Learn how to get instant access to sETH+sBTC Synths.
|Nov 6||Public post|| 2|
What does Moderate Bull Zap do?
Your deposit is automatically allocated 50% to sBTC and 50% to sETH Synths which represent BTC and ETH long positions on Synthetix’s protocol.
For example, if you send 1 ETH to ModerateBull.DeFiZap.Eth:
0.5 of your ETH will be used to long BTC by purchasing sBTC on Synthetix exchange.
0.5 ETH will be converted to sETH, which will allow you to trade on Synthetix’s exchange.
Walk-through tutorial depositing 1 ETH to Moderate Zap:
Navigate to https://defizap.com/zaps/moderatebull
Click buy and enter your investment amount.
*When your wallet’s notification comes up, double check to make sure you are sending your intended amount. Click confirm when you are ready.
Wait for your transaction to clear. You can follow progress on etherscan. Here’s my transaction: https://etherscan.io/tx/0x7a3704f43c44eaa11039ffb0f03c4658ea737f392e84f1e0d8983de5d3e9f5b5 *NOTE: etherscan will show you a warning error. Please do not worry, that is just an internal check error that does not impact the transaction and you will receive the necessary sBTC and sETH in your wallet without any issues.*
Moderate Bull Zap smart contract address was registered with the Ethereum Name Service under ModerateBull.DeFiZap.eth so that accessing Synths is as easy as sending a text. Just make sure to set your Gas Limit to 1,000,000@1 GWEI before sending your transaction.
Why use Moderate Bull Zap as opposed to purchasing Synths yourself?
🕒You can go from ETH -> sETH+sBTC in a single transaction as opposed to 3 (ETH->sUSD, sUSD->sETH, sUSD->sBTC).
⛽️$0.15 - average gas cost to go from ETH->sETH+sBTC using DeFiZap.
You can review all transactions here.
What happens after you deposit ETH to Moderate Bull Zap?
After sending your deposit, you will immediately receive allocated Synths (sBTC+sETH), Moderate Bull Zap Smart Contract never holds your funds.
Soon you will will be able to manage your purchased Synths right from DeFiZap Dashboard but for now you can visit Synthetix.Exchange to view balances and trade your Synths.
Check out this tutorial to help you understand how Synthetix works.
DeFiZap is an experimental system of smart contracts. Even though our smart contracts never hold your funds, you should always use caution. You can view all smart contract source code on our Github. We are currently in the process of performing a 3rd party security audit.
⚡️Which Synths would you to see in our next Zap?
Submit a request and we will create a custom Zap for your needs.
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Disclosure: This is not investment advice. Please consult your own independent investment advisor before making any investment decisions.