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Genitrust

Crypto-based Hyper-Yielding savings account for the general public. Upto 12% APY provided.

Industry

Fintech 

Services

Reading Time: 3 minutes

Genitrust was an Ethereum-based hyper-yielding savings account that allowed their customers to earn up to 12% on their investments. 

The platform was built with simple solutions with a web and an app interface to sign up in minutes and set up their investment schedules in just 2 minutes. 

Our engagement with the company was strictly restricted to the development of the product only. 

Product Approach

We started building the product after phase1.

The company set out a list of features that they wanted to develop with agile development. We set up a team of 2 full stack developers and a team lead who handled their codebase utilizing Asana and Github to manage the sprints. 

We developed many features for the product that includes the following:

We also did several 3rd-party integrations for the product which are listed below:

Google Tag Manager is a tag management system (TMS) that allows you to quickly and easily update measurement codes and related code fragments collectively known as tags on your website or mobile app. 

We have used GTM in association with Google Analytics to track all campaigns set forward by the company.

Plaid helps all companies build fintech solutions by making it easy, safe and reliable for people to connect their financial data to apps and services. 

In our case, we have extensively used to know about user’s ability to pay the recurring amount to execute recurring deposits or raise notifications to users.

Sila is the leading money API for fintech. It allows users to process payments and transfer to and fro from any bank account connected to you. 

We have used the Sila Money solution to give added payment options to the users. 

Jumio’s identity verification, eKYC, and AML solutions fight fraud and other financial crimes, maintain compliance, and onboard good customers faster. 

We have used Jumio to enable their eKYC to get their customers onboarded in minutes while maintaining compliance with the product.

Unfortunately, their management had to shut off the project and the operations after a year or so with compliance as a major reason and we had to undertake 

Operation Rain where the objective was to put up tech to help speed up the returns and setup an easy process in place to withdraw money for the investments made by every individual.

Technical Approach

We built Genitrust with,

Our primary challenges included integrating Sila Money into the product where the flow of money transfers into many different states and with individual wallets also coming into the picture. 

Development Approach

The development approach we followed for the project was to set up sprints according to the priority of the project requirements. 

Current State

Our clients had a successful go for a couple of years and then had to shut down operations due to compliance issues. 

Technically the product was leveraging the crypto market on the backend to give hyper-yielding to their investments. 

The product leveraged easy and affordable investments for the general public to set out goals and achieve them. 

Our association ended after the operations shut down with the tech helping them a smooth and reliable exit from the market considering easy withdrawals for their customers.  

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