🚀 4 hacks to scale with the right tech partner
And how to audit your company’s crypto wallets ?
Today's Agenda...
Emilio Barbieri from Labrys shares 4 models to boost your web3 project with a tech partner 🚀🤝
A simple guide to audit your company's crypto wallets for accuracy, security, and compliance 🔍💼
⏰ Reading Time: 7 min
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4 models to engage with a development partner
Emilio Barbieri, Growth Manager at Labrys, APAC’s largest Web3 development agency, has signed up dozens of clients and dealt with hundreds of prospects. Today, he explores various approaches for crypto startups to effectively collaborate with a development partner.
1. Early stage → Scoping workshop & interactive mockups
For some early stage clients, it is both important and cost effective to do up front planning to cut down on development time and therefore cost. For such clients, we recommend a Workshop Session, typically lasting 3-4 hours. In these sessions we gather comprehensive information to understand both business and product goals and how their product will be designed to address them.
These clients typically fall into one or many of the following categories:
Self Funded
Need to both define and refine their product vision and goals
Struggling to develop a product roadmap and set milestones towards towards an MVP
Deliverables:
Scoping document: typically as a Notion site, including the complete project breakdown: from a high-level brief down to business process diagrams, user journeys, prioritized requirements, user stories and more.
Interactive mockups (optional): based on the information gathered during the workshop, our designers craft a Figma interactive mockup including a proposed UI (which could be based on branding assets provided by the client) and UX (including the core features/flows to be delivered). Early-stage teams are usually interested in this deliverable as it allows them to showcase other stakeholders the idea in order to obtain feedback, or to VCs so as to raise funds.
Producing these documents benefits both the Client and the Project Team: clients can use them to seek competitive quotes elsewhere, while the Project Team gains the advantage of a well-defined scope, enabling more accurate development cost estimates and commercial proposals further down the line.
2. Seed or Series A stage → Staff augmentation
These companies have secured funding and possess a clear vision. With a team of developers typically led by the founders or CTO, they often seek additional support to meet demands ahead of a token launch or to deliver key roadmap features.
One recent example is Vana: they initially engaged with Labrys to revamp their Telegram mini-app, and in parallel we worked alongside their team to build and launch the Data Hub, where users can claim their $VANA allocation, stake it, swap it, explore DataDAOs and more. This is one of my favorite use cases, and we’re excited to continue working with Vana. Definitely recommend checking them out !
3. Any stage → Individual part of the software stack
Oftentimes the Client’s core team is busy focussed on core features, infrastructure or go-to-market execution and they are happy to outsource certain parts of the stack to an agency like Labrys.
Swell Network engaged with Labrys to write their ETH staking smart contracts, which by the end of May-2024 secured $3b USD worth of ETH:
Another example is Fjord Foundry, a launchpad that is live in various EVM Networks and engaged with Labrys to help them strategically increase their outreach to an untapped market: Solana. We wrote the smart contracts in Rust and developed an SDK that allows not only Fjord Foundry’s team but also any external development team to tap onto their protocol.
There are more examples of these types of engagements, where we took care of just smart contracts, just frontend, just backend or just integrations.
4. Any stage → End-to-end development
Labrys is a Full Stack agency and the most common engagement type is where we develop the software applications end-to-end. We typically deliver these via our Squads Model.
See example of our Scale Up Squad, is structured:
This is just an example of a Squad team structure. The Squad’s composition and size is determined by various factors such as:
Launch timeline: the tighter the launch date, the more engineers tend to compose the squads.
Project complexity: the project might require both senior frontend developer and a zk engineer at the same time.
Budget: larger budgets can facilitate product management, designers and a larger engineering squad to increase both velocity and quality.
The Squad Model enables Labrys to maintain full control over project delivery, eliminating the need to collaborate with external developers or project managers, often located in different time zones. This approach allows clients to take a more hands-off role, typically designating a Product Owner on their side who regularly communicates with our team.
Some examples of deliveries under the Squad Model include:
The Glue Hub (that launched last week) which offers users the simplicity and convenience of a centralized exchange but with the security and breadth of dApps provided by an onchain experience.
Another example is GRTWines, an NFT marketplace that allows users to purchase tokenized fine wines, trade them and/or redeem their tokens to have the wines delivered directly to their doorstep.
Lastly, we’ve been working with Local Pegs since 2021. Their mobile app offers a suite of innovative features designed to enhance e-commerce, community engagement and support local businesses including features such as:
In-App POS Terminal
Dynamic Discounts
Direct Community Comms
Online Stores for Small Businesses
Support for Charities
Local Pegs currently operates in various Australian cities with hundreds of merchants and thousands of users transacting on a daily basis.
Final Thoughts
While the ultimate goal may be to assemble a full-fledged in-house development team, Web3 startups can greatly benefit from partnering with a development partner like Labrys so as to access global talent and specialized expertise, helping reduce fixed costs and accelerate project timelines. Additionally, outsourcing offers the flexibility to scale resources as needed, allowing companies to focus on their core priorities without the complexities of managing an in-house team.
If you are founder building or looking to build a web3 platform, check our website to learn more of what we do at Labrys and don’t hesitate to shoot us a message over in Telegram, we’re always up for a good web3 chat!
* commercial partnership
How to audit your company’s crypto wallets ?
Managing the company’s crypto wallets isn’t just about tracking balances—it’s about ensuring accuracy, security, and compliance. Regular wallet audits can help you avoid costly mistakes and build trust with stakeholders. Here’s a straightforward guide to auditing your company’s crypto wallets effectively.
1. Start with a wallet Inventory
The first step is knowing exactly what you’re auditing. Create a detailed inventory of all wallets, categorized by purpose:
Operational wallets: Day-to-day transactions.
Treasury wallets: Long-term holdings.
Investment wallets: Staking, DeFi, or NFT assets.
For each wallet, document the type (hot, cold, hardware), associated addresses, and key access details.
2. Verify balances on the blockchain
Unlike traditional bank accounts, crypto balances are verifiable in real-time. Use blockchain explorers like Etherscan (Ethereum) or Solscan (Solana) to:
Cross-check wallet balances against your internal records.
Ensure no unrecorded transactions exist.
Pro Tip: Use tools Cryptio or Cryptoworth
3. Reconcile transactions
Reconciliation ensures every incoming and outgoing transaction is accounted for.
Compare wallet transactions to your accounting records or ERP.
4. Assess security protocols
An audit isn’t just about financial accuracy—it’s also about safeguarding assets. Review your wallet security:
Are private keys stored securely ?
Is multi-signature (multisig) authentication enabled for high-value wallets?
Have there been any unauthorized access attempts ?
5. Check for inactive assets
Sometimes wallets contain assets that are forgotten or underutilized. These include:
Small balances (dust) across multiple tokens.
Idle crypto that could be earning yield through staking or lending.
Decide whether to consolidate, liquidate, or deploy these assets for better efficiency.
6. Review tax and compliance records
Ensure your wallet transactions align with tax regulations. Verify:
Whether taxable events like sales or trades are correctly logged.
If compliance with local crypto laws is maintained (e.g., reporting thresholds).
Final tips for a smooth audit
Schedule regular audits: Monthly or quarterly audits are ideal for active wallets.
Use specialized tools: Platforms like Cryptio or Cryptoworth can simplify the process.
Document everything: Maintain a clear audit trail for internal and external stakeholders.
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Disclaimer : The goal of this newsletter is to inform and produce content related to management in the world of Web3. It is not investment advice. Investments in crypto-assets and NFTs are risky and can result in the loss of your entire capital. Always conduct your own research and exercise caution.