In real life, we all wish to have a single action to finish all tasks.
One smartphone today can control almost all of furnitures in the house. How is this amazing ? Before this lazy era, we had to walk around our house, turn on/off the lights, turn on the a/c, feed pets, or even boil the water ourselves ! Good old time, I still remember my parents boiled the water when I were young.
Tech company found a way for users to use their product with the same posture, you can sit on beloved couch with your cats and control anything with a tip of finger, or even your voice.
Surprisingly, the product has gained a mass adoption within a decade.
- Smart Phone
- Remote
- Car Key
- Etc.
Alexa, read this article
How about DeFi ?
Do you remember when you first used DEX ? First Yield in your life time ?
If not, let this old man reminds you,
Let say you only had GLMR in your wallet, you would need to calculate another asset equally to make a pair, then Swap. Ooooff, you calculated wrong, b/c you got C in math!
<Swap again> to make both side equal. Congrats! You are now have a pair to stake, but waste some gas and time in the way. You could gain a juicy APR/APY early when the pair just launched, missed little yield opportunity.
Can dev do something ? I wish a tool that helps me calculate another asset to make a pair automatically without me calculate it myself b/c I am totally bad at math.
And… Dev has listened to your proposal.
Zap Function
Let’s be honest, if your daily used DEX does not have this function, with my laziness and stupidity in math, it is not much users-friendly. But with DEX like StellaSwap, users can have an asset put the amount they would like to make a pair then Zap⚡️. Auto calculate it to a pair, all users need to do later is to stake, pretty easily and convenient !
Then.. I use Lending Platform like Aave to deposit AVAX but the market is too volatile, I would like to swap it immediately. But the process will be Withdraw AVAX on Aave → Swap on UniSwap, Curve to StableCoin → Deposit again on Aave
Is it too long ?
Absolutely, the process is very long and frustrating.
Swap Function on Lending
On Aave, users can swap deposited asset to another one pretty easily.
GEEEEZ, someone just dumped their AVAX and I have it on Aave.
Swap AVAX → USDC
Aave can achieve this b/c it has DEXes built as backend such as Curve and UniSwap to make users more convenient. To make this function happened, they need huge liquidity .
Bridging to another network with out swapping to available assets on the bridge. Sometimes, you are holding an asset which is not supported by the bridge.
ex. I would like to use MOVR, but I can’t due to the another side does not have ASTR liquidity to swap.
Auto Swap Bridging
The function is introduced by XY Finance (like ThorChain). The dApp will automatically convert your inserted asset into another one, then find the available bridge, swap to available DEX to the outcome asset you input on the network.
Loop Function
Introduced by Starlay Finance. When users use Lending platform, they often use it to lend and borrow the same asset repeatedly to hedge their position. With Makai the killing feature of Starlay, one click to loop the asset up to 5x up to the specific assets.
For more info of Explanation,
I would encourage you to check my medium which included spreadsheet to calculate your Makai position before entering.
https://medium.com/@panupongpnp/explain-me-like-i-am-5-makai-4cbf16451645
Bottomline :
As always, thanks for reading.
It is always excited to dev shipping new features but with the reason it is still new and mostly in experiment stage, so please be careful. There is a risks in interacting with DEX, it could be smart contract risk, 2 layers risks like Aave that require another dApp to make Swap function happen.
Nevertheless, one click function is inevitable for mass adoption.
