Since winning Kyber’s DeFi hackathon, DeFiZap has continued to turn heads with numerous product updates and improvements on a weekly basis.
In this article, we’ll be taking a look at some of the most recent features, along with a look into what users can expect in the coming months.
For those unfamiliar with DeFiZap, the product allows users to quickly and easily enter various DeFi income streams with one token. To get a better understanding of the project’s background, check out our interview with the founder here.
At it’s core, DeFiZap thrives on optionality. Since our last article, DeFiZap has delivered a suite of Leveraged Liquidity Position (LLP) Zaps, making it possible for users to earn Uniswap returns while retaining exposure to an asset of their choice using bZx’s Fulcrum.
Similarly, DeFiZap recently introduced General Unipool Zaps, allowing users to quickly enter Uniswap pools of their choosing with Ether.
— Seb Audet (@sebaudet26) February 12, 2020
In summary, all new Zaps provide onramps for users to quickly capture enticing passive income opportunities in a fraction of the time.
Perhaps the most novel of the new features in the introduction of “Zap Out”, quickly allowing users to exit a Zap in one click.
Introducing the long-anticipated ZAP OUT
Creating a full experience of coming IN + OUT of @UniswapExchange Pools with ONE TOKEN (e.g. ETH). So instead of withdrawing liquidity into 2 separate assets, you have an option to auto-convert to ONE.
Here’s how it works pic.twitter.com/hNeDSofQj2
— DeFiZap (@DeFi_Zap) February 3, 2020
Whereas before users could only “Zap In” – basically transferring the converted assets and tokens to wallet which ETH was sent from – they can now “Zap Out” in a seamless fashion as well.
This means that users can enter a Uniswap pool in ETH and exit in that same asset, making it that much easier to calculate returns over the course of a Zap.
Beyond the features listed above, DeFiZap has been hard at work partnering with a number of DeFi products for additional exposure. In particular, DeFiZap has been integrated with:
— iearn.finance (@iearnfinance) February 22, 2020
Along with a suite of other notable names in the queue, it’s evident that things are beginning to heat up for one of the most talked-about DeFi products on the market.
Why Should I Care?
Let’s face it – DeFi is “deficult” to use
DeFiZap looks to be an intuitive solution for new users looking to access DeFi thanks to onboarding tools like their introductory survey.
Paired with improved front-end and features like advanced Zap Outs, pool Bridging, any ERC20 input, gas-less Zaps, insured Zaps and more – DeFiZap is en route to creating an end-to-end solution for DeFi composability.
Since crossing $1,000 in revenue, DeFiZap received the second half of it’s grant from MetaCartel – further displaying their ability to meet expectations in a timely manner.
If you or your project are interested in learning more about where DeFiZap fits within your schema, we recommend reaching out to their official Twitter.
In the meantime, we’ll be sure to keep an eye on the new exciting features coming out in the next few weeks!