresses with pseudonyms for lottery wins. Users could easily retrieve their addresses and pseudonyms, enhancing the transparency of the lottery system.
Lottery Reward DistributionThe platform featured an automated lottery reward distribution system. Eligible users, selected at specified intervals, received their respective rewards, ensuring a fair and transparent distribution process. This functionality not only added an element of excitement to the platform but also served as an efficient means of disbursing unallocated tokens, promoting user engagement and satisfaction.
“New Wave of Eco-Blockchains – why it matters and how you can act”
Nextrope conducted research on the Chialeaf Blockchain in its early build (v1.0) and led product workshops with the client to design the infrastructure and UI/UX. Then, Nextrope developed the entire system in the scope of smart contracts, back-end, front-end and deployment. As a result, we delivered a platform to kick-start the MVP of a mass-scale DeFi solution on the new, green Chialeaf Blockchain
Node.js with Loopback framework for serving REST API
Nginx application server
Key takeaways about Nextrope
Nextrope is an international software development company focused on practical blockchain applications, dApps and artificial intelligence. Starting in 2015 and with clients from all over the world we are known as pioneers in the growing, decentralized ecosystem.