In an age when crypto companies are continually duking it out to take market share from one another, it’s refreshing to see DeFi projects take composability to the next level.
Why Snap+Zap? Thread 👇 pic.twitter.com/4ZhN2ucRmP
— Zapper Protocol (prev. DeFiZap) (@DeFi_Zap) May 1, 2020
As some of the most dedicated grassroots projects in the space, this merger comes with an exciting new facelift via the newly launched Zapper.fi – a new and improved asset management platform combining DeFiSnap’s holistic ecosystem tracker with DeFiZaps seamless entry-ways into those very opportunities.
For our more frequent readers, you may recall our first interview with DeFiZap founder Nodar Janashia shortly after winning Kyber’s DeFi hackathon. Even just after starting, Nodar had a clear vision for the future:
“I think simplicity is key. I see DeFiZap as a great way to aide in smart portfolio management. Over time, we want to offer tools that can look into your wallet and assess risk within any given portfolio. From there, our partners can give advice on how to improve your risk through diversification or limited exposure.”
With this partnership – that vision is being realized today.
Outside of the exciting new brand, Zapper comes with a suite of new features including Multipooling and Zips.
With Multipooling, users can enter into various DeFi pools in once click using one token like ETH. This directly builds on their mission of easy access and with DeFiSnap powering these interactions, users can easily manage and track their positions through an intuitive dashboard.
To provide more granularity, we can enter into Uniswap, Curve, and Balancer all in one transaction, effectively splitting ETH evenly across all of them. Similarly, users can enter three different Uniswap pools all at once.
Next, we have Zips! The TLDR version of Zips is that users can go beyond pooled liquidity to take advantage of deeper DeFi Earn opportunities like Synthetix SNX liquidity incentives. Better yet, these tradable ZIP tokens automatically reinvest profits to earn more returns at a faster rate. Here’s a great explainer of this from the Zip tutorial.
- As it works today, sETH LP tokens cannot be moved once staked. With zUNI, tokens can be transferred freely while remaining redeemable for an ever-growing amount of sETH LPs.
- Accrued SNX rewards are rebalance into sETH pool tokens which are re-staked to accrue more SNX rewards at a faster rate.
- zUNI help to improve the sETH<>ETH peg as SNX is used to buy sETH from Uniswap to balance the sETH LP tokens holdings.
Basically, Zips like zUNI are an ETH Maxi’s wet dream. Not only are you earning fees from sETH/ETH Uniswap pool (which mitigates impermanent loss), you’re constantly cycling more ETH into the pool as a result of weekly SNX rewards – all of which is happening automatically.
In the coming weeks, Zapper will be rolling out a ton of new features including piping to quickly shift between different liquidity pools, leveraged pooling and hedged pooling to get more usage out of staked liquidity.
All in all, Zapper is seriously challenging the notion of putting your capital to work in DeFi. Just when you think it couldn’t get any better, Zapper adds a new feature to automate your DeFi returns and keep the Yield Hacking going.
Thank you @AlexMasmej and the entire DeFi community for such a warm reception. I wouldn't be leveling up anything if it wasn't for you guys and a team of rockstars i get to work with everyday💪@amateurdev2 @cryptonomik @sebaudet26 🥰 https://t.co/dkfwu5OXe5
— Nodar.DeFiZap.eth (@NodarJ) May 2, 2020
If one thing is for sure, this partnership comes as a major win for both DeFiZap and DeFiSnap – both projects which are strong supporters of here at DeFi Rate.
To keep up on all things Zapper, be sure to visit the official website, read their official docs or following them on Twitter.
Cooper is the Editor of DeFi Rate and an active contributor to leading DeFi media outlets like The Defiant, DeFi Pulse, and Bankless. He works with early-stage teams through Fire Eyes DAO to incubate governance models and grassroots community development. He is an ambassador to Set Protocol and an author of a weekly publication called Token Tuesdays. To stay up with Cooper, follow him on Twitter.