Developing DeFi platforms is a challenging task that requires deep knowledge of finance, blockchain, and cybersecurity. Therefore, the development of such a platform, like the launch of any other similar project, begins with business analysis. The processes at each of these steps play an important role, and an ineffective strategy can lead to the failure of the entire project. So, with your team, you need to define the project’s overall concept, objectives, technical requirements, and functionality, which will further help you select the optimal technology stack, build the product architecture, and develop design requirements. This is necessary to calculate the approximate costs so that the development team can create a development plan and prepare the product on time.