Innovation Theory was proud to contribute towards our client’s mission and vision of creating Mjölnir. Innovation theory was engaged by Erik Voorhees to explore possibilities of his vision of a truly decentralized Cross-chain exchange. In an era where all exchanges had custody under government regulations, individuals did not have complete ownership on their crypto investments.
Our first task was building the front end and UX/UI for their new system, which our team accomplished successfully which resulted in eradication of all forms of third party custody which was previously common in transactions on other platforms.
Government regulations of having custody over citizens assets in cryptocurrency
Adoptability of people worldwide trusting a decentralised exchange platform
Technical integrations of Multi chain transactions
Building a platform with multiple wallet functionality
Making the UX/UI easily understandable and easy to use
Understanding market demand and User behaviour
Innovation theory’s scope of work included creating the platform's UX/UI and making sure it can handle multi-channel exchanges, among other things. It also needed to be able to handle large footfall from numerous people worldwide.
Innovation theory had to collaborate with THORchain ( the first exchange platform where you can swap currencies from different protocols seamlessly ) and make sure all the features are well integrated with Mjölnir. platform so that our end consumer gets the best experience of true decentralised finance.
We did user research to understand what users need and expected from a decentralized cross chain exchange. We explored Thorchain, which is a protocol that allows for the building of exchanges on top of it. We successfully built an exchange with support for swapping assets like Bitcoin<>BNB as well as hardware wallets including Keepkey trust wallet.
Innovation theory took every problem which came in front us as in a stride. Our team did an extensive research on consumer behaviour and needs as well as keeping up with the country specific regulations so our end consumer should not face any trouble.
As our name suggests Innovation Theory wanted to innovate and did not want to just copy an open source platform. Our team decided to monitor how multi chain wallets look and identified gaps in the market which could make a big difference in user experience. Innovation theory applied its Proof of concept of Mjölnir. and contributed it’s fair share on what has created a mark in the history of Defi Industry as we all know now that shapeshift is now fully decentralised.
As a result today the Technology behind Mjölnir powers the Shapshift’s decentralized cross chain exchange.
WallStreetBets is one of the biggest groups on reddit who dominates the investment industry by their opinions and recommendations.
After the GME-Robinhood debacle, WSB community leaders approached us to assist them in challenging the centralized Banking and Financial institutions.Once Wall Street Bets (WSB) decided to enter the crypto market, they also had a token sale coming up. At that time, their main concern was designing its farming module in just one week after the sale started. WSB is more than just a company; it's an entire mindset of doing things and solving problems without worrying about bureaucracy or regulations, of thinking outside-the-box while still staying within legal boundaries.
We were a movement for financial freedom and disruption of how retail and traditional investments were functioning. So we designed a platform for users all over the world to buy stocks borderless with no KYC required - something nobody else could do at that point!
Token sale in a bear market
Presenting an unconventional way to invest in stocks to the world
Gaining trust of investors in new technology
Adoption of this technology in the traditional investment community
Application of this concept for mass users all over the world.
Legal implications of KYC and of stock exchanges.
Innovation theory’s scope of work included accelerating the token sale for a decentralized stock exchange called WSB, creating an innovative way to invest in stocks without KYC and gaining trust with end users.
However we did not stop at just that, we managed to generate over 30 Million USD in total value locked and now we are heading towards launching an NFT platform with WSB to expand its horizon in the Defi Industry.
A short and long term solution roadmap based on the needs of different stakeholders was defined. This includes raising funds through IDO assistance, liquidity mining modules for locking supply to investors, branding updates community driven governance forums as well as other product features like voting modules that are all tied together by staked assets, Community driven Exchange traded products, Synthetic stock trading.
A seamless functionality of your product is important for every company. But we know that the best customer experience isn't just about a quick, painless process. It's also about understanding your customers and their needs in order to provide an environment where they feel comfortable enough to buy from you (or stay with you).
Innovation theory created this product because of our deep knowledge of what it takes to create a feeling of trust through comfort on both sides - theirs as well as ours. We knew we were making a big move in the way how traditional investment system was working and we made sure the transition from traditional to truly decentralized would be smooth for everyone all over the world.
Innovation theory managed to raise 20 Million TVL in farms, 30X form the public sale Price which was its first flag to mark on the map of the blockchain industry.