Before we get started, this is not a recommendation or endorsement to buy any token mentioned.
In late 2019, I met one of the CoFounders of Zapper, Nodar Janashia, who was still operating under the original name of DeFiZaps. Nodar was an early builder in the growing DeFi movement. He had a hunch that DeFi was just the start of Ethereum’s first real product-market fit to go mainstream. In order to access the growing list of protocols and yield-earning opportunities, DeFiZap offered bundled transactions in a simple UI to help users discover new DeFi and easily enter/exit with a single token.
As the crypto bull market kicked into high gear in spring 2020, a major accelerator to the DeFi movement was the introduction of user-friendly tools like DeFiZaps, which ultimately merged with another fast-growing DeFi project for tracking your portfolio called DeFiSnap, to become Zapper. Zaps by Zapper quickly gained popularity as users demanded them to easily deposit or exit liquidity provisions (LPs) with a single token on Uniswap, Curve, Balancer, Yearn, SushiSwap, and more. Zaps made it possible for more to get in and out of LPs, which could then be used to stake and earn yield during the height of DeFi Summer.
Fast forward to 2022, the alternative to bundling transactions with Zaps is still a very manual process vs where one must prepare a 50/50 ratio of tokens for popular AMMs like Uniswap. Zaps solved major pain points for DeFi users who need help:
- Identifying LPs based on tokens and protocols
- How to prep the necessary amount of each token to deposit
- How to work through multiple transactions