Why should I use Minimax?

We save your time and money.
We show you all major opportunities across major blockchains to invest your tokens to generate some rewards (such as deposit in a bank in traditional finance) on a single page and provide some exclusive features.
Here are some of them:
  • Stop-loss & Take-profit for price of invested asset for staking/landing/farming
  • Analytics charts with APY (Annual Percentage Yield), TVL (total value locked), price of invested assets and much more
  • Plurality of investment options on different chains and protocols on a single page
  • Zap (i.e. conversion) deposits and withdrawals with any token as in Zapper.fi
  • Portfolio of your tokens with recommendations on how to invest them
  • Excellent performance of application on any device
  • Embedded production ready cross-chain swaps
You can read more use cases for each feature in our blog.

Why can I trust Minimax? Would my money be safe?

Minimax Finance is a web3 decentralized application, which means that when you deposit your tokens, they are handled by a set of our smart contracts, where logic is fully transparent and accessible. Our smart contracts rely on audited and battle-tested contracts of other major protocols, so your money is directly stored in Aave, Venus, Beefy, etc and our smart contracts are just smart relayers.
Minimax smart contracts are verified on all blockchain scans and can be found in the Docs section. Our smart contracts use reliable components, such as Chainlink price feeds and Gelato network for automation. 1inch is used for robust conversions between different assets. Also, we use DeBridge for optimal and reliable cross-chain swaps.
Beside that, we have done an audit by Hacken, a leading security consulting company (link). More audits are coming soon.

What is the difference between staking on Binance/Centralized exchange and staking on Minimax?

In the case of Binance there are limited options for staking and you need to trust a centralized party, such as exchange (in addition there are requirements for KYC). Minimax Finance requires only a wallet (such as Metamask), and you can flexibly choose any investment options (staking, lending or farming), get historical analytics with charts and add advanced options for your positions (stop-loss, take-profit).

What are the risks?

The main risk in DeFi is protocol being hacked and money went out. As a regular DeFi application we have that risk and should warn you to use our application at your own risk.
Minimax smart contracts are just intelligent relayers for external protocols, such as Beefy, Aave, Venus, Alpaca, etc. So, the risk may be decomposed as:
Risk = Risk of external protocol being hacked + Risk of Minimax relayer being hacked
We strive to minimize the last component as much as possible.
Do you charge any fees for Minimax usage?

How does Minimax differ from Beefy?

We have more investing opportunities than Beefy. We aggregate Beefy pools and lending pools (Beefy doesn’t aggregate lending protocols). Beside that, we have advanced automating features such as stop-loss & take-profit.

How to choose a vault to invest in?

We do not provide financial advice. Please do your own research.
You need to consider the risks for each vault and decide on your own. However, we try to save your time during vault evaluation, providing you with all the necessary information, such as price fluctuations, comparison to BTC price changes and other analytics. There are three main categories:
  • Stablecoins – price of asset to invest is pegged to 1$, this vaults can be considered as low-risk option
  • Single assets – when you invest in this kind of vaults you buy single token, which will generate rewards during investment in other protocols. Price of asset will fluctuate during the time, usually in an unpredictable manner. There stop-loss feature comes into play.
  • Liquidity pools (advanced) – underlying assets are bundled from many assets, during this process your tokens are provided as a liquidity in some DEX liquidity pool. Usually, after that, you get LP tokens as proof of possession of some part of liquidity in a certain pool. These LP tokens are being staked in DEX to farm platform tokens. BeefyFinance automatically sells these platform tokens and bundle LP tokens again, making smart auto-compounding.

What is 'Approve' button for, what do I need to approve?

This is a web3 feature, each dApp needs to receive an approval before getting access to any of the tokens in your wallet. Pressing the ‘approve’ button in the Minimax vault means that you trust our smart contracts to use your tokens during the deposit process. This action is required to correctly process deposit action.

What is the positions section?

There you can find positions you created on Vaults page and close/modify them.