As the reach of blockchain technology gained momentum, multiple blockchain platforms have emerged with a wide array of services and products. However, only a few of these platforms have the technology to offer customers a unique experience and make them stand out.
DeFi Saver is one such platform that offers a one-stop asset management tool for a range of decentralized financial protocols and applications on Ethereum.
What is DeFi Saver?
DeFi Saving It is an application that integrates multiple lending protocols and provides users with advanced management features and options that enable them to handle complex tasks in a single operation. The platform is an asset management application for decentralized finance (DeFi) protocols focused on creating, managing and monitoring any position.
Historically, DeFi Saver has been used for borrowing, utility and yield farming with users choosing different integrated loan protocols according to their preferences.
For example, a user who wants long ETH or BTC comes to DeFi Saver and creates a leveraged collateralized position in MakerDAO, Aave or Liquity (or any integrated protocol) hoping the market will rise. Using the advanced dashboard, the user deposits ETH as collateral and borrows stablecoins, then exchanges stablecoins for more ETH in a single transaction and deposits additional ETH as collateral.
In this way, the user can easily collect profits when the value of ETH rises and closes the position with the ETH that was collateralized in the first trade, so he can exit with a higher amount of ETH compared to the one originally entered.
In 2019, the famous application pioneered automated options for decentralized finance with the release of DFS Automation, a signature automated leverage management system. Originally released only for MakerDAO, DeFi Saver expanded its service to Compound and Aave the following year. A big technical update in 2020 This introduced the use of flash credits for leverage management alongside continuous optimizations for reduced gas usage and more.
The flagship service is a unique, unattended, reliable system for automatic liquidation protection and leverage management of DeFi positions. Users can enter their desired collateral and debt ratio and Automation takes care of the rest. It actively monitors debt positions and automatically increases or decreases leverage when the price of the underlying collateral changes, increases user exposure in favorable market conditions, or prevents upside liquidation and loss of funds. To automatically pay off the debt, the app sells a portion of the collateral to reduce risk or buys more depending on the rate provided.
This year, the platform launched automatic liquidation protection using funds on yield farms and first automated strategies With yield farming protocols such as MakerDAO, mStable or Yearn and other protocols that are then integrated into the Smart Savings dashboard.
Compared to the historically popular liquidation protections through automatic refunds, there is no sale of collateral here. As soon as the set threshold is reached, stable assets available to any of the listed protocols can be withdrawn and used to repay a portion of the debt and prevent automatic liquidation without any additional input from users.
DeFi Saver also introduced an overhauled automation hub that gives users quick access to all available automated strategies for their location, as well as a better overview of currently active strategies. To ensure top-notch security, all new automation smart contracts are fully audited by Dedaub, the platform’s ongoing partners and rising stars on the smart contracts security scene.
Stop loss for liquidity treasures
A unique feature offered by the platform is the automatic stop loss and take profit options, where the user can set a target ETH price threshold in both market directions, at which point their positions are automatically closed by a reliable, unattended system. Published for now ConstructorDAO and Liquidity protocolsThese automated strategies offer users traditional trading options developed entirely on-chain in the spirit of DeFi.
DeFi Saver’s continued support for the Liquidity protocol started right after launch Decentralized protocol, famous for the release of a special advanced management dashboard, where all the actions of Liquidity and its own advanced features are at the disposal of the user.
They have provided users with signature Boost and Repay 1-tx leverage features, along with other unique options such as the switch from MakerDAO to Liquidity 1-tx credits for anyone who wants to avoid Maker’s constant Stability fees.
The platform then took Liquity support a step further with the introduction of automatic liquidation protection for Liquity Troves, a global first for the growing Liquity ecosystem.
Here’s a quick overview of what the stop loss or take profit strategy for Liquidy looks like in the background:
Here, the user sets a price threshold and activates the strategy for his Treasure, then the system constantly monitors the Treasury and sends a transaction to cancel the position as soon as the price threshold is exceeded.
The UI will underline that this approach completely closes his location to ETH when the user tries to install it.
This is a unique yet simple feature developed by the platform to give users quick access to the best lending rates on DeFi protocols. Here several protocols are integrated and presented in a single dashboard. To use Smart saving feature Users can track the best APY, predict their earnings and withdraw stablecoin assets with minimal risk.
This is the simplest, yet safest and most reliable way for users to earn interest on their digital assets. Users looking for a stable APY can use this feature to provision their stablecoin assets to Yearn or mStable and move them between these protocols for the best APY available.
The DeFi Saver team plans to add more yield protocols and options in the future, so if you’re looking for a stable APY, check the updated product from time to time.
Loan Shifter is a powerful and easy-to-use refinancing tool for protocols. It provides an instant and simple way to change the collateral or debt asset and switch between protocols with just a few clicks.
Loan Shifter offers a direct and convenient interface for users to:
- Switch to a different protocol
- Modify collateral assets
- Changing a debt asset
Simulation mode allows users to check all available features and test different pre-made recipes or even create completely new recipes without worrying about gas charges. If any of the protocol features confuse the user, turning this feature on simulates any action on the mainnet’s private fork with the help of a platform called Tenderly.
With unique innovations like the recipe creator, An interface that allows anyone to create countless combinations of various interactions with multiple DeFi protocols, the platform seeks to push the boundaries of DeFi to wider audiences and compete with traditional finance in any way that DeFi has become an attractive alternative.
DeFi Saver is working to improve its flagship feature, Automation, by allowing users to create custom triggers that work in conjunction with recipes and strategies, allowing them to choose what they want to do in DeFi without having to constantly monitor graphics and screens.
Finally, and perhaps most importantly to the wider audience, DeFi Saver has recently Launched on Tier 2 networks Arbitrum and Optimismprovides its services for significantly lower transaction fees. Initial L2 launch includes Aave v3 support with all advanced DeFi Saver features and bridging options using LI.FI, their seamless Exchange, and convenient Simulation Mode to test the new L2 environment before committing to real funds.
For more information about DeFi Saver, visit their website. official website.
Disclaimer: This is a paid post and should not be considered news/advice.