Propel as a World class DeFi-as-a-Service Network

5 min readFeb 10, 2022

Introduction

As the blockchain space keeps expanding and new blockchain technology concepts are being created, NFT, DeFi and Metaverse has been the leading trends in these wave of innovation. The evolution of blockchain technology has resulted in these pioneering concepts.

These are further enabled by the Web3.0 revolution that envisions a decentralized, data-driven ubiquitous internet that operates on intelligent algorithms.

Introducing DeFi-as-a-Service

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.

With these tools and modules, DeFi projects and applications can readily adopt and implement this ready-made solutions which will help in massive reduction in development time and 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 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 DeFi services offered by Propel includes :

Investor Dashboard; Propel Investor Dashboard allows project owners and investors to manage their tokens. With 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 is a key component in blockchain startup as it prevents market manipulation,ensures stability, Viability and long-term value of a project’s token for a foreseeable future. Vesting Contracts are versatile smart contract modules on Propel that let projects design automated vesting schedules according to their needs. Vesting Contracts are commonly used in the fundraising process to ensure that tokens purchased early on are progressively unlocked. Also, it preserves a token’s value by preventing token holders from selling their tokens at once following the listing of a crypto project’s token which can cause the market price to rise quickly. Projects can utilize Propel’s Vesting module to create unique smart contracts for use cases, like team vesting, Seed/Private vesting, Team vesting, and more, depending on their fundraising structure and tokenomic model. This vesting Contracts can be customised and readily used by various applications
Multisig Wallet; Propel is offering a multisig wallet with multi-signature functionality at its core to enable projects to create and offer the necessary infrastructure for users to hold, receive and send tokens. Propel’s multisig wallets provides advance logic execution, enhanced security and allow for trustless ess escrow transactions. 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; With the development of the DeFi industry, cross-chain bridges have become very vital as it offers the capability of interoperability of blockchain applications to support project owners, Investors and across different blockchain protocols or across multiple Blockchains supported ecosystems . The 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; Staking is a basic concept on any DeFi project, which is the lending of cryptocurrencies to be used as collateral by proof-of-stake (PoS) blockchains to make certain earnings as interest or gaining new crypto tokens (yield farming) as rewards. By Users holding tokens, DeFi projects can be rest assured of secured liquidity and a total regulation of token supply. Staking contracts are responsible for monitoring the staking program and issuing rewards to the participants. With this plug-and-play staking contracts module offered by Propel, projects can create custom staking contracts with desired reward pay-outs, pay-out frequency, and other parameters.
Yield Farming/LP Staking; Yield Farming/LP Staking are alternative form of staking your token(crypto assets) to earn additional/stellar incentives. Propel’s Yield Farming /LP Staking contracts are designed for quick customization and rapid deployment. With this, users can deploy the LP Staking Contract on AMMs like Uniswap, PancakeSwap etc
Lottery Contracts; It’s quite fascinating that the blockchain technology is fully adopted in gaming industry and some of this gaming industries is found in DeFi Apps. Propel is also offering Lottery smart contracts and decentralized random number generators (using Chainlink VRF) which 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 at intervals. This unique mechanism will also enable projects to guard against incursion or sudden influx of tokens into the market.

Propel's Anti-Dumpster modules used by projects will help prevent any dumping of tokens from early investors and sudden price drop in the token market.

NFT Minter and Token Creation

NFTs have become a hot topic of discussion in Crypto. Propel NFT Minter allows user to mint their own NFTs using popular standards like ERC721, ERC1155, and ERC3712. In addition to this, it 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

Despite having its smart contracts audited by First-class blockchain security firms, Propel is offering reputed smart contracts auditing services to other projects.

An Overview of Propel

Propel holds the distinction of being the only provider offering DeFi-as-a-Service (DaaS), Metaverse-as-a-Service (MaaS) and Staking-as-a-Service (SaaS) solutions under a single portfolio.

Propel stands as the first ever blockchain infrastructure solution 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 functionalities.

For more info. and latest updates about propel, Visit the following channels;

Website: propel.xyz/

Twitter : twitter.com/propelxyz

Telegram chat: t.me/propelchat

Medium: medium.com/@propelxyzhttps://medium.com/Propel

Telegram announcement channel: t.me/Propel ant