DeFi ecosystem Primex kicks off its new version - Primex FrenDeFi a one-stop DeFi app aimed at bringing decentralized finance to everyday users.
Though decentralization is a core promise of blockchain technology, interacting with decentralized finance (DeFi) platforms can be a gruesome task for both novice and seasoned users. A confusing terminology accompanies the space, which may sound alien to less-experienced users. And the complexity of many DeFi interfaces adds even more trouble, bringing along the risk of costly mistakes.
As for experienced users, DeFi’s fragmented landscape creates inefficiencies that decrease portfolio visibility and slow down asset management. The need to constantly switch protocols and networks for different tasks, such as lending, farming, staking or trading, increases both time and transaction costs, which may result in suboptimal trades. Additionally, network congestion and high gas fees make interacting with DeFi less accessible, discouraging wider adoption.
Primex Finance is a DeFi platform that addresses widespread industry challenges with its new app - FrenDeFi. Its user-friendly design and simplified onboarding - through fiat on-ramps, social login, and gasless transactions - make it especially accessible for novice users. Already deployed on several networks, including Base, Arbitrum, Ethereum mainnet, and Polygon, and with an upcoming launch on the Monad testnet, Primex offers both new and experienced users a one-stop DeFi app to access a wide range of yield and portfolio automation opportunities through a single interface.
A one-stop DeFi ecosystem
Shortly after concluding its mainnet beta phase, Primex is launching FrenDeFi to go beyond spot margin trading and leveraged yield farming, and become a one-stop DeFi portfolio and yield farming platform. With this new release, users can access a wide array of DeFi opportunities, ranging from trading, lending and farming to staking, restaking and looping strategies in one place without having to understand technical complexities.
FrenDeFi Portfolio is a standout feature introduced in the Primex FrenDeFi app. It functions as a universal DeFi wallet, allowing users to view all their balances and positions across multiple protocols and supported chains simultaneously, and manage them with ease. More features will be added over time, for example, AI-powered portfolio creation and an AI-powered rebalancing of multiple positions with leverage.
AI integrated to optimize activities
Artificial intelligence will play a large role in the latest version of the platform. Users will be able to create a portfolio with the help of an AI-powered assistant that provides personalized recommendations, part of the FrenDeFi experience, and later leverage an AI tool for real-time, automated portfolio rebalancing.
This also enables “set-and-forget” DeFi strategies, where users simply deposit funds and let DeFAI optimize them. With all these features, Primex FrenDeFi is designed to simplify onboarding, eliminate UX complexities, enhance portfolio visibility across multiple chains and protocols, and maximize opportunities.
AI-powered portfolio creation. Source: Primex Finance
Primex FrenDeFi also includes cross-chain features, allowing users to seamlessly interact with multiple networks through a single interface, along with a gasless user experience that enables transactions without the hassle of gas fees or other technical complexities.
The user-friendliness of the platform is further reflected in the ability to create wallets instantly via email or social login, making DeFi as easy and accessible as using a Web2 application.
Step toward the future of DeFi
Primex recently launched its native token, PMX, which serves as the backbone of its ecosystem. In addition to enabling holders to participate in governance in future updates, users can stake the token to benefit from protocol revenues or use it to pay fees for all DeFi activities at a discount.
Primex FrenDeFi launches on multiple chains, including Ethereum Mainnet, Base, and Arbitrum, along with a debut on the Monad testnet, tapping into a promising new ecosystem. More deployments are on the way.
FrenDeFi Roadmap. Source: Primex Finance
The Primex FrenDeFi is more than just an upgrade — it is a crucial initiative to make DeFi more accessible, efficient and rewarding for everyone. By eliminating complexity, integrating automation, and offering AI tools, Primex delivers an exceptionally user-friendly on-chain portfolio app that makes it easy for novice users to navigate and onboard into Web3.
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