🎁Gift the power of DeFi this holiday season.🎁
User adoption starts with you!
|Dec 24, 2019|| 1|
In the spirit of the holidays, we’re happy to introduce Zap Gifting⚡️🎁 - giving you the ability to send any Zap to any Ethereum wallet.
What does this mean? Before Zaps automatically minted liquidity tracking tokens to the address form which funds were sent, this new feature allows you to input a different destination address.
🦄 Make your friends Liquidity Providers on Uniswap and show them how Automated Marketing Making works under the hood.
💰 Show them the power of compounding interest through platforms like Compound or Fulcrum.
🎓 Help your friends understand the difference between lending, pooling, and staking as they experience DeFi platforms first hand.
User adoption starts with you! Here’s how it works:
Just like our normal Zaps, users come in and select the Zap of their choice. We’ll take your ETH (and soon DAI) and break it down into its various components. For more detailed explanations on how any particular Zap works, you can check out our tutorials here.
Click “Gift This Zap” and enter Ethereum address that will receive Zap’s proceeds.
You just gave your friends instant access to DeFi.
NOTE: When using DeFiZap, you mint & receive the same liquidity/position tracking tokens as when separately using Uniswap, Compound, bZx, Synthetix, etc. on your own. So when you send a Zap, your friends receive these SAME EXACT LIQUIDITY/POSITION TRACKING TOKENS to their wallet.
In order for you to gift someone a Zap, they must have a unique Ethereum address. It’s important to note that exchange wallets DO NOT currently support most Zap components, meaning that we’d recommend that they are using something like MetaMask.
For gift recipients who are new to Ethereum, we recommend showing them this tutorial to set up their first MetaMask wallet.
What’s the Goal?
From day one, we’ve wanted to make DeFi as accessible as possible. The ability to gift Zaps is a step in the right direction for helping new users understand how Decentralized Platforms are different.
We’ve also integrated ENS capabilities to allow users to get into Uniswap pools simply by sending ETH to human-readable addresses. In practice, users access interesting opportunities in DeFi directly from their Ethereum wallet. Just input an address like “MKRUnipool.DeFiZap.eth”, tweak the gas limit to 1,500,000 and boom! You’re now MKR/ETH Pool Liquidity Provider on Uniswap.
In the future, we plan on further enhancing the on-boarding experience with more Venmo-like tools to make the process as friendly and digestible as possible. Paired with the ability to customize your own Zaps, we ultimately aim to allow our users to create the most valuable DeFi combinations possible.
In the meantime, be sure to stay up to date with all things DeFiZap via our new Twitter account.
Huge thank you to Cooper Turley from DeFi Rate for helping us write up this post and our recent content! 💌
Disclosure: As usual this is not investment advice. Please consult your own independent investment advisor before making any investment decisions.