Innovative DeFi platform for cross-chain conversions of digital assets

Unicsofts creates the vision and sets the scope of work for the blockchain ecosystem comprising a web application for decentralized transactions and a blockchain network based on Proof-of-Stake consensus mechanism.
About the project
The client turned to Unicsoft with an idea of creating a wallet anyone can use for all of their crypto assets. That had to be a super user-friendly app having a bunch of features for any purpose: purchasing crypto from fiat currency, trading altcoins, even holding NFTs - all in one mobile wallet.
Business challenges
  • Cryptocurrencies have an isolated existence: they either have their own separate blockchain ecosystem or run off of other larger ones such as Ethereum or Binance Smart Chain. As a result, one token cannot interact with another if they exist in different ecosystems.
  • Using existing solutions is often accompanied with higher transactional costs, as well as custom development of a decentralized application or blockchain network can also be expensive and time-consuming.
  • Businesses that already run their applications on Ethereum struggle with high fees and a low TPS (transactions per second) rate. They need a cheaper and faster alternative to optimize their operations.
The solution
Product Vision
The Unicsoft team created a product concept of a web-based application that would act as a platform for the decentralized cross-chain conversion of digital assets. Another key component of the solution will be a blockchain network, based on the Proof-of-Stake consensus mechanism for creating customized blockchains and deploying smart contracts with low fees and high throughput.
Platform Features
Unicsoft defined the major features of the platform:
Cross-chain swapping
Web application that allows for swapping tokens between networks from the custom platform’s web interface.
PoS blockchain network
The solution forked from the Fantom blockchain network will allow for staking and natively building swap bridges between multiple blockchains.
Governance token
The network will be governed by the native token providing the ecosystem for creating swap liquidity pools.
Wallet application
Mobile app for storing all supported tokens and accessing DeFi features provided by the network, including swaps and staking.
EVM compatible Solidity dApps
Full support of Ethereum-based smart contracts written in Solidity to allow for dApp development and the transition of users from Ethereum to the developed blockchain.
Blockchain explorer
Web application integrated with the native network that allows for tracking and searching for transactions on the ledger.
In later versions, Unicsoft plans to introduce enterprise solutions for managing, tracking, and securing private data such as healthcare data/patient data, data for private sector industries, government agencies, etc.
Scope of work
For the project, Unicsoft was tasked with developing the vision and scope of work, wireframes, software requirements specification, time and cost estimates for development, and UX samples.
The discovery phase took us two months to complete and present materials.
Solution benefits
Thanks to the persistent work of Unicsoft specialists and our deep understanding of the client’s requirements and market challenges, the client got a vision of their platform that provides a wide range of blockchain and DeFi opportunities.
The cross-chain swap solution solves the problem of converting tokens between different blockchains, which can be complicated for the general user.
By implementing innovative blockchain architecture, the native blockchain network allows for the economic, straightforward, and faster creation of custom blockchains with low-cost transaction costs for businesses that need them.
The developed blockchain provides a smoother and more efficient transition from Ethereum.
The users will be able to swap tokens between different blockchains and earn profits from staking, as well as to create fully-functional dApps written in Solidity.
By building initially a fork to the Fantom Network, the team will deliver faster time to market, more robust technology, and feature-rich solutions.