One of the main concerns among DeFi users is accessibility. Protocols and DEXs sometimes can be somewhat difficult to use, which turns into a barrier for DeFi popularization. Zerion aims to be a solution for this specific issue, integrating several protocols under a single user-friendly interface to make users’ lives easier.
Let’s learn more.
How Does Zerion Work?
Zerion works as an interface for DeFi. It allows users to trade, lend/borrow, or invest assets as they want, offering integration with more than 8 different protocols.
The platform is a gateway to the world of DeFi. Users can manage their DeFi portfolio across multiple accounts in a single site, tracking their assets in real-time with live price updates and instant notifications.
It has natively integrated major protocols such as Compound, Uniswap, and Maker, just to name a few, to allow users to lend assets, earn interest, buy/sell different tokens, and provide liquidity to several DEXs pools, all done under a single interface.
Zerion is 100% decentralized and non-custodial, so it does not require any user’s personal information from the very beginning.
It can be accessed worldwide with no restrictions, securing open access to the underlying protocols integrated into the platform.
Users are free to lend their assets, being able to passively earn up to 5% on interest rates yearly.
The platform also permits users to use cryptocurrency as collateral to borrow stablecoins.
Learn more: What’s DeFi Money Market?
Users can connect into the platform using several web3 compatible wallets, such as MetaMask, imToken, Trust Wallet, Ledger, Coinbase Wallet, and Tokenary.
So far, Zerion supports all major DeFi protocols, allowing users to track their entire portfolio from one single interface.
The platform currently supports all the tokens and protocols integrated with DeFi SDK*.
*(DeFi SDK: an open-source system for smart contracts, fully built by Zerion).
Recently the project incorporated several protocols such as Synthetix, Curve Finance, Aave protocol, and 0X, just to name a few. It shows the team behind the project aims to expand the available services as much as possible.
How to Get Started?
Accessing Zerion is simple. Users just have to sign up on the official app website (app.zerion.io), being able to sign up using Fortmatic or using a wallet supported by the platform (MetaMask, Ledger, etc).
The first thing user will notice is that the interface is plain and simple to use, with no complexities involved throughout the process.
An interesting feature we can highlight is that the interface shows the equivalent US Dollar (or selected fiat currency) value of all assets within the portfolio, included with the 24-hour change in value.
Users can check their wallet transaction history, filtering by protocol, asset, address, or even transaction type.
Zerion integration with Compound allows users to deposit various tokens for lending (and interest-earning, obviously). The list of tokens is available on the interface, displaying each one’s specific interest rate, the value deposited per token, and the specific interest earned per token, as well as the total fiat amount deposited and earned.
So far, the platform supports the lending of major tokens such as ETH, USDC, DAI, WBTC, SAI, ZRX, REP, and BAT.
The Exchange feature allows users to buy and sell tokens connecting with Kyber Network, Uniswap, 0x, and other featured DEXs.
Users also can contribute with liquidity to other protocol’s liquidity pools, adding up liquidity to Uniswap or Bancor to earn rewards.
There is the possibility of borrowing too. Users can take out collateralized loans using Compound or Maker (if the user is borrowing DAI, specifically). All tokens available for lending are also available for borrowing, except for WBTC.
Who is Behind the Idea?
The project was established in 2017, being co-founded by Evgeny Yurtaev (current CEO) and Vadim Koleoshkin (current COO). They started to develop it from scratch, using their financial resources to make the idea come to reality.
Two years later (2019) they decided to announce a seed funding round, which ended up earning $2 million. The funds were used wisely to accelerate the company development and add up support for more services.
From 2017 to the end of 2019, Zerion processed $16 million in Compound deposits, supplied $2 million in liquidity to Uniswap, and originated $19 million in transactions.
The project has received several awards and made a definitive impact on the scene.
Zerion gives users access to an easy-to-use interface that works as a simple way to track and manage their decentralized finance portfolios from one single place.
It is non-custodial and permits users to invest, lend/borrow, and trade crypto assets on more than 8 different protocols. Already considered a remarkable tool, Zerion has climbed to the pinnacle of the DeFi market very quickly.