In April of this year on DeFi.cx we talked about a beautiful website aimed at DeFi lovers, known as DeFiZap. Its main function was to simplify the use of different DeFi protocols in one screen in order to speed up the whole process and save on Fees. The following month, however, DeFiZap ceased its activity because it decided to join a bigger project, merging with DeFiSnap, thereby becoming Zapper!
As is well known, decentralized finance is often compared to Lego, given that all DeFi tools are modular, just like Lego Bricks. Multiple pieces can be used to create a bigger one, or as in this case projects that are already well underway can be combined to create an even bigger one. These mergers shouldn’t come as a surprise then, as they could become something normal once this niche sector receives the media attention it clearly deserves! So let’s learn more about Zapper and all its features!
What is Zapper?
Zapper, like Zerion or DeFiSaver, is a beautiful DeFi Dashboard that allows users to keep track of their DeFi portfolios in a very simple way. A dashboard that currently has more than 15,000 users, called Zappers, and which currently boasts more than 15 million dollars already invested through its platform. These numbers certainly include the funds already invested by DeFiZap and DeFiSnap since Zapper has only been available for 1 month. There are currently 19 DeFi platforms supported, some of which are only available in ‘view mode’ (i.e. there is only the possibility to check one’s balances) while others are already available for transacting.
Here is the complete list of DeFi platforms supported by Zapper at the moment: Uniswap, Curve, 1Inch Exchange and Balancer (these 4 are both view balances and transact). Then: Compound, Aave, Synthetix, Maker, dYdX, TokenSets, PoolTogether, Opyn, iEarn, RealT, RAY, Idle Finance, DeFiSaver, 0x and Fulcrum. Zapper also offers a contact form through which it is possible to request the addition of new DeFi protocols, reachable at this page. The questions to be answered in this form are 4, i.e. what is the name of the platform, what is its official website, why they should add this platform and additional feedback and/or comments.
Returning to the homepage of the Zapper website, there is a form where users can paste an ENS address, an ethereum address to check or a wallet to connect (MetaMask, Fortmatic, Portis, Opera, WalletConnect, Trezor, Torus or Authereum) to access the actual Dashboard. For those who want to test the website first, there is also an ENS address that can be used as Demo. From the main dashboard, it will be possible to check the total amount of assets and net worth, while since a few weeks, it is possible to play with the new Invest function. Essentially it is possible to add liquidity to the pools of Uniswap, Curve and Balancer in order to earn money from their fees. Although it may seem a complex thing, adding funds to the pools is really simple because it consists of a couple of clicks: choose the amount to invest, decide how to divide the funds (recommended 50% for the first token and 50% for the second token) and finally choose the amount of gas (average is good as a choice).
After the investment is made, the user will start earning money. It is possible to withdraw the investment or re-enter with a higher position.
Zapper also offers a useful function to monitor the transaction history of the wallet that can be sorted by protocol, event and so on. Finally, the transaction list can also be downloaded in CSV format for an even more accurate and ordered report. The dashboard has USD as the default Fiat currency, but this can be changed with 1 click and the choice of Fiat currencies is really wide. It is possible to choose EUR, GBP, AUD, CNY and dozens of other currencies. You can also use BTC or ETH. And let’s not forget the switch theme button that allows changing the dashboard design from white to black and vice versa. We’ll leave you to the official Twitter account for the project and recommend trying out Zapper now. You certainly won’t regret it!