Discover more from DeFi Tutorials

Walk-through guides using popular DeFi instruments to highlight some of the best use-cases & risks involved. Have a hard time keeping track of all your DeFi positions? Zapper.fi is the ultimate hub to learn, access & manage your assets & liabilities.

Over 3,000 subscribers

Lender DeFiZap Walk-through Tutorial.

Deploy your capital across Compound + bZx in one transaction, saving time & gas fees.

Nodar ⚡️

Nov 1, 2019

IMPORTANT UPDATE: Multi-collateral DAI is live! Read more here. Keep in mind this Zap is using legacy DAI (SAI).

What does Lender Zap do?

Allocates incoming deposits 90% to cSAI (legacy DAI) and 10% to dLETH2x.

For example, if you send 1 ETH to Lender.DeFiZap.eth, you will receive 0.9 ETH's worth of cSAI and place a 2X margin trade with 0.1 ETH on Fulcrum (giving you exposure to 0.2 ETH).

Lender's Zap is interesting because, within a year, the interest generated from cSAI could completely cover your margin trade purchase. Think of it as trading with your future interest earned.

DeFiZap.com UI Walk-through:

STEP 1: Visit https://defizap.com/zaps/lender and click ⚡️USE THIS ZAP

STEP 2: Select your desired buy amount, confirm with Metamask signature and wait for the transaction to settle.
Here is my transaction: https://etherscan.io/tx/0xa4e765b0c8a4f62613baa2546d8b3788c933a56409733d98176ffb1a2471f14a

What happens after you deposit ETH to Lender Zap?

After sending your ETH, you will immediately receive allocated tokens (cSAI+dLETH2x) which track your SAI lending balance + margin trade position.

It’s important to note: when you use DeFiZap, you mint & receive the same liquidity/position tracking tokens as when separately using Uniswap, Compound, bZx, Synthetix, etc. on your own.

DeFiZap doesn’t spread your money into 'top 10 on coinmarketcap' - Zaps infuse capital into DeFi protocols built on top of Ethereum, furthering user adoption.

We do not charge any fees, all Zaps are free to use and we don’t control or hold any users funds. If you want to, as someone providing great UI for your end users, you could charge a fee, again that is up to you. Hit us up if you are interested in doing that on discord: https://discord.gg/FjDj3Xf

Check out this tutorial to help you use Fulcrum and this one if you need help with Compound.

Why use Lender Zap as opposed to interacting with Compound and Fulcrum on your own?

⛽️Save gas.

Average transaction cost to go from ETH->cSAI+dLETH2x through Lender Zap=$0.85
Average tested transaction cost to go from ETH->cSAI+dLETH2x yourself= $2.50

You can review all transactions here.

🕒Save time.

Lender Zap gets you from ETH->cSAI+dLETH2x in a single transaction.
Amount of interactions with Metamask when attaining the same result on your own: 4 (ETH->WETH, WETH->SAI, SAI->cSAI, ETH->dLETH2x)

ENS INSTRUCTIONS:

Lender Zap smart contract has been registered with the Ethereum Name Service under Lender.DeFiZap.eth so that adding liquidity on Uniswap is as easy as sending a text.