Million Finance

Web3
DeFi
Payments
Million Finance

Project Description

Description: Million Finance provides self-balancing, non-custodial index funds that also generate yield. Your portfolio gets rebalanced for free so that you avoid paying fees to traditional financial institutions. Currently, it is a functioning product and deployed to Solana Devnet. Users can create or invest in customized index funds that can follow any theme, such as a basket of tokens related to DeFi, NFTs, or "top 5 tokens". Each fund is a liquidity pool consisting of multiple tokens with target weight allocations. Traders can swap tokens by tapping into the deposited index funds liquidity. Traders pay a fee to the pool for this service and the pool divides this reward between shareholders. This mechanism constantly rebalances each index fund as traders seek arbitrage opportunities. In one of my previous Solana projects, I built a decentralized ad management platform called Million Sandbox that thousands of Solana users have used. The ads, each of which is a NFT, are integrated into this new DeFi app and placed on various pages. This is a proof of concept that displays the possibilities for integration with my NFT and DeFi apps. To summarize, Million Finance is a decentralized index funds protocol, trading platform, and automated market maker with multi-token, weighted pools surrounded by a NFT community and integrated with decentralized ads. The next steps are to audit the code to get ready for Mainnet deployment and release a token in order to support liquidity mining. Why I built it: I was using a similar DeFi product on Ethereum called Balancer and was charged hundreds of dollars in fees for simple transactions. I thought that a composable DeFi primitive that can be used to build index funds would be way more usable on Solana with high-speed transactions & low fees. I wanted to approach this DeFi app differently by incorporating the power of a NFT community. I've also been working in the traditional tech industry for over 7 years and decided to transition to web3 tech after building a few side projects on Solana. It's the most fun I've had in software development over the past decade and I hope I can continue doing this full-time. Testing instructions: Detailed devnet instructions are located here: https://app.millionfi.com/#/faucet Test the app here: https://app.millionfi.com

Additional Information

Homepage: https://millionfi.com Million Finance App: https://app.millionfi.com Twitter: https://twitter.com/MillionSandbox Million Sandbox App: https://millionsandbox.com

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