A Handy Crypto Wallet

A Gateway to Effortless Asset Management

Custody Wallet
Exchange
WebSocket
PostgreSQL
NextJS
Express
React
Web3
NodeJS
Android
Kotlin

Overview

Brief description

The project is based on the development of a well-designed hybrid platform that integrates the features of a crypto-currency custody wallet and an exchange.

Mission and Objectives

The client set forth a challenge for us to design the functionality of the platform through the development of a system of financial instruments, thereby providing users with seamless crypto trading.

Client Overview

This project was developed for a EU-regulated entity. Due to a Non-Disclosure Agreement (NDA), detailed information about the client cannot be disclosed.

Project Team

1 BA
1 UI/UX
2 Backend Developers
1 Full-Stack Engineer
1 Team Lead

Challenges

What we had to solve

We were tasked with developing an advanced hybrid exchange that addresses the modern challenges of the cryptocurrency market while adhering to all security and regulatory requirements. This endeavor proved to be quite challenging.

01
First and foremost, we needed to minimize manual data collection and verification in the KYC process in order to reduce human errors and allow for enjoyable user experience.
02
Another challenge we encountered was the need to mitigate liquidity risks. During the discovery phase, we concluded that the Staking Module could potentially address this issue.
03
We also decided to implement algorithmic trading tools to enhance user convenience and ensure modern features for investments without manual intervention.
04
Moreover, we recognized the importance of incorporating advanced analytics tools to improve users' decision-making processes.
05
After considering all the challenges mentioned above, we came up with effective solutions and began working to turn them into reality.
06
We set out to design a system of financial tools that can work together as a coordinated unit, where each element supports the others, ensuring a high level of convenience for users.

Solution

Custodial Wallet

To enhance convenience we have added custodial wallets that are really advantageous for users who want to entrust the management of their assets to a trusted third party (custody provider). That is definitely a suitable choice for both novices seeking simplicity and support, and more experienced traders.

Auto-investments

In order to provide traders with the opportunity to invest consistently, without the need for manual intervention, we have proposed an automated investment module. We have based this module on DCA and rebalancing bots, which significantly reduces the need for constant market monitoring and minimizes their risks.

Staking

Being one of the basic instruments for liquidity management, staking provides replenishment of liquidity pools using user assets. Thus, users benefit through earning rewards while still helping to maintain market liquidity, speed and convenience, crucial for efficient trading on the platform.

KYC

As it is known an advanced KYC system is essential for all crypto exchange platforms. A reliable identity verification system that we have suggested is designed to ensure maximum security for the platform.

Analytics

The implementation of this tool which involves the collection and analysis of data related to trading activities, and market trends was essential to provide all the necessary insights for users.

Mobile Application

The creation of a mobile app was a logical step within the context of this project. Thereby the platform has gained significant benefits in terms of expanding its customer base, enhancing user loyalty and increasing engagement.

Transactional Messaging

By working with marketing experts, we have developed a notification system that allows users to receive updates about new investment opportunities that meet their criteria.

Development process

01
Discovery Phase
Our team collaborated closely with the client's team to review the project requirements and specifications. According to the review, we began exploring the needs and experiences of end-users of similar systems.
02
Design Phase
Our software engineers and design specialists collaborated to draft software architecture documents, create database layouts, and design the user interfaces for the platform. Their aim was to craft a scalable and secure infrastructure capable of supporting expanding data and user growth.
03
Development
Sidekick’s developers initiated the construction of the application architecture, focusing on robust testing methods to maintain code quality. They crafted features for both backend and frontend systems. The team also enhanced the infrastructure by incorporating CI/CD pipelines to facilitate seamless development and deployment. Additionally they implemented systems for issue monitoring (such as Sentry), logging and monitoring (e.g., Datadog, New Relic), and transactional messaging. Furthermore, they set up analytics tracking tools, integrated marketing platforms, and applied such tools as SonarQube and CodeClimate for code quality analysis.
04
Launch and Post-launch assistance
Our engineers completed the final rounds of exhaustive testing and resolved the remaining issues. Then they turned to project deployment in the production environment and its go-live. They ensured that real-time support was available to swiftly address any post-launch challenges, keeping in close contact with the client and their team throughout.

Project results

Outcomes for the customer and end-users

01
Project Outcomes and Achievements
We have managed to develop a secure and easy-to-use platform for storing and managing crypto assets. It should be noted that the range of financial instruments we have introduced functions like a well-oiled machine: the modules reinforce each other's capabilities, thereby providing customers with a seamless experience and taking their financial performance to the next level.
02
User-Friendly Mobile App
The well-designed and intuitive mobile app has reached a wider audience of traders who prefer managing their digital assets while on the go. In combination with the transactional notification system, we have managed to achieve a high level of personalization, which has certainly had a positive impact on the overall level of customer satisfaction.

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