BonFi announced strategic partnership with DFI Money

BonFi announced last Friday, March 12, through its Twitter account, its strategic partnership with DFI Money. According to the company, $ BNF will integrate YFII’s Apollo Project with its BonVest and add YFII products to BonAI; while ensuring that both teams will collaborate to “advance and build new value-added DeFi solutions”.

“We are excited to announce that we have entered into a strategic partnership with YFII – DFI Money to advance the global adoption of DeFi. The two DeFi platforms will collaborate to stimulate the broader DeFi ecosystem and joint initiatives that cover marketing, branding and the expansion of the international community”, he said through an article published on the Medium platform.

Performance aggregation

According to the company, existing performance aggregation products are conservatively designed and tend to lag the market. “Due to rapidly evolving market conditions, yield aggregators are struggling to meet the needs of miners in the new DeFi crop cycle”, he commented. Given this, BonFi shared what, in his opinion, are the main weaknesses:

• Complexity: developing new performance strategies is complicated and change is not convenient. Existing performance aggregation products have complicated coding, lengthy audits, and chain test cycles.

• Routing: multiple conflicts within extensive network collection, slippage, and fluidity processes.

• High transaction costs – The current collection model requires multiple network transactions per collection, resulting in high gas rates. There are also frequent changes to the smart contract trading path that can delay the market, causing a potential loss in earnings.

BonFi noted that YFII has launched Project Apollo, an “innovative minimalist aggregator product” that focuses on optimizing transaction fees, rapid strategy change, and DeFi’s compounding ability to address these issues. Therefore, he highlighted that the Apollo Project is already implemented in all blockchain platforms compatible with EVM and tested in BSC, Huobi and Heco.

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Performance Aggregator Expansion

The company explained that YFII’s Apollo Project will be integrated with BonFi’s BonVest. “BonVest is an advanced liquidity mining pool solution, leveraging artificial intelligence to help users optimize their cryptocurrency portfolios”, he said.

At its discretion, users will be able to access YFII’s Project Apollo products as part of BonFi’s third-party DeFi offerings. Additionally, YFII’s products will be added to BonAI, a proprietary Artificial Intelligence (AI) system that takes advantage of prediction-based logic.

“In addition to the expansion of the Yield Aggregator, we will continue to explore synergistic opportunities to build new value-added DeFi solutions. We intend to jointly explore the trading platforms for synthetic assets, derivatives and liquidity crowdfunding in the coming months”, he specified.