DeFi Saver is an one-stop asset management tool for a range of decentralized financial protocols and applications on Ethereum.

DeFi Saver supports multiple protocols including Maker, Compound, dYdX and Fulcrum – creating a suite of intuitive, trustless management tools for DeFi users. The asset managament application is currently compatible with wallets like MetaMask, Ledger, Trezor, Fortmatic, Coinbase Wallet, Trust Wallet, and WalleConnect among others.

Some of the core features of DeFi Saver include:

  • Boost & Repay: Allows users to easily increase the position size in their Maker Vault or reduce Dai debt in a single, seamless transaction.
  • Automated CDP Ratio Management: Set automated liquidation protection or leverage increases at specific prices and ratios.
  • Earn Conveniently: Use smart savings for quick access to the best lending interest rates across DeFi protocols
  • Interact Between Compound & Maker: Add Dai to Compound directly from a CDP or repay CDP debt directly from Compound deposits in a single transaction

Background 

DeFi Saver is built by the Decenter team in early 2019. The team consists of a diverse group of developers, graphic designers, content writers and business developers who have been working in the blockchain industry since August 2017.

Despite the team working through the ICO mania, they never conducted an ICO or a pre-sale of tokens or items for any of their projects and instead focused on providing actual value to the Ethereum community and users

In late 2018 – during one of the largest drops in ETH history – the team came to realize how valuable an application for managing and saving your Maker Vault could be. Thus DeFi SAaver was born.

Why? 

DeFi Saver allows users to easily manage their DeFi portfolio with advanced features that are made simple. The ability to access and leverage the power of multiple DEXs along with a range of money protocols into a single, intuitive dashboard streamlines the complexities of DeFi into a digestible manner for many users.

Ultimately, the need for an intuitive interface for DeFi applications will help broaden the addressable market for the nascent industry.

Importantly, DeFi Saver is one of the early DeFi products currently experimenting with a revenue model, aiming to create a sustainable web3 model for its asset management tool. As such, users should be aware that using DeFi Saver includes a 0.25% service fee for any actions that require conversions as well as a 0.125% fee when using the exchange widget.

How Does it Work?

MakerDAO CDP

One of the main features includes CDP Boost and Repay. The Repay feature allows users to increase the CDP ratio and make it safer by taking part of the ETH collateral out of the Maker CDP (rebranded to Maker Vaults), converting it to DAI and using it to pay back a part of the debt, all within a single transaction. The Boost feature allows users to increase the amount of ETH collateral in a Maker Vault at the cost of lowering your CDP ratio by generating additional DAI that is then converted into ETH and added to the CDP, all within a single transaction.

Both of these features combine to create an intuitive user experience for managing the complexities of a Maker Vault.

Compound

The Compound dashboard allows users to interact with Compound’s permissionless lending markets using an alternative interface. The biggest advantage of using DeFi Saver’s Compound dashboard is the support for hardware wallets (like Ledger and Trezor) as well as unique Compound <> MakerDAO interaction features.

This includes supplying to and from CDPs, where the former lets users pay back their CDP’s DAI debt from your Compound Dai supply and vice versa. All in a single transaction.

Smart Savings

DeFi Saver’s Smart Savings feature integrates four DeFi protocols including Compound, dYdX, Fulcrum, and Maker’s DSR into a single dashboard allowing users to easily track interest rates across different protocols and move fund to the best available rate in a single click accordingly.

How to get involved? 

If you’re interested in using DeFi Saver or learning more about their asset management tool, visit the website here.

For those looking to stay up to date on DeFi Saver, follow them on Twitter here. If you’re looking to participate in the day-to-day discussion, you can join the official Discord.