In August 2020, Jordan Lyall developed an automated DeFi (Decentralized Finance) contract creator called “The Degenerator”. That nifty little tool gave anyone with access to the internet the ability to create a DeFi smart contract. You could choose the governance, staking and rebase mechanisms and deploy the contract in as little as five minutes.
While it was intended as a prank to make fun of the various copycat DeFi projects deployed into the market, it did illustrate the many obstacles facing the crypto ecosystem and its growth towards mass adoption. But for the founders of DeFi Wizard, one problem stood out prominently.
“Building projects on the blockchain is just too difficult.”
Problems are currently plaguing Crypto Ecosystem.
The broader world is rapidly adopting digital assets, and the trend of moving traditional assets onto blockchain has skyrocketed over the last year. Gone are the days when blockchain only referred to bitcoin hash rates and miners solving cryptographic codes. Instead, there is a whole new universe now populated by DeFi, Liquidity Pools, Staking, Security Tokens, Personal Tokens, etc. Even PayPal and big banks on wall street have jumped into the fray, signalling that every business needs to have a crypto strategy.
However, despite the rapid advances on the tech side, every crypto entrepreneur and enthusiast complains about the same thing- “there is just too much recurring work involved in creating a crypto project”. For instance, one of the key factors impeding the growth of crypto projects is the need to work with Audit firms “to get the audit for already audited code.”
If someone had a revolutionary idea that requires blockchain and a crypto ecosystem, they would be forced to go through endless hoops to develop the smart contract and launch the project. Even the simplest of tasks to create a token would involve
- Branding and token development
- Smart contract development
- Creation of vesting contract
- Contract and Token Auditing
- Legal compliance
- Liquidity provision
- Market maker partnerships
- Listing of the tokens and Marketing
Now, if the project should involve more smart contracts such as staking contracts, liquidity mining contracts, etc., you would have to repeat the whole process. So not only is it all wholly redundant but a massive barrier for most well-heeled entrepreneurs.
However, the idea put forth by Jordan and his degenerator held immense potential. It could solve all the issues mentioned above; if it was taken more seriously and developed by a team of blockchain specialists—this seed of an idea germinated into the game-changing crypto solution known as DeFi Wizard.
How does DeFi Wizard solve this problem?
DeFi wizard is a dashboard for building DeFi (decentralized finance) smart contracts with a few clicks. It offers real-time programmer analytics and allows you to create ERC20 / BEP20 / EDST smart contracts. Additionally, you could build staking and yield farming contracts, governance mechanisms, cross-chain bridges, gasless relayers and more with a click of a button.
In short, DeFi Wizard makes “Multi-chain DeFi Legos” simple.
What makes DeFi Wizard special?
DeFi Wizard simplifies the process of Token creation and many of the common DeFi Legos through the One Step wizard. It could turn out to be an integral part for crypto projects and the ecosystem in general because, with just one click, you could create:
- Configurable audited ERC20 / BEP20 / EDST token
- Staking smart contracts
- Yield farming contract for LP tokens
- ERC20 to BEP20 bridge for ERC20 tokens
- CSV import to Create Token Vesting Contract, and much more