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Decentralized finance (DeFi) has transformed the way people interact with money. From lending, borrowing, to making payments, DeFi effectively eliminates the need for intermediaries and offers extremely transparent financial services.
According to a recent report, as of 2024, the total value locked in DeFi protocols has exceeded $95 billion. And this depicts the massive growth potential for entrepreneurs and businesses aspiring to enter this field.
With the right approach, they can launch a successful DeFi-based business that helps them generate multiple revenue streams. In this blog, we will explore the top DeFi business ideas along with possible revenue models in each of the ideas, thus helping you make a smart choice!
A decentralized exchange enables users to trade cryptocurrencies directly by connecting their non-custodial wallet, eliminating the need for an intermediary. Unlike centralized exchanges, these DEXs operate with the help of smart contracts, which provide users with the required transparency, ownership, and complete control over their funds.
Since there are several cases related to custodial risks, DEXs have been the go-to choice among users. Uniswap alone has handled billions of daily trading volume. This depicts how DEX is one of the profitable opportunities in the DeFi space.
Requirements & Cost to Start a DEX
Technical Requirements
Development Cost: $12500 – $24590, and it can vary depending on the features and complexity.
Revenue Streams
Examples
These platforms allow users to lend their crypto assets to other users who are in need of a loan and earn interest on them. And those users who take up the loan need to lock their crypto as collateral. Thus, these platforms effectively replace banks with smart contracts, which automate the processes along with fast approvals. Since there is a rising demand for crypto-backed loans, this business model is attractive to both retailers as well as investors.
Requirements & Cost to Start a DeFi Lending Platform
Technical Requirements
Development Cost: The price ranges between $8500 – $12790 and can differ depending on the features integrated and other complexities.
Revenue Streams
Examples
A DeFi payment gateway allows merchants to accept payments in cryptocurrency without the need for a middleman like banks or other processors. It offers instant settlements along with global reach. Thus, makes it ideal for various businesses that are looking to tap into the crypto market, like,
Since there is a tremendous growth in the usage of cryptocurrencies and stablecoins, launching a payment gateway is an attractive option to make the most out of it.
Requirements & Cost to Start a DeFi Payment Gateway
Technical Requirements
Development Cost: Developing a crypto payment gateway typically costs around $4590 – $15490, which might vary depending on the features and other factors.
Revenue Streams
Examples
Yield farming platforms are another lucrative business option, which allows users to stake their crypto or lend their assets in liquidity pools and earn rewards out of it. And it often comes in the form of governance tokens. And it widely attracts investors who are seeking passive income. And those DeFi enthusiasts who are looking for ways to make money other than trading.
Requirements & Cost to Start a DeFi Yield Farming Platform
Technical Requirements
Development Cost: The cost of developing a DeFi yield farming platform ranges between $5590- $14500 and can vary based on development complexity and other such factors.
Revenue Streams
Examples
A DeFi staking platform allows users to hold their crypto assets and support blockchain operations, and earn rewards in return. Staking offers a good sum of returns when compared to the yield farming module, thus appealing to both newbie as well as pro investors. Since there is a growing demand among networks like Ethereum, Cardano, and Solana, which use the Proof of Stake consensus algorithm, the demand for staking platforms is in demand.
Requirements & Cost to Start a DeFi Staking Platform
Technical Requirements
Development Cost: The cost of developing a DeFi staking platform ranges between $5590- $14500 and can vary depending on the blockchain integrated and other features.
Revenue Streams
Examples
A DeFi insurance platform protects users against several risks, like hacks and protocol failures. It uses decentralized pools where participants are provided liquidity to cover policy claims. And there is quite a lot of news about hacks where over $1.8 billion is lost in the year 2023, which is alarming. And with this, DeFi has become a high-demand solution among users who prioritize safety.
Requirements & Cost to Start a DeFi Insurance Platform
Technical Requirements
Development Cost: The cost of developing a DeFi insurance platform ranges between $7590- $14500, depending on complexity and coverage types.
Revenue Streams
Examples
A DEX aggregator combines several decentralized exchanges into a single interface, which ultimately helps users find the best token swap rates across various platforms. Instead of manually comparing prices across DEXs like Uniswap or PancakeSwap, users can execute trades at a favourable rate. As the DeFi ecosystem grows, aggregators have become the most-wanted tool for traders seeking efficiency.
Requirements & Cost to Start a DEX Aggregator
Technical Requirements
Development Cost: The cost of launching a DEX aggregator ranges between $7590- $14500, which depends on various factors.
Revenue Streams
Examples
A DeFi wallet allows users to manage, store, send, and receive cryptocurrencies effectively, and it also enables seamless interaction with decentralized applications (dApps). Unlike custodial wallets, here users have full control of their private keys, thus ensuring the complete ownership of their funds and assets. With interesting features like multi-chain support and direct DEX access, DeFi wallets easily connect with the decentralized ecosystem.
Requirements & Cost to Start a DeFi Wallet
Technical Requirements
Development Cost: The cost of developing a DeFi wallet costs around $14590- $24500 and can vary based on various factors.
Revenue Streams
Examples
Staking DeFi tokens is one of the simplest ways to generate income in the decentralized financial ecosystem. Here, users can lock their tokens in a protocol to help maintain liquidity, thus earning a reward in return. Unlike running a staking platform, this model focuses on building a business which can stake assets for clients who don’t have much knowledge in this.
Requirements & Cost to Start a DeFi Token Staking Service
Technical Requirements
Development Cost: The cost ranges between $14590- $24500.
Revenue Streams
Examples
Lending your DeFi assets is another lucrative business model. This allows you to earn interest by lending your cryptocurrencies to borrowers through any of the decentralized lending protocols rather than just keeping them idle. You can build a business model that facilitates lending for both individuals as well as institutions.
Requirements & Cost to Start a DeFi Asset Lending Service
Technical Requirements
Development Cost: $8590- $14500 and can vary depending on platform scope!
Revenue Streams
Examples
A Decentralized Autonomous Organization is a community-led platform where users make the major decisions. And those members who hold the native token, i.e., governance tokens, have the power to vote on proposals such as,
This business model offers both transparent as well as democratic management!
Requirements & Cost to Start a DAO
Technical Requirements
Development Cost: The cost of developing a DAO costs around $4590- $14500, depending on features and factors.
Revenue Streams
Examples
A DeFi crowdfunding platform allows startups and projects to raise funds directly from investors without requiring a bank or other intermediaries. With the help of smart contracts, funds are collected and released transparently. Thus, eliminating the risk of fraud and other vulnerabilities. With token-based fundraising, contributors can receive project tokens that add long-term value.
Requirements & Cost to Start a DeFi Crowdfunding Platform
Technical Requirements
Development Cost: The cost of developing a DeFi crowdfunding platform ranges between $7500 to $24590. And it can vary depending on various factors.
Revenue Streams
Examples
The DeFi space is no longer a space for experimentation, it is already thriving with a successful financial ecosystem with endless opportunities for entrepreneurs. From decentralized exchanges to lending platforms, each business model comes with its attractive revenue streams. The key to success is finding the right DeFi business idea that suits your goals. With several dollars already flowing in the DeFi landscape, this is the right time for businesses looking to enter the space and make a profit, as this helps you stay ahead of the competition.
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