A decentralized web application for people to create crypto tokens, liquidity pools, and auto-compounding farms on the Ethereum & Arbitrum blockchains.
A decentralized web application for people to create crypto tokens, liquidity pools, and auto-compounding farms on the Ethereum & Arbitrum blockchains. The reason behind creating Contrax was to provide a platform for non-technical users to create tokens, liquidity pools, and auto-compounding farms without any complicated process.
5+
Smart Contracts Written
20K+
Angel Investment Raised
2+
Blockchains Supported
A user-friendly platform incorporates a token creation mechanism where potential users create ERC20 tokens. They wanted to equip the user with the ability to control the supply and implement features such as liquidity pool and auto compounding. Their goal was to get a platform to lower the barrier of entry to DeFi.
"ERC20" refers to a scripting standard used within the Ethereum blockchain. A fungible token is any token that can be interchangeable with any other token. Tokens, in this regard, are any assets, rights, ownership, or anything that isn’t unique and can be transferred. With the help of ERC-20, different smart-contract enabled tokens to get exchanged. Smart contracts are conditions written into the coding that execute different aspects of a transaction between parties.
Web 3.0 was coined after the launch of Ethereum in 2014. The co-founder of Ethereum, Gavin Wood, put forward a solution for a safer web experience for the user by giving them the control the older version lacked. Web 1.0 is read-only, Web 2.0 is read and write & Web 3.0 is read, write and own. Web 3.0 uses NFTs, cryptocurrencies, and blockchains, giving the user back ownership.
With Web 3.0, the internet is controlled and owned by builders and users instead of centralized entities.
No one is excluded from it everyone can use it and can participate in Web 3.0
It uses cryptocurrencies, so the user doesn’t have to rely on banks or third parties for transactions.
With incentives and economic mechanisms, there is no dependency on third-party apps.
With Contrax, users could create tokens and liquidity pools and leverage auto-compounding farms on the Arbitrum blockchain. The key features of Contrax included:
Token Creator allowed non-technical users to create their ERC-20 token on top of Ethereum and Arbitrum blockchains.
Token Manager allows Token Creators to view the details of their newly minted tokens and transfer/distribute them to new owners. It also allowed Token Creators to execute features like Burn Tokens or Change Supply etc.
Liquidity Pool Creator allowed Token Creators to deploy liquidity pools for their tokens via SushiSwap (We tried working with Uniswap v3 to implement this functionality, but the blocker was that Uniswap v3 SDK did not have full support for Arbitrum at that time)
Farming Section allowed Liquidity Pool Reward holders to compound their LP Token Rewards by staking and farming into select Auto-compounding farms.
Frontend styled components were used for customized content and boxes to give users the most accessible and convenient features and tools to create tokens, liquidity pools, and auto-compounding farm lists. Web-vital for the website was used for performance-based values on memory consumption. We developed the initial designs for Contrax, which after sufficient modifications to fit the best UX principles, were implemented by our dev team. Furthermore, for customized bar charts, etc., we used Google charts which has a pretty neat gallery of interactive charts.
Contrax
“Deltacron was able to provide service normally out of the affordable [price] range. The team was communicative and willing to take responsibility for any issues that came up during development. We expect to work with them in the future"
KJ Magill
Co-founder at Contrax
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