More businesses want to expand into on-chain commerce, but it can be difficult to break into the rapidly evolving DeFi space without advanced blockchain knowledge. Now, Web2’s self-serve website creation model is being emulated in the world of Web3 with platforms like HollaEx, a white-label exchange and open-source crypto kit that connects businesses to blockchain and the entire DeFi space.
“Because DeFi is moving so fast, it’s difficult for newcomers to navigate, and that’s especially true for businesses,” Adrian Pollard, HollaEx’s CPO and core contributor, told Chainlink Today.
He said HollaEx’s five-step crypto setup process covers the fundamentals for businesses that are just starting out in DeFi, by streamlining the process of creating their own tokens and exchanges – no coding knowledge required.
“Effectively, a business can operate their own branded crypto platform in the form of an exchange,” Pollard explained.
In November, HollaEx was among 82 new projects to integrate Chainlink’s industry- leading oracle solution, now securing over $82 billion in smart contracts. Built-in support for Chainlink Price Feeds on HollaEx will allow developers to offer improved user experience with transparent, reliable, real-time market data.
“Pricing is tricky,” Pollard said. “Most take it for granted, but as soon as a business integrates cryptocurrency into their business model, they very quickly learn just how hard ‘discovery price’ can be.”
In his perspective, sourcing from Chainlink’s decentralized price feeds presents “endless possibilities.”
“Chainlink is a very smart way to guarantee pricing for established digital assets; it can also be used to help price new assets,” he said.
Pollard views DeFi’s monumental growth over the past year as simply the beginning of society’s shift toward decentralization. “The powerful tools that can be accessed – not only from Chainlink, but the wider DeFi ecosystem – have only just started,” he said.
Ultimately, he predicts HollaEx’s integration of Chainlink’s decentralized oracles will inspire more businesses to adopt centralized software solutions powered by decentralized technologies. “Mixing the speed and ease-of-use that a centralized platform provides with incorruptible data streams is so powerful,” he said.