Before getting down to New Year resolutions, we decided to sum up what we’ve done in the year 2022. It wasn’t an easy year for the world as a whole and for the crypto community in particular — several major players went down, which led to serious market turbulence.

However, instead of getting bogged down with the negative things, let’s have a look at Minimax achievements this year.

January — V1 launch.

Minimax.finance came to life in mid-January 2022, when our team launched the first version of the platform on Binance Smart Chain. At the time users had an opportunity to deposit CAKE tokens to Pancakeswap pools with stop loss and take profit features.

The integration with Chainlink price feeds insured that stop loss and take profit events were processed correctly.

February — Usability updates.

Our smart contracts got audited by Hacken, a leading cybersecurity consulting company. As the result of the audit, the smart contracts received the ‘well-secured’ grade, the highest available.

Also that month our team released the first updates to make the platform more user-friendly.

March — V2 launch.

After 2 months of hard work, Minimax team presented Minimax V2, which included several significant updates like new architecture, many new vaults and decentralized position liquidation. We’d completely reworked the architecture of our smart contracts and considerably improved the platform performance. In addition to CAKE token, we’d added pools with all the top crypto currencies — BTC, ETH, BNB, XRP, DOT, TRX, DOGE and many others.

April — launch on Polygon

Polygon was the second blockchain on which Minimax was launched. Our journey on this blockchain started with AAVE integration — users got an opportunity to lend WBTC, WETH, CRV, BAL and other tokens on Polygon via our platform.

To make Minimax work as transparent as possible, we’d released a big article explaining how stop loss worked on our platform.

May — Minimax.Finance became multichain.

In May we completed a significant milestone — Minimax.Finance became multichain after the successful launch on Fantom network. AAVE was the first platform we’d integrated on this blockchain. At the same time we expanded our presence on the Polygon network with the Beefy integration.

June — conversion depositing, 1inch integration, launch on Avalanche.

Few weeks later, on the 1st of June, we implemented the conversion depositing. It was a great accomplishment for us because from that moment our users got an opportunity to enter the vast majority of Minimax vaults with any liquid token without having to use a DEX. The feature worked for LPs as well as for single tokens. To make it possible, we integrated our platform with the 1inch DEX aggregator, which defined the optimal routes for token swaps, in most cases providing users with the best exchange rates. Moreover, in June we continued our blockchain expansion by launching on Avalanche and Arbitrum.

July — Stop loss for LP tokens, new ‘tokens’ section, Aurora integration.

A major July accomplishment was the upgrade of LP-token pools with stop loss and take profit features.

‘Tokens’ section was also implemented in July. This novelty was an important step towards the development of Minimax.Finance as a DeFi investment management platform.

Also in July Minimax.finance went live on Aurora network.

August — conversion withdrawal, ‘Swap’ section, new exciting partnerships.

August was quite eventful. Firstly, we launched the “SWAP” section to let users exchange tokens right on Minimax, without having to switch to other platforms.

Moreover, in August we released the conversion withdrawal — the feature that makes it possible to receive any token you want when closing a position. Stellaswap, Solarflare and Beamswap vaults became available on Minimax via Beefy integration.

On top of that, we added the growth graph to the pools’ analytics section. The graph compares the token price dynamics with that of Bitcoin and can help users make an informed decision on whether to play it relatively safe and buy BTC or invest in something more risky but more profitable.

It’s also worth mentioning significant August partnerships. We’d partnered with deBridge and implemented their product deSwap on our platform.

Traditionally, we launched on a new blockchain — Moonbeam.

September — Granary integration

The autumn started with integration of Granary Finance on Fantom and Avalanche networks.

We continued to strengthen cooperation with already integrated projects. Together with representatives of the Fantom blockchain, we talked in more detail about how the integration worked “from the inside”. In addition, we also delved into the description of our cooperation with Venus Protocol, giving our users a closer look at all the details of the integration.

October — more platforms, AMA with Arbitrum

Reaper Farm opened the next wave of integrations on Minimax Finance. Vaults of the project became available on our platform with automated profit taking and protection from losses.

In the middle of October we also conducted a massive web-3 survey, which allowed us to significantly better understand the needs of DeFi users, which led to the pivot of Minimax Finance.

Also we were happy to participate in the AMA held by Arbitrum. It was another great chance for us to tell blockchain users about who we are and what benefits we bring to our users. By the way, the AMA record is still available at this link.

November — new vision, launch on Ethereum, Verse DEX integration

Having processed the data collected during the survey, we decided to make a pivot and told our community about the coming Minimax.Finance transformation. In addition, security has never been superfluous, which also contributed to the revision of the project concept.

Significant changes have occurred in the platform interface. We added a Sidebar Menu, which made Minimax much more convenient to use.

We often received questions about when we would launch on Ethereum. And in November vaults from Ethereum became available on Minimax Finance.

And last but not least was the announcement of our integration with Verse DEX — an important part of BitcoinCom’s growing ecosystem of decentralized crypto products. Feel free to check the press release for the details.

December — launch on Meter, Crew3 quests

In December Minimax launched on Meter.io. What’s more, we took part in a great video AMA with the Meter team, where we talked in more detail about how our platform functions and what its advantages are. The record is still available on Meter Spaces channel.

Minimax Finance has become available on Crew3. We have prepared a large number of exciting quests for users, for which they can earn XP points. If you accomplish multiple quests and get 10,000 XP points, you will get access to the special Minimax airdrop channel on Discord. This will be a great reward for those who are looking forward to the release of the MMX token.

To sum up, it was a very busy year for us and we are far from stopping.

Minimax Team wishes you to have a great time during the holiday period and a very Happy and Prosperous New Year!

See you all in 2023!

Please follow us on social media for further updates.

Minimax.Finance

Linktree

Twitter

Telegram

Discord

Medium

Why?

Lately we’ve conducted a web3 survey to find out, what pains users of our platform and web3 in general have, what their preferences and needs related to DeFi applications are. We received feedback from more than 200 users and analyzed the data, which made us think about changing the product vision.

Another important reason — security. MinimaxFinance got audited in January 2022 by Hacken, and since then smart contracts got significantly upgraded. We haven’t had the latest version audited yet. Besides that, we understand that our smart contracts increase risks due to extra software layers which may be exploited. This factor may be a barrier for some new users.

On top of that, the majority of our customers don’t use our automation features due to complexity, the absence of notifications, and some extra effort to set them up. That’s pushed us up towards the following product changes:

Vision change. Multichain yield aggregator -> web3 interactive marketplace / MetaApp

We want to make our platform a place, where users can see their portfolio like in DeBank, explore new opportunities like in DeFiLlama, and interact with the other apps like in Zapper.

Up till now, we’ve only aggregated yield opportunities to let you earn rewards on your assets. However, many people want to interact with NFTs, borrow, buy, send, receive tokens, and so on.

So, at our platform there will be more sections in the future, such as NFT, Borrow, Portfolio & Discovery. The platform will provide a unified interface, with the help of which you will get a high-level overview of the web3 space like in read-only monitoring services (DappRadar, DefiLlama) and at the same time you will be able to interact with multiple web3 apps directly, without having to switch between different apps and blockchains. We will provide more details about this in the future.

Direct mode. Full ownership

As of now, users of our platform deposit their funds into our smart contracts, which own the users’ positions after transactions get finalized. This implies some cons, such as: 1. Impossibility to monitor the positions via portfolio trackers (e.g. DeBank) 2. Inability to manage the created positions in native applications, such as Aave / Venus / PancakeSwap, etc. 3. Lack of composition: for example, it’s impossible to obtain stETH in Lido first and then provide it as a deposit in some lending protocol such as Aave (as currently your stETH will be locked in an isolated position, even if you don’t want to use our automation features).

So, we decided to give our users the ability to interact with their favorite apps directly through our proxy contracts. That means — you still interact with our smart contracts, but the final result of the operation will be as if you are interacting with the apps directly. For example, if you use our platform to open a position at Aave, you will be to see the position at our platform, Aave and portfolio tracker like Debank. You will also be able to manage this position at Aave, should you decide to do so, you won’t have to depend on Minimax.

This direct mode will be enabled by default, and automation features like stop loss, take profit and others will not be supported for this mode. However you will still be able to use these features if you consciously switch to Advanced mode, being aware of additional risks. So, the current version of Minimax contracts will be turned off by default, though still available.

Gasless transactions. Ease of transaction signatures

We want to integrate Gelato Relay to get rid of constant chain switches. Among web3 users that we interviewed > 75% use at least 3 chains. After implementing this feature these users will be able to:

1. Interact with their favorite apps on multiple blockchains without having to get the native token. For example, if you don’t have ETH, but have sufficient amount of USDC in your wallet, the gas fee will be charged in USDC. So you won’t have to keep the native tokens on all the blockchains to pay for the gas fees.

2. Suppose your Metamask (or any other wallet) was connected to BNB Chain, then you decided to interact with Earn pools on Ethereum — then you don’t need to switch the network in Metamask, we will just ask you to sign arbitrary transactions and then broadcast them to the right network through Gelato Relay. Fewer routine operations on your side.

Open-source listing for apps

As a marketplace, we will make it possible to do small pull requests in our GitHub repository, which will enable the teams of other projects to easily integrate their dApps with our platform (Earn and Swap sections are enabled for now).

So, if you want your AMM-based DEX or yield pools to get listed at the Minimax marketplace, you will be able to make a small pull request, describing how we should put users’ funds into your pool and take them out, and how APY/TVL data should be collected. Currently we do this ourselves and are not able to fulfill all integration requests fast enough. Being integrated with our marketplace is beneficial for your app as an extra source of traffic and liquidity.

That’s all the news for now. Stay tuned!

Minimax.Finance Linktree Twitter Telegram Discord Medium

Minimax.finance aggregates yield opportunities from all major DeFi apps. On top of aggregation the dApp provides a number of unique features for management of DeFi investments: protection from losses, automated taking of profit, simplified entry in and exit from DeFi opportunities, multiple positions per vault, etc. Please read on for more details.

Minimax Finance has been deployed on 7 blockchains: BNB Chain, Fantom, Polygon, Avalanche, Arbitrum, Aurora and Moonbeam, with more coming soon. Smart contracts were audited by Hacken.io.

What are the major features of our dApp?

1. Protection from losses for staking, lending and yield farming. If the asset price falls below the stop loss level a user specifies, the investment will get automatically converted into stable coins.

Suppose you have chosen a vault with a fairly high API. Being aware of all the risks, you are unlikely to rest easy by making a deposit there. At minimax.finance you can set the stop loss level for both single and LP tokens to make sure you don’t lose much money if things go wrong.

1. Ability to automatically take profit, when price goes up to a certain level.

You don’t have to constantly monitor the prices of the invested assets. You can set the take profit parameter at the level you want and let our contracts automatically grab the profit, when the price reaches the specified level.

1. Conversion depositing - ability to enter any vault with any token.

Let’s assume you’d like to place a deposit in CAKE-BUSD LP token vault. Without this feature you’d need to buy CAKE and BUSD at a DEX. After that you’d have to go to Pancakeswap and bundle them into the CAKE-BUSD LP tokens. And only after that you’d be able to deposit the LP tokens to the vault. With conversion depositing you can use any liquid token (like DOT, BSW and hundreds of others) to enter any vault. Our smart contracts will seamlessly do all the necessary conversion and bundling operations for you.

1. Conversion withdrawal, which means the possibility to receive the token you want when closing a position. Basically this works the same way as conversion depositing, only in reverse order.

Withdraw funds into any token when you finish farming. All the conversions and LP-token creations are done seamlessly by our smart contracts.

1. Multiple positions per vault for more flexible fund management.

This enables you to structure funds and manage risks by setting individual stop loss and take profit parameters for each position. The position sizes and all other parameters can be adjusted as your strategies change.

1. ‘Tokens’ section, in which people can see the tokens sitting idle in their wallets and put them to work.

The purpose of the “Tokens” section is to make it easy for you to identify unused assets in your wallet, put them to work and withdraw them when necessary. If there’s a token in your wallet, it should generate passive income for you, you’ve been working too hard to let it fool around.

1. Swap section, which works for exchanges on 5 blockchains and supports cross-chain swaps for 4 blockchains (via deBridge).

Minimax uses 1inch Router v4 for swaps within the same network and deBridge v1 for multichain swaps. Please be aware that cross-chain swaps aren’t available on the Fantom and Aurora networks yet.

These are the most important, but not all the opportunities that Minimax Finance offers to its community. Our team is working on improving the platform every day.

Our goal is to build an application, which makes investments in DeFi much safer, easier to manage and much more profitable.

Stay tuned with the updates and join Minimax Finance community official channels:

Minimax Official Website: https://minimax.finance Telegram Chat: https://t.me/MinimaxFinanceChat Telegram Channel: https://t.me/MinimaxFinanceChannel Medium: https://blog.minimax.finance Discord: https://discord.com/invite/A6GJ6Qktwm Github: https://github.com/minimaxdefi Linkedin: https://www.linkedin.com/company/minimaxfinance/ Reddit: https://www.reddit.com/r/MinimaxFinance/ YouTube: https://www.youtube.com/channel/UCoFnNUNJcqdJts8cnpzvQrA