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Even for seasoned crypto enthusiasts, DeFi can seem overwhelming. The sheer number of options seem to be growing by the hour. Some platforms have worked hard to make their user experience (UX) simple, but other more experimental platforms are only accessible to the most daring of savers and investors. To make things even more daunting, maximizing DeFi income can be a full-time job in and of itself due to the constantly shifting landscape of offers, opportunities, and risks.
This is why the creators of Stake DAO, a non-custodial DeFi platform built on Ethereum, decided to launch their service in early 2021. Stake DAO aims to make DeFi services accessible to everyone bringing the best of decentralized finance under one roof. To ensure the service is stable, secure, and fast, the Stake DAO team embarked on a partnership with Alchemy, unlocking an array of developer tools, scalable infrastructure, and industry leading reliability.
Arguably one of the hottest and most in-demand features of DeFi is earning interest or staking rewards on idle assets. But to get the best offers (which are often fairly short term and require active management), an investor has to constantly scour dozens of sites and dig through countless offers, wasting time and effort. Stake DAO allows users to quickly filter through interest-earning and staking opportunities from multiple sources at once and with only one account. When users find an opportunity that meets their needs, they can take advantage of it without needing to leave the Stake DAO environment.
“We’re really excited to work with Stake DAO as they aim to make DeFi accessible to everyone. The team is extremely talented and their innovation of putting together an easy-to-use platform that allows users to access multiple staking opportunities in one place is brilliant!” - Elan Halpern, Co-Founder of Alchemy Amplify.
Users can even buy, sell, and trade or exchange digital assets within Stake DAO. This type of service unification is something quite new to the world of DeFi. It's a design methodology that can expose users to earning and borrowing opportunities they may have never considered due to the difficulty of finding them and learning how they work. This powerhouse platform was made possible thanks to the Stake DAO-Alchemy partnership.
Creating robust applications for Ethereum is a lot more than just writing good code. What's equally important is having the right tools, support, and resources to power that code. Stake DAO chose Alchemy to offer their users a world-class experience and to power the systems that make Stake DAO possible. When asked why they decided to team up with Alchemy and what benefits they get from the partnership, Stake DAO said:
"We are utilizing Alchemy as our node provider for incredible speed and reliability on Ethereum. This makes the core of our stack nothing short of bulletproof, even during high traffic. It's a massive difference. Our developers have been especially impressed by longer live connections to local ganache mainnet-fork in comparison to other providers.” - Jonnie, Stake DAO Contributor
As Stake DAO continues to bring their product to thousands of users, Alchemy is proud to support their product and team by bringing them the best-in-class Ethereum & Blockchain development platform that meets their every needs, from developer tools to scalable infrastructure.
Stake DAO aims to be a one-stop shop for supercharging your crypto. Instead of finding and learning how countless DeFi providers and their often not-so-user-friendly sites work, users can get access to interest earning, borrowing, trading, and even buying and selling with credit cards and bank accounts, all in one place. Stake DAO's developers have even managed to include non-fungible token (NFT) trading into the platform.
To further reach out to those new to cryptocurrency, the Stake DAO website offers a completely free and open tutorial series on a wide and growing array of topics. The series called Stake DAO Academy covers topics as basic as “What Are Cryptocurrencies?” all the way through advanced topics covering slippage, yield farming, layer 2 solutions, and even synthetic assets. Articles are quick and to the point and should be accessible for even the most time-strapped reader. In addition, all Academy articles are available in both English and French.
Alchemy provides the leading blockchain development platform powering millions of users for 99% of countries worldwide. Our mission is to provide developers with the fundamental building blocks they need to create the future of technology and lower the barrier to entry for developers to build blockchain applications. Alchemy currently powers 70% of the top Ethereum applications and over $30 billion in on-chain transactions and has been featured on TechCrunch, Wired, Bloomberg, and numerous other media outlets. The Alchemy team draws from decades of deep expertise in massively scalable infrastructure, AI, and blockchain from leadership roles at technology pioneers like Google, Microsoft, Facebook, Stanford, and MIT.
Ready to start building your own decentralized apps? Sign up for a free Alchemy account and get started building. For the latest news, follow us on Twitter.