Topic: How much would a development of a crypto lending platform cost? (Read 163 times)
I believe it will be costing you millions of millions or maybe tons of money to be true, The first challenge you will be facing is to benchmark and set the difference of the platform you are planning to do versus the existing ones. Which is i believe is the greatest challenge of all. Money is a problem but the concept of the platform itself is the main thing for me.
January 19, 2018, 08:44:09 PM
You can get an idea from their ICO. They raised about $16M USD during their ICO. However, it is likely that they raised a round of seed funding before the ICO in order to pay for advertising, designers, and preliminary development. My bet would be they probably spent as much as a few hundred thousand before the ICO, and several hundred thousand since the ICO. They have 8 members listed on their crunchbase profile. If they have been all working for about 6 to 8 months on the development so far, this would probably be about a million dollars total so far. This is of course a guess based on the information we have available.
In addition to this, they are now millionaires, the secret of business is always gambling, why they raise so much money with the ICO, it's because of the great devs and admins. They are always contacting big investors.
If 50 million is your fund for developing then 40 million should be used for major used and 10million is for miscellaneous, it can be a lose in the starting and will be doubled when the project keeps on rolling.
All in all it depends on the financial manager.
January 19, 2018, 07:42:47 PM
You can get an idea from their ICO. They raised about $16M USD during their ICO. However, it is likely that they raised a round of seed funding before the ICO in order to pay for advertising, designers, and preliminary development. My bet would be they probably spent as much as a few hundred thousand before the ICO, and several hundred thousand since the ICO. They have 8 members listed on their crunchbase profile. If they have been all working for about 6 to 8 months on the development so far, this would probably be about a million dollars total so far. This is of course a guess based on the information we have available.
January 19, 2018, 07:31:32 PM
Consider ETHlend. They collected almost twenty millions. How much do you think they spent on coding the smartcontract and delivering the site?
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