Flowty - peer-to-peer (P2P) collateralized NFT lending marketplace
Web3 - Web application development
- Time to Release
- 30 days
- Improved Development Time
- Bug Fixes & Architecture Revamps
Flowty is a peer-to-peer (P2P) collateralized NFT lending marketplace. It enables borrowers who own NFTs on their platform to take out a loan against their own asset. It also allows lenders to generate interest by funding those secured loans.
Flowty approached K-Optional Software prior to their public release. They had been contracting with an off-shore team for about a year, and at this point were urgently trying to bring their product to market because without a positive cash flow, they were dead in the water.
Flowty’s CTO recommended K-Optional to assess the frontend codebase. Subsequently, Flowty hired K-Optional as an embedded team working under the Flowty logo. Our first assignment was the stable release of the product.
We documented a concerning amount of technical debt, especially pertaining to database design and component architecture. Releasing v1 would require a delicate balance between exterminating bugs and adding new features iteratively. We submitted our assessment and mobilized resources to bring Flowty to the mainstream within 30 days.
- Our immediate task was to collaborate with the client to build a prioritized feature list. We would only touch code pertaining to these features to maximize development velocity.
- We excised all critical technical debt, including security vulnerabilities and n+1 queries.
- We developed a style-guide to which all new features would conform. We also earmarked legacy code refactoring for the near future so we could focus on the most important tasks at hand.
- We implemented a DevOps pipeline, including a quality assurance (QA) process, so that all builds would receive appropriate scrutiny.
Flowty released their product within one month of contracting K-Optional Software without incident. For context, they had worked with the previous firm for about 12 months, and were still unable to launch due to buggy code and incomplete tasks.
Furthermore, K-Optional proved more economical in terms of monthly dollar costs, with the additional benefit of drastic output improvement. In light of this success, the client hired K-Optional as a full-time advisor. Within three months of our tenure, less than 5% of the original codebase remained. Development velocity is at an all-time high.