In the present times, Solana Blockchain has been getting significant attention due to its fast transaction speed and low costs. The Blockchain is innovating and has introduced the new and trending Jito Solana Blockchain that leverages Maximum Extractable Value(MEV) to incentivize liquid stakes. It has become a sought-after choice for individuals seeking ways to generate passive income. Scroll down the article to explore the steps to DeFi wallet development on the Jito chain, but before that, let us learn the significance of developing a DeFi wallet on the Jito Solana Blockchain :
The rising demand for SOL has led to a surge in demand for DeFi wallets. They are secure digital vaults used to hold and transfer Jito tokens securely. Furthermore, the platform allows you to access the full potential of Jito protocol and liquid staking features. This enables SOL staking, obtaining Jito SOL tokens, and participating in DeFi protocols. It is an advanced solution that can be developed with the guidance of a reliable DeFi wallet development team.
We have divided the DeFi wallet development process into steps to simplify it. By performing these steps, you will get a secure and reliable solution. Let us explore these steps in detail:
# Step 1: Define the Use Case
Commence by defining the use case, which will serve as a foundation for DeFi wallet development. It is essential to determine the fundamental aspects through market research and domain experience. Addressing some pain points can give you an edge.
# Step 2 : Decide the Feature Range
After defining the use case, it’s time to identify the features you wish to have in the app. Focus on brand themes, user interfaces, functionality, native tokens and target audience. Before commencing, it is essential to have a thorough understanding of the business and document.
#Step 3 : Perform UI/UX Development
Design the necessary UI/UX interfaces to enrich the user experience. Forming a crude version helps market experts test the solution’s appropriateness before a full flow. The design is shared with the client and moves to the next stage, development.
# Step 4 : Integrate Security Elements
Security elements are integrated to help platform users have a safe experience. Technologies related to web protection, user access, and transaction processes are included to mitigate unauthorized access, making the platform secure.
# Step 5 : Test & Deploy
Test the application against various test cases to identify and eliminate possible concerns. After testing, the platform is deployed so that the audience can use it.
#Step 6 : Promote & Gain Reach
Before launching the application, it is vital to promote it intensively. Use different tactics, like community building, to boost its online presence and create a buzz around the platform. You can even hire dedicated marketing specialists for this work.
# Step 7 : Launch & Maintain
Finally, the application will be launched for public use. It will offer top-notch customer support with educational resources. The application can also be upgraded from time to time to boost its competence and relevance in the future.
Developing a Jito DeFi wallet on Solana offers several compelling benefits covered in detail below:
1. Liquid Staking
The platform allows users to stake SOL tokens and acquire Jito SOL tokens, which offer lucrative investment returns.
2. Composability in DeFi
The tokens can be used across several DeFi proctors helping you expand your investments and earn returns like never before.
3. MEV Rewards
Validators can earn rewards from transaction arbitrage, reordering, and other tactics, which are divided among the holders offering passive income streams.
4. Access Liquidity
The tokens can be used as collateral or can be used for trading on DeFi platforms.
5. Boosts Community Engagement
The token enables community members to participate in the decision-making process for the liquid staking protocol.
6. Improves Staking Process
It’s a permissionless pool that allows users to stake their tokens without navigating complicated staking architectures.
7. Scalable & Secure
The high transaction speeds and low costs make it a suitable platform for building scalable and secure applications.
DeFi wallet built on Jito Solana Blockchain comprises world-class features and functionalities highlighted below:
1. Native Swaps : The wallet is integrated with in-built swap functionality to enable a swift swapping process, bypassing the need for external exchanges.
2. Native Staking : The platform offers native staking options for SOL, allowing users to earn passive revenue streams.
3. Real-Time Updates : Get information about the coin prices as charts or graphs via real-time update functionality.
4. DApp Connectivity : You can connect the wallet with dApps to extend the wallet capabilities beyond simple transactions.
5. Multi-Chain Access : Apart from Jito Solana Blockchain, the platform fosters seamless interactions with other Blockchains.
6. Prepaid Cards : Prepaid cards, which are similar to credit or debit cards, allow users to buy cryptos and earn rewards, boosting customer loyalty.
7. Payment Gateway : The platforms support payment gateways to facilitate instant deposits and fund withdrawals through multiple payment methods.
One of the critical components of DeFi wallet development is the cost. It is influenced by numerous factors, such as team composition and location, the timeframe, features, and technologies involved. Also, the post-deployment support adds to the wallet cost. Share your requirements to get an exact wallet development estimate.
Antier the leading DeFi Development Company provides diverse Jito Blockchain-supported DeFi wallets to global businesses. We tailor customizable solutions(scratch or ready-made) that offer unrivaled performance according to business needs and market demand.
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