DeFi Saveris an all in one, management app for decentralized finance. Supporting multiple protocols including the likes of Maker, Compound, Aave, and Reflexer. With Defi Saver you can manage leverage, convert positions, and earn conveniently.
In this DeFi Saver review, we’ll take a look at what DeFi Saver is, plus the features and fees.
What is DeFi Saver?
Defi Saver is an all in one, management app for decentralized finance. Supporting popular Ethereum based dApps including the likes of Maker, Compound, Aave and Reflexer.
Launched in 2019, the protocol was originally named CDP saver and has since expanded their services to other protocols, and adding additional tools and solutions to their users. DeFi Saver allows users to easily manage their DeFi portfolio with advanced features that are made simple.
One of their best-known features is their leverage management tools. Allowing users to manage leverage positions which you can increase or pay back debt within 1 transaction. However, you can also loan shift and use refinancing tools to move your position to a different protocol or change your collateral or debt asset. Plus, earn interest with the Smart Savings dashboard, allowing users to move funds between different available protocols.
However, Automation is DeFi Saver’s flag ship product, essentially providing automatic leveraging and liquidation protection depending on the market movements.
DeFi Saver Fees
Generally DeFi Saver is free to use, however do include some fees for their more advanced features these include;
MakerDAO, Compound and AaveDashboards;
0.25% service fee for Boost, Repay, Creating and Closing Leveraged Positions
0.3% service fee, for Automation Adjustments
There are no services fees for the likes of adding or withdrawing collateral or borrowing or paying back debt.
With Loan Shifter, this includes;
0.09% fee for Aave Flash Loans
0.25% fee for Collateral and Debt Shifts
With the Exchange, all tokens swaps have a 0.125% fee.
Smart Savings are free of charge.
With DeFi Saver you can connect up a whole host of Web3 wallets including the likes of MetaMask, Ledger, Trezor, Argent, and Trust Wallet.
Users can also connect any wallet app that supports WalletConnect.
DeFi Saver Exchange
There is an exchange feature built into DeFi Saver that can be used for trading Ethereum based tokens. DeFi Saver will find the best prices sourced from 0x, Uniswap and Oasis.
The token swap price shown will include a 0.125% service fee.
DeFi Saver Smart Savings
Smart Savings is a DAI lending dashboard that supports several protocols allowing users to quickly move their funds between protocols in a single click.
At the time of this DeFi Saver review, Smart Savings integrates with Compound, dYdX, Fulcrum and MakerDAO). This is all managed from a single dashboard. Enabling users to track their rates across these applications and move them, for more favorable rates with 1 transaction.
DeFi Saver Smart Wallet
For funds to be moved between these protocols, each Smart Savings account has a smart contract wallet that is in control of your funds while you’re supplying them within Smart Savings. Then once you have supplied your funds to the protocol, if the interest rates change and you want to change protocols you can quickly move your funds across.
DeFi Saver Recipe Creator
Recipe Creator is a newer feature to the protocol. Allowing users to create complex transactions which include multiple actions. With the idea to make flash loans and DeFi Legos available to all, even those with less technical backgrounds.
For those less technical, Recipe Creator can be used by users to tell the interface what they want and let the app prepare their recipe for them with the use of natural language processing. For example, a user could state that they want to “borrow 100 Dai from Aave v2, sell DAI for UNI” and the app will create it for you.
Currently, Recipe Creator supports Aave, Compound and Maker actions, plus Aave and dYdX flash loans and basic functions including the creation of buy and sell orders via 0x exchange. However, this will be expanded to include liquidity pool actions with Reflexer and Uniswap (v2).
DeFi Saver Simulation Mode
DeFi Saver has a “Simulation Mode” also built into their platform. Allowing users a way to test out DeFi protocols without having to set up an account or spend anything in transactions costs. With Simulation Mode, you’ll be provided with an account holding 100 ETH and appearing like its running on the Ethereum Network.
When Simulation starts, DeFi Saver take a copy of the Ethereum network and all your transactions go onto that copy. The only tasks that you are unable to perform will be the likes of Automation for any positions that you’ve created and you wont be able to view your Maker CDP history or Profit.
There are no fees to pay for the simulation mode, plus it has no expiry. Just be aware though that the prices and stats will be outdated as these are frozen at the start of the simulation.
DeFi Saver Automation
DeFi Saver Automation is an automated management system for collateralized debt positions (CDPs). Based on the settings that a user configures, it increases or decreases leverage as the price of an underlying collateral asset changes. This is a great feature to have onboard as it essentially provides automatic leveraging and liquidation protection.
DeFi Saver Gas Prices Extension
At the time of this DeFi Saver review, gas fees are at an all time high. However, you can track and get notified when fees are low using the the DeFi Saver Gas Extension. Available as a browser extension for both Chrome and Firefox, users can set alerts adding an option of selecting cheap, standard or fast gas for tracking.
MetaMask has always been the go-to wallet for accessing the Ethereum network. However, you can now connect MetaMask to the Binance Smart Chain, for accessing decentralized apps and DeFi that support it.
Users are getting increasingly frustrated with the sky-high prices when interacting with the Ethereum network and are now searching for ways to reduce their costs.
One way is by avoiding the Ethereum blockchain altogether by using Dapps such as PancakeSwap or Burgerswap to exchange your assets, yield farm, or vote on proposals on alternative blockchains. One such blockchain is the Binance Smart Chain built for cross-chain compatibility with Binance Chain, the home of the BNB token.
In the tutorial, I will explain how to connect MetaMask wallet to the BSC (Binance Smart Chain). For more information on the Binance Smart Chain, you can also check out the Binance Academy.
What is MetaMask?
MetaMask is a crypto wallet and gateway to blockchain-based apps. MetaMask is available as a browser extension for the likes of Chrome, FireFox, and Brave. Traditionally used on the Ethereum network, MetaMask can also be customized to connect to the likes of Binance Smart Chain and Avalanche Network.
If you would like to find out more information, check out our step-by-step MetaMask tutorial here.
Connecting Binance Smart Chain to MetaMask
Below are the details that you will need to add to your MetaMask account to add the Binance Smart Chain. However, before transferring to the network, please also double-check these with the Binance Academy blog to ensure these are up to date.
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com
How to Send BNB to Binance Smart Chain on MetaMask
If you want to transfer BNB tokens from Binance Exchange to Metamask, you will first need to follow the above steps set out in this tutorial. Once that’s completed you can then follow below to send BNB
Open up your Binance wallet within the exchange, select Binance (BNB), and click withdraw.
Open MetaMask on your browser. Make sure you have the Binance Smart Chain network selected before you copy your address.
Paste the MetaMask address you copied, in the address field on Binance Exchange. Choose the Binance Smart Chain (BSC) Network and enter the amount you want to transfer, then submit the transaction.
I recommend using 2FA as an extra layer of security, so if you have this in place, you should be asked to confirm the transaction. If you don’t have a YubiKey, I recommend looking into this to increase security.
Once you have completed security verification you should receive a confirmation email of your withdrawal.
As the transaction was sent via Binance Smart Chain, the transaction should go through within a couple of minutes and at a very low transaction fee.
Unfortunately, Binance.com isn’t available for users who live in the United States and are instead permitted to use Binance.US. Some of the downfalls with Binance.US is the number of trading pairs available and the ability to swap or take part in liquidity farming on PancakeSwap or BakerySwap. However,
Binance has released a Binance Chain Wallet extension for chrome browser, that works for both the Binance Chain (BC) and Binance Smart Chain (BSC). However, users have experienced issues when using the Binance Chain Wallet, so just be curious when using this.
Another option I believe you can get around this is by disguising your location by using a VPN like ExpressVPN. This is a risk and not something I would recommend.
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The Mirror Protocol is a decentralized platform on the Terra blockchain, created by Terraform Labs. Mirror enables users to mint, trade, and stake synthetic real-world assets including selected equities, ETFs, commodities, and tokens tradable 24/7.
In this Mirror Protocol review, we take a look at Mirror.Finance and explain what mirrored synthetic assets are. Plus how to mint mAssets like COIN, how to trade and stake to earn a high yield. Mirror also provides users with free MIR tokens via weekly airdrops, which you also stake to earn yield.
What is the Mirror Protocol?
Mirror Protocol is a DeFi protocol launched in December 2020 and was created by Terraform Labs, on the Terra network. Allowing anyone, anywhere to trade equities 24/7 through minting synthetics assets, known as Mirrored Assets (mAssets).
These assets mimic (or mirror) the price changes of real-world assets such as stocks like Netflix, Tesla, Twitter or Coinbase, ETFs, and tokens. Therefore, users worldwide can trade their favorite real-world assets on the blockchain, anytime and anywhere using the Mirror Protocol. Not only that but users can have access to mAssets on the Binance Smart Chain, Ethereum and Terra blockchains with further plans to continue cross-chain expansion.
Why Use Mirror?
mAssets are stored on the blockchain meaning anyone in the world can get access without geographic restrictions Mirror Protocol could also attract smaller investors, as you can start trading with less than a whole share using fractional shares. Plus the site is decentralized which means you don’t have to go through any KYC or provide any personal information. Simply connect up a supported wallet to get started.
What is the Terra Protocol?
The Terra Protocol was created in 2018 by a Korean blockchain company called Terraform Labs founded by Daniel Shin and Do Kwon. With the idea to facilitate the mass adoption of crypto by creating digitally native assets that are price stable against the worlds major FIAT currencies.
Terra runs on a delegated Proof of Stake (PoS) blockchain and is powered by Tendermint consensus, which relies on a set of validators to secure the network. Miners need to stake a native cryptocurrency named “Luna” to mine Terra transactions.
Transactions on the Terra blockchain take seconds to complete. Plus the cost of transaction fees when interacting with smart contracts is a lot lower than the gas fees on the likes of Ethereum. Making it an ideal alternative for developers seeking smart-contract-enabled blockchains.
Terra is responsible for the development of several successful crypto projects, including Anchor Protocol offering saving products for Terra stable coins with the aim to deliver a fixed rate of 20% APY on your deposits.
What are Mirror Protocol Assets (mAssets)?
The synthetic assets created on the Mirror Protocol are named mAssets because they use the prefix “m” for each synthetic assets. Meaning that Tesla (TSLA) is mTSLA and Apple (AAPL) is mAAPL, etc. mAssets track the price of the underlying asset via a decentralized price oracle which is updated every 6 seconds.
They are also listed and can be traded on the likes of Uniswap, Terraswap, and more recently PancakeSwap. After bridging to the Ethereum Network, Mirror Protocol has also bridged on to the Binance Smart Chain (BSC), bringing tokenized synthetic assets to the BSC community.
The Mirror Protocol supports a wide range of assets including the likes of;
Mirrored stocks such as; Apple, Amazon.com, Alibaba, Netflix, Tesla, and Twitter.
Mirrored ETFs like; iShares Gold Trust, iShares Silver Trust, United States Oil Fund, LP, and Invesco QQQ Trust.
Tokens include; Mirror Governance Token and Mirrored Bitcoin and Ethereum.
Mirror Protocol Features
With the Mirror Protocol there are several features and roles that users can take and that’s as a Trader, Minter, Liquidity Provider or a Staker.
Traders essentially buy and sell mAssets against UST through Terraswap.
“Minters” enter into collateralised debt positions in order to obtain newly minted tokens of an mAsset.
“Liquidity Providers” add equal amounts of mAssets and UST to the corresponding Terraswap pool, which increases liquidity for that market.
“Stakers” stakes either LP Tokens or Mirror MIR tokens to earn staking rewards.
Mirror MIR Tokens
The Mirror MIR token is Mirror Protocol’s governance token and is also used to reward liquidity providers. Mirror can be traded for on popular exchanges such as the likes of KuCoin, OKex and Uniswap.
Alternatively, MIR can be earned by staking LUNA via the TerraStation wallet. You can provide liquidity and earn rewards or you can stake on the Mirror Protocol or these can be rewarded via their airdrop.
Similar to other decentralized protocols such as Uniswap or PancakeSwap, users simply need to connect up a supported wallet to get started with the Mirror Protocol. Because the site is decentralized there’s no sign-up or personal data required.
Mirror Finance also have their own Mirror Wallet, that brings you diverse trading options with 24hr trading access across the globe. Plus you can invest and trade mirrored assets that track prices of top global equities.
Mirror Token Airdrop
At launch, a total of 18.3 million Mirror MIR tokens were airdropped to LUNA stakers and UNI holders as a reward. This was based on a screenshot that was taken on 23/11/2020. Each user with LUNA staked receive MIR on a pro-rata basis and each UNI holder with at least 100 UNI receives 220 MIR.
Also, over the course of the first year, 18.3 million MIR tokens will be distributed to LUNA stakers on a weekly basis (every 100,000 blocks).
These airdrops will appear when you connect your wallet to the protocol and can simply be claimed when prompted.
Terra Smart Stake
If you´re unsure when Terra airdrops are available you can check out when the next airdrop is due by heading across to https://terra.smartstake.io/
How to Stake with Mirror Protocol
Mirror Protocol enables users to stake Mirror tokens or Liquidity Provider (LP) tokens.
When you add liquidity to a pool you’re provided with Liquidity Provider, also known as LP tokens. These tokens represent your share of the pool and can be staked to earn more mirror tokens.
Mirror Tokens can also be staked via the protocol’s governance tab, where rates are lower. However, there is less risk associated.
Staking with Mirror Protocol, will incur a transaction fee. However, because Mirror is on the Terra Network, the fees are generally low at the time of writing this Mirror Protocol Review.
Creating/Minting Mirrored Assets mAssets
Mirrored Assets (mAssets) can be created by anyone. All mAssets that are bought (or sold) on Mirror were, at one point, minted. Minting is the process of providing collateral to issue a “synthetic” mAsset.
New assets will be minted when collateral is deposited. Users will need to lock up 150% of UST’s current asset value (or 200% if they’re using other mAssets as collateral).
Please tread with caution as if positions go under the minimum collateral ratio, they will be liquidated; this measure regulates and secures the minting process.
For redeeming an mAsset, users must burn the same amount of mAssets issued when opening the collateralised debt position (or CDP) to get back the provided collateral.
Is Mirror Protocol Safe?
The Mirror Protocol development team has worked with the Cyber Unit team and 3rd party consultants to create a safe and trusted protocol. All contract code and balances can be publicly verified and contract audits can be here.
Ampleforth, the rebasing cryptocurrency protocol has now launched their new token FORTH. As part of this, they’re dropping their newly released token to the community. If you’ve ever had a wallet that’s “touched” AMPL, you could be one of the lucky 75,000 people set to get some free FORTH tokens as part of Ampleforth airdrop.
Ampleforth was co-founded by entrepreneurs Evan Kuo and Brandon Iles in 2018. With the idea to provide an elastic supply stablecoin that aims to be loosely pegged to the US Dollar.
However, the twist with AMPL is that the supply changes daily. If the demand for AMPL increases, the supply of the tokens also increases to offset changes in price. So when the price is high, wallet balances increase. When price is low, wallet balances decrease.
AMPL is non-dilutive, and supply adjustments are applied universally and proportionally across every wallet’s balance. Meaning that your percent ownership of the network remains fixed.
What Are Ampleforth FORTH tokens?
FORTH is a new governance token that completes the AMPL ecosystem, by putting control of the protocol in the hands of the community. Using the Forth token, holders will be able to vote on changes to the protocol.
The forth token is currently trading at over $40 at the time of this post and with current highs of over $65
Anyone who has interacted with Ample (on-chain) before the snapshot was taken on: 30th March 2021 is eligible to claim.
It’s estimated that over 75,000 people have interacted with Ample in the token’s 2 year history, with over $5B in on-chain volume exchanged across the likes of Uniswap, SushiSwap and Balancer.
Users will be eligible to collect their portion of the new FORTH tokens through the next year. With active participants in the protocol expecting to receive a higher share.
Users can claim the tokens anytime before April 16, 2022. Any unclaimed FORTH tokens will be placed in the DAO under the jurisdiction of the community.
How to Claim from the Ampleforth FORTH Airdrop
Below is a step by step guide to how you can claim your free FORTH tokens from the Ampleforth token drop. Its also worth checking and connecting up multiple wallets that you think may have also interacted to see if you are eligible for multiple airdrops.
Step 2: Click onto “Connect Wallet” and choose your associated wallet thats held AMPL.
Step 3: You will then be shown the total amount of FORTH tokens that can be claimed.
Step 4: You will need to confirm the transaction in your wallet and pay an associated gas fee for the transaction.
Step 5: Once the transaction is complete you’ll receive a notification on screen and the airdropped FORTH tokens will be available in your wallet.
What can I do with my free Ampleforth FORTH Tokens?
What you do with your free FORTH tokens, is completely up to you. You can store these in an Ethereum based wallet, such as the likes of MetaMask, Ledger or the Coinbase Wallet.
Or you can trade for other tokens such as AMPL, where you can then stake them for further rewards.
Earn FORTH Token with Coinbase Earn
You can now earn free FORTH token with Coinbase Earn rewards. Coinbase Earn allows users to learn about different cryptocurrencies, while learning and completing a short quiz or task to test your knowledge to receive rewards. If you’re unsure if you’re eligible to claim Coinbase Earn rewards click here.
Questions 1: What is Ampleforth? Answer: Rebases
Questions 2: What is FORTH Token? Answer: AMPL & FORTH
Questions 3: The Future of Ampleforth Answer: DeFi Building Block
In a recent Trust Wallet tutorial, we mentioned the DApp (Decentralized Application) browser feature was no longer available for Apple iOS users. This change only impacted those on iOS that installed the update after June 22nd, 2020, and Android users were unaffected. Trust Wallet stated that they removed this DApp feature to comply with the new App Store Guidelines.
Fortunately, there is a way to add the DApp browser back into your Trust Wallet so that you can connect to your favorite Dapps via your wallet. By following these steps you will be able to add the DApp browser to the Trust Wallet.
The Trust Wallet browser is a fully functional Web3 browser that can be used to interact with any DApp. Plus it provides a simple and secure connection between you and any Binance Smart Chain, or the Ethereum based DApps. Including the likes of PancakeSwap, SushiSwap and Uniswap.
How to Add DApp Browser to Trust Wallet iOS
To get started you’ll first need to have the Trust Wallet installed. If you’re not familiar with the Trust Wallet you can check out my tutorial below. Or if you don’t already have a Binance account check out my post that could get you up to 45% off your trading fees.
This guide only applies to iOS users, and Android users should already have the DApp browser available.
Step 1: Open your Safari browser on your iOS device & type in the URL: trust://browser_enable, then select “Go”.
Step 2: When prompted to “Open this page in “Trust”?” Choose “Open“.
Step 3:Trust Wallet App will launch & the DApp browser will now be enabled.
Step 4: Go to the bottom of the App & you will now see the “Browser” feature available from the menu.
Trust Wallet Tutorial
If you’re not yet familiar with the Trust Wallet and you’d like to get started, then check out my tutorial. Which takes you through a Trust Wallet overview, then how to create a new wallet, send, receive trade, stake and hold your crypto-collectibles and NFTs.