ADA Finance — Development Blog

Building the first DeFi ecosystem on the Cardano blockchain requires technical innovation and expertise. In order to reach the ambitious goals we have set for ourselves, ADA Finance has assembled a capable team of developers with an unparalleled range of skills. In this first dev update, we introduce our community to how the work is being organized amongst our team members, where we are, and where we aim to be soon.

Team 1 — Haskell
The first team (Haskell) is focused on the development of the Cardano smart contract and the capabilities required to provide all the services described in our whitepaper. This team currently has 5 developers and, as expected, they are proficient in Haskell.

Our first goal is to make sure from the get-go, ADA Finance hits the road running, so our investors and community can benefit from the essential functionalities of the ecosystem. With that mission in mind, we started by implementing the staking smart contract according to the whitepaper. The original implementation has now been simplified in order to make the operation easier and more secure. Currently, the team is refactoring the solution, working on the off-chain tests.

We’re almost finished with staking SC and preparing the code to be published in a public repository on our Github. ADA Finance would take the lead in the Cardano Ecosystem as the first project revealing their smart contract code. The next step is to implement the swap contracts.

Team 2 — Avalanche
Given the extended-release schedule of the Plutus Application Backend (PAB), we’ve run a poll in our community, where 66% of the users voted to start development, in parallel with our Haskell development team, on a second blockchain. In the short term, this strategy warrants that further unexpected delays in Cardano functionalities will have minimal effect on our timeline, while in the long term it allows users to operate the ADAFi Ecosystem on both networks, protecting our users from congested networks.

As CEO, I feel responsible to mitigate the risks of a new ecosystem. As much as we like and support Cardano, we are not to forget that it is new to open up their ecosystem, and network congestions don’t go hand in hand with DeFi.
People seem to expect a fetus (Cardano) to run a marathon (DeFi). We are aware of these risks and have performed due diligence on an alternative. The Avalanche blockchain has an impressive documentation available and seems to be the #1 blockchain for Financial dApp developments.
Christof Waton, Founder & CEO ADA Finance

The second team’s aim is to deliver the ADAFi Ecosystem on the Avalanche blockchain and support the development of the token bridge between Cardano and Avalanche. To achieve this, we recruited a developer with proven experience in coding for cross-platform crypto projects.

Team 3 — Silky Smooth
The third team is geared towards the development of the frontend and user interface (Frontend UI&UX). We want to have an interface that feels slick and modern but this can’t happen at the expense of a positive experience for our users. To make sure we strike the right balance, we have the third team with 3 developers working on the front end and focusing on pleasant anesthetic added to intuitive functionality.

Team 4 — Testing and Infrastructure
The fourth, and last, team’s goal is to deploy and maintain the infrastructure for nodes and the platform. Developers can now fully use our private cloud environment for various deployment scenarios and continuous integration, testing the code on every step. This is paramount for allowing tests and validations to be performed smoothly and quickly and keeps the turnover time between implementation and testing short.

In summary, we currently have 11 engaged developers, excl contractors, divided into 4 teams working full-time to deliver the ADA Finance platform. Our technical roadmap is currently undergoing changes as we hire more people and address the needs of the project. We’re continuously looking for team members to join our team. Open job positions can be found on the bottom of the website or by clicking Here

That’s it for our development blog kick-off, the next update is to be expected on Friday, 12th November!

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