What users need from a modern DeFi application — 7 points
Hello, experienced DeFi users! If you are not one of them, we have good news for you — you don’t have to deal with inconvenient clumsy user interfaces, poor functionality and huge losses. Please find below our vision of a modern decentralized finance application:
1. Stake, farm, lend — all in one place
Vaults from all major blockchains, DEXs, and aggregators on a single page in multi-chain yield aggregators hub.
You don’t need to spend your time switching between different platforms, waiting for the data to get loaded each time. See all your investments clearly formatted, on a single page, and manage them appropriately. DeFi should value your time!
2. Stop loss and take profit for staking, lending and yield farming
Protect your DeFi investments from losses. Fix profit, when prices grow. Setup automatic conversion into stable coins when prices reach certain levels.
Let’s say you want to stake my ETH. However, if the price of ETH becomes less than 2500$, you’d like to automatically swap it into USDC to limit your risks. Or sell it if the price goes above 5000$ in case of an instant pump, to fix your profit. Is that possible? Yes, at minimax.finance you can enable stop-loss and take-profit parameters (like on a centralized exchange, such as Binance) for your staking, lending and farming deposits and sleep well at night.
3. Auto-selling of rewards to increase yield
Three options: one — reinvest to the same vault; two — convert and stake as stable coins; three — transfer to your wallet.
It’s a very common scenario, when you stake LP-tokens in some brand-new DEX to earn their native tokens. In most cases you sell these tokens right away before they lose value, which is often the case. Usually you need to manually collect and sell the earned tokens every X days. Sometimes you convert the rewards into the same LP-tokens and re-stake them to compound the yield. Or just claim the earnings to your wallet. In a good DeFi application you should have the ability to set automatic rules for handling rewards. And that’s what we are working on!
4. Combination of yield farming and algorithmic trading
Create your own trading bot strategies and combine them with staking to increase profit.
Do you like trading CAKE token? Or DOT, ETH, etc? We noticed that many people, who aren’t full time traders, hold the purchased tokens for long periods before they sell them again, waiting for an attractive price. So, between the trades, it makes sense to deposit the funds in reliable DeFi protocols, which offer the best APYs.
However, whenever you want to swap your crypto, you need to withdraw your deposits, do all the operations manually, and then re-enter your previous staking/lending/farming positions spending time and gas fees on each action.
Is it possible to automate this process? Not yet. However! We will be releasing such functionality within a few weeks.
You’ll be able to set buy and sell levels for your favorite tokens, and all the swapping and staking operations will be carried out automatically. This way you’ll never miss a good opportunity to sell or buy the tokens and between the swaps they will be staked and generate passive income for you.
For example, you’ll be able to stake CAKE in Auto-CAKE pool and set buy level at 5$ and sell level at 12$. So your position will have two active tokens — CAKE and BUSD, with CAKE getting converted into BUSD when sell level is reached and at buy level vice versa — BUSD will get converted into CAKE. Between the conversions the token will get automatically staked to the vaults of your choice to generate yield. So you will be able to create automated strategies which will generate profit for you via both trades and staking.
5. Multiple positions per vault with separate parameters for each position
Specify individual parameters for each position to implement different investment strategies within one vault.
Treat each investment as a separate CEX-like position (CEX here is a centralized exchange). For example, on a centralized exchange you can create a limit order, which is placed in the orderbook when the price of the underlying asset goes below X$ and at the same time create another limit order for the same position.
Usually, in DeFi apps you can’t split your funds into independent positions within the same vault. This means that you need to do a lot of manual operations if you want to implement several different strategies for the same token.
At our platform you can create as many positions within the same vault as you like. For each position you can specify individual stop loss, take profit and other parameters.
6. Telegram bot for position notifications
Get notified about all changes to your assets without having to constantly monitor them via apps or websites
Suppose you had a leveraged position in some DeFi protocol, which got liquidated. Or APY of a staking pool got very poor and a more profitable opportunity appeared. And so on.
To learn about such things first of all you’d have to remember about all the protocols in which you’d invested and then spend a considerable amount of time manually checking each platform.
But what if there was a Telegram bot, to which you could subscribe and get notified about changes to your portfolio and new market opportunities across all DeFi?
For example, get notified, when APY of a DOT pool becomes less than 20% for 5 consecutive days. Or your position gets liquidated due to stop-loss or take-profit, etc.
7. Easy migration of positions from other platforms. With just a click of a button
Currently you can migrate your positions from other platforms to Minimax manually. However, in the near future we will add the ability to transfer funds from other protocols with a click of a single button.
We at Minimax Finance are happy to see you here! Some of the features mentioned above are already implemented, some of them aren’t. We are working tirelessly to release all of the features mentioned above within the coming weeks.
All the vaults displayed at our platform are sourced from third-party DeFi applications. We are a smart proxy for all existing protocols across DeFi, which enables you to handle all your investments in one place. We are a multi-chain yield aggregators hub.
The additional features implemented in our application empower you to manage your funds much more efficiently and get more profit.
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