Zapper Fi reviews and Guide will be described in this article. Zapper ReviewThe world of decentralized finance is exciting, although its main problem is that it can sometimes be very complex to manage so many different protocols, blockchains and platforms.
If you want to start investing in cryptocurrencies, we recommend that you start buying your first tokens on Coinbase. If you deposit 100 euros by registering on OUR LINK, you will earn an additional 10 euros!
What is Zapper.fi?
Zapper is a decentralized finance (DeFi) tool that lets you monitor and control your entire portfolio; assets, debt, liquidity pools, yield farming and even NFTs, all from one platform and anonymity.
So the primary objective by Zapper is to bring some simplicity to the blockchain world, reducing the time, cost and effort required to manage so many different positions.
How was born?
Zapping is a project resulting from the union of 2 projects DeFi: DeFiZap and DeFiSnap.
On the one hand, great opportunities lie in DeFiZap has allowed users to invest across multiple platforms with just a few clicks, such as Uniswap’s liquidity pools.
On the other hand, DeFiSnap had a control panel to control our cryptocurrency positions invested in a large number of DeFi protocols, such as Compound, dYdX or Synthetix to name a few.
As you can see, both projects were trying to make DeFi investing much easier and more accessible, and the two projects fit together very well.
While DeFiZap was used to invest in various platforms from a single interface, DeFiSnap was used to control these positions.
For this reason, in May 2020, they came together to create Zapper, one of the most promising DeFi projects in recent years.
How to use it What is it for?
If you are interested in this type of investment, I’m sure you will want to know how this platform is used, right?
The foremost thing you ought to know is that you do not need to create an account to use Zapper, all you need is a ethereum wallet to connect to their protocol.
Some of these wallets are: Dappradar, Ledger, Trezor, Wallet Connect, Fortmatic, Portis…
To connect to Zapper, all you have to do is go to their website and click on the button “Connect Wallet”.
Then your wallet interface will appear or Zapper will show you the steps to connect your wallet.
Once you access it, you will be in front of the main panel of Zapper, where you can see a small summary of your portfolio and you will have all the options of the platform at your fingertips.
In the left menu you can see the functions of Zapper, which from top to bottom are:
In the “Exchange” tab, you can perform cryptocurrency exchanges. Additionally, Zapper not only uses the Ethereum blockchain, but also works with the following blockchains:
- Binance Smart Chain (BSC)
- This way, you can trade up to 2 different tokens from a single platform.
This is one of Zapper’s coolest features, and as the name suggests, it serves as a gateway between 2 different blockchains.
The reason? Under normal conditions, you would not be able to exchange a token from the Ethereum network for one from the network, for example from Polygon (in one step).
In Zapper, you can do this through its Zaps. Zaps are DeFi “shortcuts” that generate smart contracts that traverse protocols so you can access more investment opportunities, faster, and pay fewer fees.
- In “Pool” , you will find a large number of liquidity pools in which you can deposit your tokens and cryptocurrencies, either to obtain the right to vote in the protocols, or to obtain commissions or any other incentive.
- In addition, and since Zapper is a platform that supports several blockchains, you can access a particularly large and diversified catalog of pools.
- Moreover, adding liquidity to any of these pools in Zapper is quite simple, since you just need to click on “Invest” and enter the cryptocurrencies you wish to deposit.
The “Save” section gives you the possibility to deposit your crypto-currencies and earn interest on them.
But where do these interests come from? Contrary to what it may seem, this is not about staking, but about DeFi loans.
This way, by locking up your cryptocurrencies here, you will become part of the P2P blockchain lending market, passively earning interest with your cryptocurrencies.
The “Farm” feature is located in the “More” sub-menu, and there you will find investment options in yield farming.
As with liquidity pools, there are a large number of farms, especially since Zapper works with multiple blockchains.
It is therefore a good way to find a farm with an interesting risk/benefit ratio and to invest part of your portfolio there.
Zapper safes are similar to liquidity pools, although instead of depositing your funds in a pool and they remain static, by depositing them in a vault, these funds have some mobility between protocols to maximize the benefit of the investor.
So your cryptocurrencies can range from Aave to Compound and from there to Rari, all to deliver the highest possible yield at all times.
In short, as you have seen, the main use of Zapper is to collect hundreds of investment opportunities in a single control panel, making your stay in the DeFi world much more comfortable and bearable.
Pros and cons
Zapper is a very interesting DeFi platform, but like all platforms, it has certain strengths and weaknesses.
Its main advantages are:
He is very easy to use, both when logging in with your wallet, and when moving around the platform, accessing the various features available to it.
It supports multiple blockchains, which makes Zapper a very versatile DeFi project, allowing them to work with many different platforms and tokens.
In addition to providing a platform to control your cryptocurrencies and the myriad things you can do with them, you can also control your NFTs.
They have an excellent team of developers who are constantly adding features and protocols to the platform, making Zapper a more complete platform every time.
And its disadvantages:
Many of the operations performed on Zapper use smart contracts to be able to connect 2 different protocols or platforms. And while these contracts are quite secure, they can sometimes generate bugs or cause problems.
In short, Zapper is a platform that serves as a “meeting point” for a large number of different protocols and platforms.
Thus, they manage to reduce the time it takes to invest and control your assets, while managing to reduce commissions and operating gas thanks to their Zaps.
One of the things I liked the most about Zapper is its ease of use, the large number of blockchains and tokens they work with, and how quickly they are improving their platform.
And it seems that I’m not the only one, because they currently have over one million users and over $11 trillion has been invested through their platform.
Therefore, I believe that if they continue on this path, Zapper will be one of the leading DeFi investment platforms in the years to come.