DLTx

Nov 26, 2021

3 min read

The Year So Far

Written by Ralph Lavelle

It’s been a busy year here at DLTx. In the spring we went up in the world, trading a boxy office in Brisbane’s CBD with a view out the window of a nice wall for far more salubrious quarters with a commanding view of the river, halfway up Waterfront Place. In terms of staff numbers we’ve doubled in size, or “2x’d” as we say in the business, to our current stable of around 15 or so developers/testers and visionaries (granted, we have more of the former than the latter, but applications are always welcome).

So far this year we’ve successfully launched a DeFi (Decentralised Finance) app (TVL to date: over five million dollars), pushed out several NFT projects, and created some interesting proof-of-concept projects.

NFTs

The NFT projects have given us valuable expertise in managing what’s become known as a ‘10k PFP drop’ — those iconic collections of (usually) 10,000 cartoonish, meme-like images you see all over Opensea, the largest NFT marketplace. Considering the alternatives a developer is faced with, it’s a bit more fun writing code that spits out thousands and thousands of whimsical characters from the raw material (folders full of images of hats, shoes, bazookas, and whatever other bits and pieces the client wants their characters to sport) we’re given. If we’re lucky our client’s project will take off on Opensea and both parties will do well out of it.

Up until a few months ago, DLTx had no particular experience in managing an NFT drop but when we were approached to create one a few months ago we had to learn very fast, and we did. Despite insane gas prices on Ethereum the current mania is showing few signs of slowing down, but if it does, and more and more projects move to Tezos, Solana, and other Layer 1 blockchains, we’ll just have to learn how to write smart contracts in those too.

DeFi

Another major branch of the cryptoverse that has blown up in the last year or so is DeFi . In September we managed the launch of the FOREX token on behalf of Handle Finance. The HandleFi DApp gives users overcollateralised loans of stablecoins pegged to AUD, EUR, USD, etc. This is an exciting project and has exposed devs here at DLTx to the intricacies and difficulties of writing smart contracts responsible for transferring substantial amounts of money. That stuff is scary, so hats off to the devs.

Not all our financial projects are DeFi, however. Two recent ones belong to DeFi’s tamer twin, CeFi. One, still in development, is a peer-to-peer trading platform, and the other is a crypto-collateralised $AUD lending platform.

Our resident crypto degen Mikey Robertson showing some mad gains

Community

Lucas, one of the original founders of DLTx, is well known in the Brisbane crypto community as one of the hosts of the long-running Bitcoin and Blockchain Brisbane Meetup. These meetups are the first place many people experience the crypto scene as an actual community of people rather than just a few online crypto exchanges and YouTube videos. In fact, we recently ran a successful ‘Industry Night’ meetup in which we pitched the virtues of working for, and with, DLTx to an engaged audience of Brisbane’s crypto community.

As Bitcoin and the broader DeFi ecosystem inches towards mainstream adoption, it’s important that those with a stake in the success of Bitcoin and alternative coins understand what regulation to expect. It is this subject that will be the subject for the last meetup this year (barring the Christmas Party, of course) when we’ll have a lawyer on to talk about the Australian Senate’s Report on Advancing Crypto.

Roadmap

Plans for the future include a podcast and world domination. But we need more developers if we’re going to achieve those goals. If you’re interested in being your own bank, doing your own research, and verifying, not trusting, and would like to be involved in building the future of Web 3.0, give us a call.