DeFiZap - a smart contract system - Zaps that allocates capital across multiple decentralized finance (DeFi) protocols in a single transaction. At the same time, the platform saves users time and money. You can get instant access to DeFi opportunities right from your Ethereum wallet.
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Description of DeFiZap
DeFiZap- an app that shares other DeFi protocols to make it easier to use in terms of time, clicks and transaction costs. It uses multiple protocols to combine them into a single interface and make them as easy to use as possible. This not only reduces the number of clicks and increases the speed of use, but also reduces transaction costs. The resource allows you to combine the functions of such Ethereum DeFi platforms:
- Uniswap;
- Maker;
- Compound;
- BzX;
- Kyber Network;
- Synthetix;
- Fulcrum;
- Set.
In simple words, the platform helps to place several operations on different resources in one click. In order to learn more about the project, you can go to the "Presentation" section on the official website, since the resource does not have WhitePaper. The dApp is currently still in beta and may be funded by Gitcoin. The service does not have RoadMap in the public domain, therefore, you can follow the stages of development directly on the site or from the social networks Youtube or Telegram.
How does the DeFiZap work?
To start using DeFiZap, users need to fill out a questionnaire. It requires you to indicate what type of investor the user considers himself to be, what level of experience they already have with these tools, and what financial strategy they intend to follow. He also asks if the user has a bullish or bearish outlook on Ethereum for the coming months. At this point, the user is directed to one of the Zaps. Zaps is one of the ready-made scripts to use with one click. At the moment there are only 18 Zaps, although anyone can suggest creating new ones.
This function saves time and money in terms of gas consumption. You pay a commission per transaction. Each Zap also has an ENS address to which Ether can be sent directly along with the recommended Gas.
General information about dapp
The platform has its own Zips token and the resource does not have a referral program with this token, however, it allows you to receive certain advantages with its use. Zips - tokens that represent an order to buy multiple positions with just one token, enabling a faster and more efficient exchange of the most complex and popular strategies. Although the platform is still in beta phase, some achievements can already be noted:
| Number of uses | More than 10,000 users |
| Completed transactions | More than 10,000 transactions |
| Total transaction volume | 15,000 ETH or more than $ 70 million, with a daily peak of 1,000 ETH. |
The last introduced function - the ZAPOUT function. It allows you to eliminate ZAP with one click. There is no need to go directly to the platforms, used in the template. The team is also open to suggestions from new Zaps. Thus, the service does not stop there.