If any of the following sound like you:
Complaining about the price of gas like a boomer
Wrist and finger RSI from throwing too many games in LoL
Throwing life savings like a degen into liquidity pools
Having a nice dashboard to flex your sexy gains
Then read on.
You're going to love Zapper.fi.
Yap, Yapper, Yappening are all terms by everyone's favorite blue Kirby. But what exactly does it mean?
It's basically using Zapper dashboard as a frontend for executing investments and withdrawals on Yearn's backend. For the ones that still ride bikes with training wheels.
To really appreciate Zapper, I'm going to show you the hard way of depositing into the Y Curve Vault.
First, you have to obtain yCRV - stablecoins deposited into the Y pool on Curve.fi.
If you don't have stablecoins - use Uniswap or something. I know your brain cells can figure at least that out.
So go to the website and make sure you've gone to the Y pool.
You should then see something like this. Make sure you're under the "Deposit" section.
Now I've already deposited my life savings like a true YFI degen.
But you guys are yield farmers - you know how to click "Max," then "Deposit," and then confirming the transaction through Metamask or whatever you're using right?
Once that is done, you'll receive yCRV tokens. These tokens are now earning you a share of the fees that go to liquidity providers.
At any time you can check how much $ you've made by going to https://www.curve.fi/iearn/profit.
But not really, since we'll now be depositing these tokens into the Vault.
Now head on over to https://yearn.finance/vaults.
Lots of tasty flavors and options but the one we're looking at is "curve.fi/y LP."
Your balance should automatically populate with however many tokens you received in the last step.
Tough to miss considering it's triple digit APY.
Click the drop-down arrow, select amount you want to deposit (any answer besides 100% is wrong), and then hit deposit.
(Like you guys are used to modern UI theory right? Do I have to explain this?)
Approve that transaction, and there you go! All done.
While the hard way isn't particularly hard, it is a bit time consuming and the gas fees begin to pile up.
For the slightly wiser degen's building into a position on a weekly/monthly basis the time and gas spent start to take a toll.
Let's see how many transactions this would be - assuming you're starting with ETH.
ETH > DAI/whatever stablecoin via Uniswap or similar
If first time, approving spending contract for Curve.
Depositing DAI onto the Y Curve pool.
Approving spending for Yearn Vault
At time of writing (8/24/20), gas fees have come a bit down to the 60 gwei range but a few days ago were 200+. That's easily $20+ at each stop.
$20 * 5 = $100, which makes transactions smaller than $5000 a real drag on performance and ROI.
Time to show you how easy and how much cheaper it is to do it via Zapper.Fi!
First, go to the website and either insert your ETH address or connect your wallet.
You're now greeted with a dashboard, showing you're total assets, as well as different sections to invest further capital, check out other protocols, and see a list of transactions.
Further down the page, you'll see pretty graphs displaying how much of total capital is deployed into each area, if you're into risk management and stuff.
(So basically, you don't need to look)
Head on over to the "Invest" section, and then click the purple Invest button.
My screenshot may look a little bit different than yours as I've already deposited capital.
Zapper gives lots of options to invest outside of Yearn so first select yEarn:
And then select whichever vault you want to deploy capital into. To keep the example consistent, select "Y Curve Vault."
NOW go back to the top option, and choose any of the supported assets and then click the "MAX" button for 10% more gains.
(It's a joke but full send)
Click confirm, and approve the transaction.
Told you it was easy.
No having to deposit XYZ to yCRV then to deposit into the vault.
Literally have some form of internet money, and click invest.
Zapper does the rest.
Zapper on your behalf will:
Convert your deposited asset into an accepted asset for the Curve Y pool (if need be)
Deposit asset into to the Y pool
Take yCRV tokens and deposit them into Vault.
With one transaction.
Even when depositing into the yaLINK Vault - same thing.
Deposit your ETH, DAI, USDC, or Link.
Zapper than converts to Link, deposits on AAVE, and then deposits to the vault for you.
As further products encourage new layers (like yInsurance), Zapper will prove to be even more useful and cost saving.
Like seriously - start using Zapper today.