DeFi Buffet On Mobile with DeFi Zap

DeFi Buffet On Mobile with DeFi Zap

Andy Boyan
on Mar 03, 2020

The DeFi revolution is underway. More people are putting their DAI to work for them at good return rates instead of banks' low and slow offerings. But getting familiar with the growing number of DeFi options and deciding when to be in what pool or savings protocol is time consuming and can easily start racking up network gas fees.

DeFi Zap is a one-stop DeFi onramp for a ton of popular DeFi protocols, so you can set up your wallet and 'zap in' to  various DeFi products fast. Think of it as a DeFi buffet. Grab your plate and load up on what's appealing to you and will fit your diet. Does that buffet-grade sushi look too risky for you? Skip it and stick with the mac n' cheese and soft serve. Except now swap the food for decentralized financial products.

The problem DeFi Zap is trying to solve is the issue with juggling across DeFi products with different risks. They're aggregating these positions and labeling them to give more context to what the positions are, and how someone might expect them to perform.

Some of the labeling they use to give that context:

  • Pooling rewards: Earning transaction fees when you allow your funds to be used in liquidity pools on protocols like Uniswap
  • Staking rewards: Rewards from Synthetix to stake their synthetic asset liquidity pools.
  • Lending rewards: Interest generated from lending assets on Compound.
  • DSR Rewards: The DAI Savings Rate
  • Long positions with leverage: Holding an asset (long) and adding more of the asset by borrowing from lenders in order to earn more on the price increase if the price rises (leverage).
  • Short positions: Lending an asset at a specific price while expecting it to go down, then collecting on the loan plus the difference between the prices. A position for when one expects a price to drop.
  • Synthetic assets: Trading placeholder digital assets without holding the assets (such as gold, stock shares, or crypto)

At Status, we're excited about accessing this incredible range of live DeFi options right now on mobile. The Status App is configured to use as the dapp explorer, which naturally connects dapps like DeFi Zap to the Status App wallet.

Mobile DeFi takes financial sovereignty further into the future. Not only can you be the master of your own money, but of your own portfolio. It's up to you to set up your risk profile to capitalize on risky positions and hedge with safer ones. You do your own research, you do your own testing, you build your own portfolio based on your own comfort level, and you reap the rewards.

And it's not just you. The Status Network's mission is to bring private secure communication and decentralized finance to communities that need it most. For example, communities under the thumb of oppressive governments that spy through apps and conduct warfare with their military and currency. We're building to give communities like this a chance to set their own financial priorities and build their own ecosystems.

DeFi Zap has a lot to choose from at the buffet. The best way to get started is to take a look through the dishes and get a feel for what options there are. Grab the Status App and join in the DeFi Zap chat channel #defizap-com, and start learning about the incredible variety of options DeFi can be.

Install Status >>

Check out these DeFi Dapps >>

*Disclaimer - This article was written for your entertainment, and the content is for informational purposes only. You should not construe any such information or other material as investment, financial, or other advice. Using decentralized financial tools does not come without risks and using Status is simply a portal to these tools - Status does not mitigate associated risks of said products.

Andy Boyan
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