ABOUT THE PROJECT
A decentralized web application for people to create crypto tokens, liquidity pools, and auto-compounding farms on the Ethereum & Arbitrum blockchains. The reason behind creating Contrax was to provide a platform for non-technical users to create tokens, liquidity pools, and auto-compounding farms without any complicated process.
CONTRAX THROUGH NUMBERS
5
+
Smart Contracts Written
$
20K
+
Angel Investment Raised
2
+
Blockchains Supported
What did Contrax want?
A user-friendly platform incorporates a token creation mechanism where potential users create ERC20 tokens. They wanted to equip the user with the ability to control the supply and implement features such as liquidity pool and auto compounding. Their goal was to get a platform to lower the barrier of entry to DeFi.
REQUIREMENTS FOR THE APPLICATION
- Creating an optimized yield
- User-friendly platform with no coding knowledge
- Creating a secure and safe DeFI platform
- Build it as a Decentralized Finance (DeFi) web application
- Scalable design
ABOUT THE PROJECT
A decentralized web application for people to create crypto tokens, liquidity pools, and auto-compounding farms on the Ethereum & Arbitrum blockchains. The reason behind creating Contrax was to provide a platform for non-technical users to create tokens, liquidity pools, and auto-compounding farms without any complicated process.
CONTRAX THROUGH NUMBERS
5
+
Smart Contracts Written
$
20K
+
Angel Investment Raised
2
+
Blockchains Supported
What did Contrax want?
A user-friendly platform incorporates a token creation mechanism where potential users create ERC20 tokens. They wanted to equip the user with the ability to control the supply and implement features such as liquidity pool and auto compounding. Their goal was to get a platform to lower the barrier of entry to DeFi.
REQUIREMENTS FOR THE APPLICATION
- Creating an optimized yield
- User-friendly platform with no coding knowledge
- Creating a secure and safe DeFI platform
- Build it as a Decentralized Finance (DeFi) web application
- Scalable design
Our Solution
STACK
No items found.
- Web3.js library integration, including metamask
- Frontend: React
- AWS amazon web services for limited back-end
- Figma for prototyping
- GitHub for open-source code hosting and versioning
Frontend Libraries and Tools:
- Styled-components
- Sweet alert
- Web-vitals
- React-google-charts
SERVICES
What is an ERC20 token?
"ERC20" refers to a scripting standard used within the Ethereum blockchain. A fungible token is any token that can be interchangeable with any other token. Tokens, in this regard, are any assets, rights, ownership, or anything that isn’t unique and can be transferred. With the help of ERC-20, different smart-contract enabled tokens to get exchanged. Smart contracts are conditions written into the coding that execute different aspects of a transaction between parties.
What is a Web 3.0 application?
Web 3.0 was coined after the launch of Ethereum in 2014. The co-founder of Ethereum, Gavin Wood, put forward a solution for a safer web experience for the user by giving them the control the older version lacked. Web 1.0 is read-only, Web 2.0 is read and write & Web 3.0 is read, write and own. Web 3.0 uses NFTs, cryptocurrencies, and blockchains, giving the user back ownership.
Core Features of Web 3.0:
Decentralized:
With Web 3.0, the internet is controlled and owned by builders and users instead of centralized entities.
Permissionless:
No one is excluded from it everyone can use it and can participate in Web 3.0
Native Payments:
It uses cryptocurrencies, so the user doesn’t have to rely on banks or third parties for transactions.
No third parties:
With incentives and economic mechanisms, there is no dependency on third-party apps.
Obstacles
- When creating a token, we had to ensure it was safely and securely created
- We had to research and study liquidity and auto-compounding protocols
- Frontend needed to be designed in a way that was highly user-friendly even for non-technical users
- Few developers had considerable knowledge of Web3 app development, especially Decentralized Finance (DeFi) apps.
What is an ERC20 token?
"ERC20" refers to a scripting standard used within the Ethereum blockchain. A fungible token is any token that can be interchangeable with any other token. Tokens, in this regard, are any assets, rights, ownership, or anything that isn’t unique and can be transferred. With the help of ERC-20, different smart-contract enabled tokens to get exchanged. Smart contracts are conditions written into the coding that execute different aspects of a transaction between parties.
What is a Web 3.0 application?
Web 3.0 was coined after the launch of Ethereum in 2014. The co-founder of Ethereum, Gavin Wood, put forward a solution for a safer web experience for the user by giving them the control the older version lacked. Web 1.0 is read-only, Web 2.0 is read and write & Web 3.0 is read, write and own. Web 3.0 uses NFTs, cryptocurrencies, and blockchains, giving the user back ownership.
Core Features of Web 3.0:
Decentralized:
With Web 3.0, the internet is controlled and owned by builders and users instead of centralized entities.
Permissionless:
No one is excluded from it everyone can use it and can participate in Web 3.0
Native Payments:
It uses cryptocurrencies, so the user doesn’t have to rely on banks or third parties for transactions.
No third parties:
With incentives and economic mechanisms, there is no dependency on third-party apps.
Obstacles
- When creating a token, we had to ensure it was safely and securely created
- We had to research and study liquidity and auto-compounding protocols
- Frontend needed to be designed in a way that was highly user-friendly even for non-technical users
- Few developers had considerable knowledge of Web3 app development, especially Decentralized Finance (DeFi) apps.
No items found.
What is an ERC20 token?
"ERC20" refers to a scripting standard used within the Ethereum blockchain. A fungible token is any token that can be interchangeable with any other token. Tokens, in this regard, are any assets, rights, ownership, or anything that isn’t unique and can be transferred. With the help of ERC-20, different smart-contract enabled tokens to get exchanged. Smart contracts are conditions written into the coding that execute different aspects of a transaction between parties.
What is a Web 3.0 application?
Web 3.0 was coined after the launch of Ethereum in 2014. The co-founder of Ethereum, Gavin Wood, put forward a solution for a safer web experience for the user by giving them the control the older version lacked. Web 1.0 is read-only, Web 2.0 is read and write & Web 3.0 is read, write and own. Web 3.0 uses NFTs, cryptocurrencies, and blockchains, giving the user back ownership.
Core Features of Web 3.0:
Decentralized:
With Web 3.0, the internet is controlled and owned by builders and users instead of centralized entities.
Permissionless:
No one is excluded from it everyone can use it and can participate in Web 3.0
Native Payments:
It uses cryptocurrencies, so the user doesn’t have to rely on banks or third parties for transactions.
No third parties:
With incentives and economic mechanisms, there is no dependency on third-party apps.
Obstacles
- When creating a token, we had to ensure it was safely and securely created
- We had to research and study liquidity and auto-compounding protocols
- Frontend needed to be designed in a way that was highly user-friendly even for non-technical users
- Few developers had considerable knowledge of Web3 app development, especially Decentralized Finance (DeFi) apps.
Key Points
With Contrax, users could create tokens and liquidity pools and leverage auto-compounding farms on the Arbitrum blockchain. The key features of Contrax included:
Token Creator allowed non-technical users to create their ERC-20 token on top of Ethereum and Arbitrum blockchains.
Token Manager allows Token Creators to view the details of their newly minted tokens and transfer/distribute them to new owners. It also allowed Token Creators to execute features like Burn Tokens or Change Supply etc.
Liquidity Pool Creator allowed Token Creators to deploy liquidity pools for their tokens via SushiSwap (We tried working with Uniswap v3 to implement this functionality, but the blocker was that Uniswap v3 SDK did not have full support for Arbitrum at that time)
Farming Section allowed Liquidity Pool Reward holders to compound their LP Token Rewards by staking and farming into select Auto-compounding farms.
Frontend styled components were used for customized content and boxes to give users the most accessible and convenient features and tools to create tokens, liquidity pools, and auto-compounding farm lists. Web-vital for the website was used for performance-based values on memory consumption. We developed the initial designs for Contrax, which after sufficient modifications to fit the best UX principles, were implemented by our dev team. Furthermore, for customized bar charts, etc., we used Google charts which has a pretty neat gallery of interactive charts.
Key Outcomes
- User-friendly Liquidity Pools Creation via sushi swap
- Auto-compounding vaults for high-yield farming
- User-Friendly ERC 20 Token Creation
- Support for Etherium(L1) and Arbitrum(L2) blockchains
Weologix
“Their level of commitment and willingness to form a genuine partnership with us went above and beyond”
We helped the co-founders plan, design, develop, and pivot a talent evaluation platform with an interactive dashboard for HRDs. As the company's "core product team," we created its flagship SaaS offering and maintained its DevOps infrastructure. To meet the needs of our diverse customer base, which includes bootstrapped startups and Fortune 500 conglomerates, we've created a comprehensive product line.
Read more
Monica Chitnis
CEO at Weologix
5.0
Scheduling
On time / Deadlines
5.0
Cost
Value / Within Estimates
5.0
Quality
Service & Deliverables
5.0
NPS
Wiling to refer
Client Testimonials
Contrax
“Simply Impressive Results”
“Deltacron was able to provide service normally out of the affordable [price] range. The team was communicative and willing to take responsibility for any issues that came up during development. We expect to work with them in the future"
Read more
KJ Magill
Co-founder at Contrax
5.0
Scheduling
On time / Deadlines
5.0
Cost
Value / Within Estimates
5.0
Quality
Service & Deliverables
5.0
NPS
Wiling to refer
