Hey everyone, Iām Nodar and Iāve been a big fan of MetaCartel for a while now, decided I needed to show proof of contributions before posting an introduction here.
So in August I started writing DeFi Tutorials to highlight best opportunities & risks involved when using DeFi protocols. I realized many end-users want to see live tests of someone actually using these DeFi tools before putting in their own money behind it - a sort of a ātest-driveā.
After getting some incredible feedback, I hacked up DeFiStrategies which is a DeFi trading simulator - with no code using Glideapps. I love staying lean by using all available tools to get MVP out to early users asap and iterate from feedback - i think this is what our space is missing a lot of. Teams need to find market fits asap.
In DeFi Strategies simulator I was allowing end-users to pick out which positions they want to open up and some started thinking they would be able to execute strategies right from this app. Around same time, I found out about Kyberās DeFi Hackathon and since i needed help with smart contracts I reached out for help on their discord.
Dipesh responded and we immediately clicked, i believe because we both have accounting backgrounds. DeFiZap was born.
DeFiZap deploys capital across multiple DeFi protocols in a single transaction. What does this mean? You open positions on several platforms with different opportunities. For example: you could long ETH with 2x leverage on Fulcrum and supply liquidity on Compound with a single click.
Doing this in one go helps you save time + gas. Itās important to note: when you place trades or supply liquidity using these DeFi platforms, you get back liquidity/position tracking tokens. DeFiZap doesnāt spread your money into ātop 10 coinmarketcapā - Zaps infuse capital into DeFi.
As it stands now, Zaps essentially spit back balance tracking tokens which are minted from different DeFi platforms. These allocation %s are pre-defined and Zap contracts never hold usersā funds. But you could imagine users will be able to customize Zaps.
Currently we are looking for feedback to help us refine our vision while listening to the community and creating Zaps to fill real use cases. We have 5 zaps live now and are currently finalizing our first integration with Pools.fyi
Sneak peak: you will get to one-click enter 1 or multiple Uniswap pools using just ETH, abstracting the whole need to obtain erc20 tokens to match your eth. So for example, you deposit ETH, half goes to buying MKR and after ETH+MKR are added to the MKR uniswap pool - you get back Uniswap liquidity tracking tokens. This cuts off a lot of Metamask interactions for end users. To start Pools.fyi will have a āget in a poolā button next to Uniswap pools. Next we will work on, exit a pool in one go. This is super nice from ROI perspective because as end-user I am able to clearly see how much ETH i entered into a pool with and how much i ended up getting back after exit.
Some thoughts (this is where we would love feedback):
-Zaps (including create your own which we will enable soon) are always free. They help anyone get in/out/between positions on DeFi platforms in one go.
-Developers providing unique UI experiences (such as pools.fyi) can integrate these Zaps and charge a fee on top if they want.
-Eventually we will deploy dynamic zaps which users can get into if they choose and these zaps optimize positions themselves. At this point, again if the end user chooses to enter through this dynamic zap (at which point we mint balance tracking token for that zap), a small exit fee is charged when users redeem their tokens (to close out positions). This fee goes to DeFiZap DAO and is used to support and further develop DeFiZap.
I want to keep building DeFiZap, publishing DeFiTutorials (which im in the process of open-sourcing through Gitbook - currently 500+ readers) and pushing no-code movement through no-code tutorials. This will enable a lot more people who donāt necessarily have strong coding skills, to be able to easily create MVPs to test their ideas. This will ultimately help get to product market fit faster + without wasting a lot of resources.
Looking forward to your feedback and meeting you all IRL one day! Iām located in Brooklyn.