Whatever your financial situation was in the past year, we all want to get our finances in the shape in the new year and possibly, level it up.
If you have heard of DeFi and you’re actually thinking about getting into it and leveraging the blockchain technology for your finances somehow, great — you’re on the right path. If you’re not familiar with the DeFi — please keep reading, it will only take you three minutes to get to know more about this new thing, and then, you can make your own decisions.
DeFi brings traditional financial instruments to an open-source and decentralized ecosystem, allowing the (d)apps that remove the need for a middleman. But the thing is, there’re so many DeFi products out there (if you just simply search "DeFi" on Dapp.com), where exactly should you start? Here comes DeFiZap to help you “zap out” all the “noises”, get you access to multiple DeFi protocols instantly and eventually achieve your goals.
Built on top of Ethereum blockchain, DeFiZap allows you to allocate the assets across multiple DeFi protocols in just one transaction without spending extra time and gas fees. DeFiZap’s smart contract — Zaps, enables instant exposure and also helps to auto-spreads incoming deposits across multiple DeFi products. As other Ethererum-based DeFi products’ liquidity provider, DeFiZap helps you to put your money into those protocols and get the most out of it.
A useful use case of how to leverage Uniswap pool with ETH to earn fees and cDAI on DeFiZap:
Source: DeFi Tutorials
All you need to do is go to the Zap of DAI LLP, input the ETH amount that you want to invest in. With the help of DeFiZap, you will be able to earn 66% of the fees from trading ETH/DAI on Uniswap and also earn interest on cDAI.
Instead of going through multiple platforms, you will be able to access to lending, staking, and other DeFi opportunities from your wallet. And Zaps helps to deploy ETH across protocols in one transaction, so you can execute your investment with ease.
Do you know your investing style? If not, don’t worry, DeFiZap has a little quiz for you to help you understand your risk tolerance and make the investment decisions that fit your needs.
When you are doing this manually not only are you wasting more time, Uniswap UI doesn’t allow you to pool all of your ERC20 tokens just yet. You will always have some leftover. With DeFiZap, that residual is less. Here's an example:
You may check out the returns on DAI LLP — if you entered the day it was launched (9 days ago).
First of all, if you’re not sure which Zap you should go with, go to Zap Generator to answer a few questions. There’s no right or wrong answer, just choose the one that you feel comfortable with.
Alright, looks like we’re going with the conservative one. You will see a few recommended Zap that DeFiZap suggests you use. If you’re still not sure, you always can click “Learn More” to find out how does this Zap work.
Once you make the decision, choose “Use This Zap” and input the amount of ETH.
The DeFiZap team is working on AntiZaps in one click — the most requested feature. It will allow you to exit everything in one go and reverse what you did with Zapping in. Once DeFiZap has all LLP combos available, you will be able to always stay exposed 100% to an asset, which you are bullish on while scanning pools with most volume for best returns and one-click switching between pools, while keeping 100% exposure in an asset you are bullish on.
In the meantime, the team is working with many wallet providers right now on integration. The best part is that DeFiZap doesn't add on any extra smart contract risks in addition to current financial protocols that are built on top of Ethereum. End-user like you are literally doing the same thing you would be doing on your own when interacting with these protocols. You're not waiting for one transaction to settle in order to move on to the next one and all funds (minted liquidity tracking and position tracking ERC20 tokens, which were minted on Uniswap itself and DeFiZap doesn’t lock anything up in their smart contracts) are always in your wallet, not some proxy wallet the platform sets up for you. That's why all the wallets want to integrate with DeFiZap so they can choose which Zaps they want to display to end-users. Also, wallets can even add on a fee for providing their unique user experience or education or wallet security.
According to the plan, after AntiZaps, the team will start working on building tons of new Zaps, such as Arbitrage Zaps, Insured Zaps, Dynamic Zaps, Gas-less Zaps, Private Zaps, Fiat Zaps, Create your own Zaps, Atomic Zaps, any ERC20 input/output, pool bridging, and more.
Eventually, the DeFiZap team wants to open up the gates for everyone to create their own Zaps and make a portion of fees generated from them if the Zaps get popular within the community. Before DeFiZap “blasts” you with a bunch of new concepts, the team wants to ease everyone into getting addicted to using Zaps first!
This article is not financial or investment advice on investing anything on the platform(s). Dapp.com is in no way affiliated with companies behind the protocols and we can make no guarantees regarding their stability or security. Therefore, it is always encouraged to do your own research before investing or purchasing anything in the DeFi and blockchain space.