Symbiosis Introduces Tool to Automatically Deposit Liquidity to DeFi Protocol Pools

Decentralized exchange Symbiosis has added ZAP technology, which automates the receipt of LP tokens from pools.ZAP works with pools of Symbiosis and popular DeFi protocols: Aave and Cream.

ZAP automatically converts the owner's funds into the desired coins and deposits them into the pools. The user pays transaction fees in the original cryptocurrency.

For example, to get USDC (BOBA Network)/sUSDC (Ethereum) pool LP tokens for USDT ERC-20, you will need:

1. Exchange USDT for USDC and sUSDC.
2. Buy BOBA to pay commissions on the BOBA Network.
3. Contribute all tokens to the pool.

ZAP simplifies this process to one step: the user selects an asset and destination pool, confirms the transaction, and receives LP tokens.

The exchange of USDT for LP USDC-sUSDC looks like a regular token swap.

At the time of publication, ZAP supports depositingliquidity pools with stablecoins on Ethereum, Avalanche, BNB Chain, Polygon and BOBA Network. The Symbiosis team plans to add more pools, most notably Aave and CREAM.

ZAP will be included in the SDK so that platform partners can use it in their products.

Symbiosis - multi-chain DEX for EVM-compatibleblockchains and L2 solutions of Ethereum. The team plans to add support for NEAR Protocol and DeFi on it soon. The volume of funds in the pools exceeds $8 million.

Symbiosis previously announced an integration with the 1inch aggregator.