Fantom, a DAG (Directed Acyclic Graph) smart contract platform that offers decentralized finance (DeFi) services to developers, recently announced a new partnership with Minimax Finance. According to Minimax, there is a number of benefits that the Fantom network can bring to its projects, such as great speed, security, and transparency that Minimax’s users are already benefitting from. However, this is only the beginning for the project, which seeks to expand even further and integrate even more blockchains.
What is Minimax Finance?
Minimax Finance is a decentralized protocol that aggregates yield opportunities from third-party DeFi apps, and so far, it has already integrated more than 500 vaults on seven different blockchains, with Fantom being the latest one. In addition to aggregation, the project also offers a number of useful tools to reduce risks for its users and allow them to manage DeFi investments more efficiently.
Apart from that, the project also integrates a number of services, such as lending, staking, and farming, as well as stop-loss and take-profit for these services. The project stands out from other aggregators due to the fact that it is about more than just aggregation. It is focused on creating a multifunctional platform to simplify the lending, yield farming, and staking processes and make it more profitable and less time-consuming for users.
Why did Minimax Finance choose Fantom?
With Fantom being one of the leading projects in terms of performance and popularity, Minimax has always been aware of its existence and the benefits that it could bring. Those benefits include multiple things, including EVM compatibility that makes it easy to deploy dApps, and compatibility with Chainlink and Gelato network, with which Minimax already established technical integrations. Lastly, Fantom also stands out thanks to its low gas fees, which makes its assets an attractive option for investors.
Minimax Finance further noted that its integration with Fantom has been extremely smooth and straightforward and that developers have little trouble when it comes to supporting the Fantom blockchain in their multichain dApps. Pretty much all processes involving communication with Fantom RPC nodes were very simple and straightforward as well, so the project did not have any difficulties to report.
It noted that there is one small difference when it comes to comparing Fantom to other chains, and that lies in different gas limits and prices, which did require some additional adjustments, but nothing other than that.
Lastly, the project noted that its experience with Fantom has been excellent so far, and that its users are highly appreciative of the project’s features and benefits. Moving forward, Minimax will seek out more blockchains and platforms, which will also open up new opportunities for Fantom and its other partnering blockchains.
To learn more about Solana, visit our Investing in Fantom guide.