DeFi saver, one of the leading applications for creating, managing and tracking DeFi positions on Ethereum, today announced the long-awaited launch on two leading Layer 2 networks, referee and optimism.
Active on the Ethereum mainnet since 2019, DeFi Saver offers innovative DeFi asset management capabilities and continuously expanding support for major DeFi protocols to make complex DeFi interactions easier and accessible to the average user.
The expansion to Layer 2 networks brings significantly lower transaction fees, which has become a growing concern for the Ethereum DeFi ecosystem. While the app initially went live at a Time before network congestion was not an issue with Ethereum, the number of users increased over the In recent years, the app has become inaccessible to more and more people, according to the team is trying very hard to remedy the situation.
“We are excited to go live on two of the most popular optimistic rollup networks on Ethereum right now, and we look forward to providing our signature leverage management and automated liquidation pProtection features in a much more accessible environmentsaid Nenad, the co-founder of DeFi Saver.
With today’s release, DeFi Saver brings the signature features of its application for the Aave v3 protocol to Optimism and Arbitrum network users. The advanced dashboard supported the
Aave protocol since v1 on Ethereum mainnet. Aave fans can count on DeFi Saver’s Boost and Repay features, which allow assets to be leveraged with one transaction, now with much lower fees.
That Aave protocol is a non-custodial money market protocol that allows users to lend or deposit their assets, borrow against their collateral and build leveraged market positions. The Aave V3 release represents Aave’s most ambitious attempt to solve some of the vulnerabilities of the DeFi space and protocol. Better capital efficiency, better risk management, interchain interactions, and gas optimizations related to the L2 expansion are some of the key improvements in the new release.
DeFi Saver’s rollout to these networks is based on the same modular architecture that the team rolled out to mainnet in early 2021 Release of the Recipe Creator. Users can expect the DeFi UI for transaction creation to appear on Layer 2 networks very soon as the number of protocols built into them increases.
Users who haven’t moved assets to Arbitrum or Optimism before will also appreciate a new Bridge dashboard in the app. LI.FI, a bridge and DEX aggregation protocol, powers the new bridging capabilities and ensures all users get the best rates in all their bridging activities. The team also wants to make it possible to bridge entire positions in the coming months, although there is currently no ETA for this feature.
Work is also already underway to bring automation features to DeFi on both Arbitrum and Optimism, most notably automated liquidation protection for Aave v3 users. However, the greatly reduced transaction fees on L2s also allow for experimentation with new options, so you can expect new automated features such as limit orders or automated DCA strategies in the months to come.
In the future, the team plans to extend support to L2s with more protocols, including both native L2 protocols and traditionally supported protocols like MakerDAO and Compound, once they are also available on L2s. Users can also expect an L2-focused Smart Savings dashboard in the coming months, offering aggregated and simplified access to yield farming options.
As a reminder, L2 networks aim to inherit the security of Ethereum by design while offering additional throughput and much lower transaction costs. Of the two types of rollup networks currently under development, optimistic and zero-knowledge rollups, arbitrum and optimism are the two leading EVM-equivalent optimistic rollup networks in terms of activity and TVL.
DeFi saver is An all-in-one dashboard to create, manage and track your DeFi positions with automatic liquidation protection and leverage management options. So far, the application has saved thousands of users from liquidation and helped users process over 100,000 transactions and over $6 billion in trading volume.
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Disclaimer: This is a paid post and should not be treated as news/advice.
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