Defi Saver, a Popular Ethereum Defi Management App, Expands to Arbitrage and Optimism
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DeFi Saver, a leading application for creating, managing and tracking DeFi positions on Ethereum, today announced the long-awaited launch on two major Layer 2 networks, Arbitrum and Optimism.
Reduced transaction costs
Live since 2019 on the Ethereum mainnet, DeFi Saver provided innovative DeFi asset management features and continuously expanding support for major DeFi protocols with the goal of making complex DeFi interactions easier and more accessible to the average user.
Expanding to Layer 2 networks leads to significantly lower transaction fees, which has become a growing problem for the Ethereum DeFi ecosystem. While the app first went live at a time when network congestion on Ethereum was not a thing, the growing number of users over the past few years has made the app inaccessible for a number growing number of people, what the team
is very keen to rectify.
Nenad, the co-founder of DeFi Saver, said:
“We are excited to bring two of the most popular bullish deployment networks currently live on Ethereum, and we look forward to bringing our leverage management and automated liquidation protection features to a much more accessible environment. .”
With today’s release, DeFi Saver brings its app signing capabilities for the Aave v3 protocol to users on the Optimism and Arbitrum network. The advanced dashboard supports the Aave protocol since v1 on the Ethereum mainnet. Aave fans will be able to count on the DeFi Saver signature Boost and Repay features, which allow assets to be leveraged in a single transaction, now with significantly lower fees.
The Aave Protocol is a noncustodial money market protocol where users can lend or deposit their assets, borrow against their collateral, and create leveraged market positions. The Aave V3 release presents Aave’s most ambitious attempt to solve part of the DeFi space and the weak points of the protocol. Better capital efficiency, better risk management, cross-chain interactions, and gas optimizations as part of the Layer 2 expansion are some of the most significant improvements in the new release.
The launch of DeFi Saver on these networks is based on the same modular architecture that the team deployed on the mainnet in early 2021, with the release of Recipe Creator. Users can also expect the DeFi transaction creation UI to appear on Layer 2 networks very soon, as the number of built-in protocols increases.
Users who have not moved any assets to Arbitrum or Optimism so far will also be pleased to find a new Bridge dashboard in the app. LI.FI, a DEX (decentralized exchange) bridge and aggregation protocol, powers the new bridging features, ensuring that all users get the best rates when doing any of their bridging activities. The team is also looking to enable bridging of entire posts in the coming months, although there is currently no ETA for this feature.
Work is also already underway to provide automation features for DeFi on Arbitrum and Optimism, including automated liquidation protection for Aave v3 users. However, the greatly reduced transaction fees on Layer 2 networks also allow experimentation with new options. So you can expect to see new automated features like limit orders or automated DCA strategies in the coming months as well.
Going forward, the team plans to continue expanding support on Layer 2 networks with more protocols, including native Layer 2 protocols, as well as traditionally supported protocols such as MakerDAO and Compound. , as these also become available on Layer 2 networks. Users can also expect to see a Layer 2-focused Smart Savings Dashboard in the coming months, providing simplified, aggregated access to yield farming options.
As a reminder, Layer 2 networks aim to inherit the security of Ethereum by design while providing additional throughput and much lower transaction costs. Of the two types of cumulative networks currently in development, optimistic and zero-knowledge cumulatives, Arbitrum and Optimism are the two main optimistic cumulative networks equivalent to EVM in terms of activity and TVL at present.
DeFi Saver is an all-in-one dashboard to create, manage, and track your DeFi positions with auto-liquidation protection and leverage management options. So far the application
saved thousands of users from liquidation and helped users manage over 100,000 trades and over $6 billion in trading volume.
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