Scuderia AlphaTauri and Fantom have started a collaboration. As part of this, the F1 team will start promoting the LIF3 project. They will do this by displaying their logo on the Halo of the Hungarian Grand Prix.
What is LIF3
LIF3(.com) is the first decentralized application (dApp) to provide access to crypto asset trading and yield farming. They also offer some other features and services, including various loaner services. The application ultimately aims to bridge the gap and bring blockchain closer than ever before for more real-world use cases. It is built on Fantom’s first Layer-2 scaling solution called Tomb Chain. Quantum Fintech Group Managing Director Harry Yeh said:
“Some of the biggest challenges we’ve faced, even with Fantom’s great performance and uptime, have been periods of major network congestion when too many dApps are running on a specific Layer-1 chain. Tomb Chain powering LIF3.com is the equivalent of the most effective aerodynamic package for F1 vehicles, enabling optimized performance by reducing congestion and increasing high speeds consistently, reliably and efficiently with a higher number of transactions per second.”
Add new range of services
LIF3.com consists of a decentralized exchange on which various DeFi tokens can be purchased. These can then also be used to earn rewards. However, the platform is still under development, so new functions will be added. About this Harry Yeh says the following:
LIF3 is constantly evolving and will see a range of services added to its ecosystem in the coming months such as The Game of LIF3 ($LIF3 $LSHARE) launching on LIF3.com with an upcoming authorized Layer-1 Blockchain to provide Tomb Chain ($TOMB $ TSHARE) and Fantom ($FTM) in the works.
While Formula 1 finally uses rules to ensure fair competition for all teams, LIF3 provides a safe environment for developers and the investment community. Through LIF3’s constant evolution of new services and the performance validation of Tomb Chain and Fantom, users will experience new levels of speed, security and technological innovation that will increase ease of use for the general market.
