Reading time: ~2 m
Decentralized exchange Symbiosis has added ZAP technology that automates the receipt LP-tokens from pools. ZAP works with pools of Symbiosis and popular DeFi protocols: Aave and Cream.
ZAP automatically converts the owner’s funds into the necessary coins and deposits them into the pools. The user pays transaction fees in the original cryptocurrency.
For example, to get LP tokens of the USDC (BOBA Network)/sUSDC (Ethereum) pool for USDT ERC-20, you will need:
- Exchange USDT for USDC and sUSDC.
- Buy BOBA to pay commissions in BOBA Network.
- Add all tokens to the pool.
ZAP simplifies this process to a single step: the user selects the asset and destination pool, confirms the transaction, and receives LP tokens.
The exchange of USDT for LP USDC-sUSDC looks like a regular token swap.
At the time of publication, ZAP supports the introduction of liquidity into pools with stablecoins on Ethereum, Avalanche, BNB Chain, Polygon and BOBA Network. The Symbiosis team plans to add more pools, primarily Aave and CREAM.
ZAP will be included in the SDK so that platform partners can use it in their products.
Symbiosis is a multi-domain DEX for EVM-compliant blockchains and L2 Ethereum solutions. The team plans to add support for NEAR Protocol and DeFi on it in the near future. The amount of funds in the pools exceeds $ 8 million.
Earlier, Symbiosis announced integration with the 1inch aggregator.
#Symbiosis #introduced #tool #automatically #adding #liquidity #pools #DeFiprotocols