“Zerion is the right product to bring DeFi to a mainstream audience.” – said Brad Burnham, Venture Partner at Placeholder.
Zerion is a universal non-custodial interface. It allows users to lend, invest, borrow, swap, and more with DeFi. If you are looking for your favorite crypto defi wallet to connect and manage your assets, Zerion is for you. Also, there’s a looming possibility of getting Zerion airdrop tokens soon, if you are an early adopter of the product. This article will provide you a detailed-overview of Zerion. Let’s begin.
What Is Zerion?
Zerion is an all-in-one non-custodial decentralized finance (DeFi) interface. It creates your way to actively track and manage your DeFi portfolio. The dashboard is designed in a manner that offers simplicity, user-friendliness, and clarity. With an efficient interface, Zerion supports top DeFi applications. It is also a minimally-invasive approach. It means that the user can use many of the features of Zerion crypto without allowing any access to the user’s fund.
Furthermore, it allows users to manage DeFi portfolios in real-time. It’s done across certain protocols and Zerion’s wallet. At a glance, the user may find the record of balance, transaction history, investments, and savings.
Who Are The Founders Of Zerion?
Evgeny Yurtaev, Alexey Bashlykov, and Vadim Koleoshkin are the founders of Zerion.
Evgeny Yurtaev: He is the co-founder of Zerion. He worked at Google as a software engineer and Jufy Projects. Moreover, he has extensive experience in blockchains called Ethereum.
Vadim Koleoshkin: The business-minded, Vadim Koleoshkin, is the co-founder of Zerion. Previously, he founded Jufy Projects, an app development studio, and a consulting firm.
Alexey Bashlykov: The third co-founder and CTO, Alexy Bashlykov, is an android developer. He also worked with his co-founders at Jufy Projects.
Who Are The Investors Of Zerion?
In 2019, the Zerion technical team successfully raised $2 million in its first round of seed funding. This includes participation from Placeholder, Blockchain Ventures, and Gnosis. There may be some other smaller investors which we may not get to know but these are the largest 3 investors of the popular Defi Dashboard project.
A Venture partner at Placeholder and a previously co-founder at Union Square Ventures, Brad Burnham led the round. According to Burnham, Zerion’s vision is appealing, comparing the emergence of the DeFi to that of the Internet.
Blockchain Ventures is a capital fund and a subsidiary of Blockchain. It is also the world’s most popular creator of popular crypto wallet. Samuel Harrison, the Managing Partner at Blockchain Ventures, believes that Zerion is making DeFi simple and easy to use for its users.
The final partner and investor of Zerion is Gnosis. They are famous for building decentralized prediction markets. Also, they have helped companies secure over $300 M in tokens and Ether.
What Is DeFi Dashboard? Why Do We Need DeFi Dashboard?
Defi Dashboard allows users to get live metrics. It helps them to decrypt the DeFi space and choose the right DeFi products. It is hard to keep track of all Zerion token trades and DeFi transactions in Metamask or Etherscan. Furthermore, DeFi users can find information for different protocols. It includes DeFi Swap, Curve, Bancor, and Uniswap.
Is Zerion Safe?
As mentioned above, Zerion’s crypto wallet is a non-custodial DeFi interface. It means that no party could have access to the user’s private keys. Also, they are not allowed any access to the user’s funds without their permission. Zerion crypto offers you the guarantee of being in control of your account.
Moreover, users can only provide access to the funds to others when they share private keys with them. It’s recommended for Zerion users to be aware of common DeFi scam strategies. Further, avoid sharing any private keys with others.
Zerion crypto offers 360 -degree exposure to your DeFi portfolio. Starting from balance history, vaults, loans open to interest earned, you get all. Also, with a user-friendly dashboard, users could get access to everything in one place.
Additionally, safety and security access in Zerion crypto come under the control of the user. It’s protected in every manner. Also, you can check every trade you made along with transactions.
Zerion is easy to use, has no KYC as it is a Web3 wallet that connects to your Ethereum wallet and is fully decentralized. They provide an easy way for you to view all your ERC-20 tokens in one single dashboard. If you liquidity pool or swap tokens frequently, everything is easy to track right from Zerion’s dashoard.
Zerion Uniswap Liquidity Pool
Uniswap, you may have heard it as an Ethereum based exchange. Uniswap is a decentralized exchange. It is in the form of two smart contracts, which are hosted on the Ethereum blockchain. It is a purely on-chain market maker that allows the swapping of ERC20 tokens.
Besides, Uniswap allows its users to contribute to liquidity pools for ERC20 tokens. And, its users could gain commissions in the form of exchange fees. Zerion makes it so easy to do Uniswap Liquidity Pooling and Yield farm tokens in other exchanges too. It’s an aggregator of all DeFi platforms and helps you centrally manage your investments. Not just that, Zerion has the cheapest ETH Gas transaction cost in the Decentralized Finance (DeFi) space.
Zerion Invest And Save
To earn rewards, users can add liquidity to Bancor or Uniswap liquidity pools in the ‘Invest’ tab. The complete list of the top pools for both procedures is displayed and users can choose to either add or remove their liquidity via Zerion.
Moreover, users can deposit a variety of Zerion tokens for lending. Also, earning interest through Compound in the ‘Save’ tab. Users can see a list of tokens including interest rate, interest earned per token, the amount deposited per token. On the top of the page, the total dollar amount deposited and earned is displayed. Currently, Zerion crypto supports SAI, DAI, WBTC, ZRX, REP, BAT, ETH, and USDC.
Zerion Pools- Adding Liquidity To Liquidity Pool
Zerion supports single-transaction that includes Uniswap, Sushi, Curve, and Balancer liquidity pools. It offers passive income for your crypto through easy ways. Unlike the traditional model, the liquidity pool transactions traded against a smart contract. However, anyone can become a liquidity provider.
The process starts by depositing crypto into a liquidity pool. You then further earn trading fees in proportion to their share in the pool.
Below are the steps mentioned to invest in a liquidity pool
Step 1: Access your DeFi portfolio at Zerion Connect Wallet
Step 2: Connect your wallet and confirm your wallet connection.
Step 3: Open the ‘Pools’ Tab.
Step 4: Select any liquidity pool to view asset description, performance, and key metrics.
Step 5: When ready to invest in a pool, select the currency you’d like to make the purchase and input desired amount. Zerion’s transaction builder will find the cheapest route for your trade and execute it. However, you may need to approve Zerion tokens before using them to purchase a pool share.
Step 6: Confirm the transaction in your crypto defi wallet.
Step 7: After depositing your assets in the pool, you’ll be able to track pool shares from the portfolio. You’ll also be able to see your Profit/Loss, Average Cost, Daily Return, and Fees Paid when you click on the asset.
In Zerion crypto, the ‘Borrow’ tab allows users to take out collateralized loans. It initiates via Compound (or Maker in case borrowing DAI). Moreover, the list of available tokens is similar to the ‘Save’ tab minus WBTC. The users get to enter the loan amount and collateral choice. Then they could further expect collateral amount and APR rate.
Step 1: Enter ‘Borrow’ and tap ‘New Loan’.
Step 2: Enter the loan amount and collateral choice. Tap ‘Borrow’.
Step 3: You can return the loan when you want. You need to tap the ‘borrow’ page, look for ‘Total debt’ and tap ‘Repay’.
Zapper Vs Zerion- Top De-Fi Aggregators
The choice between Zapper crypto and Zerion defi is solely dependent on the user’s specific needs. However, users who are looking for a product for liquidity pooling and yield farming prefer Zapper over Zerion’s dashboard. Also, Zapper has a clear edge for LPs. On the contrary, those users who want access to borrowing and lending would prefer Zerion’s dashboard.
In Zapper, one can invest in any yEarn vaults by using a variety of assets. Zapper converts the Zerion token to the required form (USDC for yUSDC vault or YFI for the yYFI vault) and then further makes the deposit. On the other hand, Zerion crypto tends to integrate more protocols. However, this platform currently offers yield farming integrations for Bancor and Uniswap.
Furthermore, Zerion’s dashboard is more efficient than Zapper. However, Zapper provides in-depth information. It includes exchange fees available to claim from Synthetix.
Takeaway- Zerion Review
Zerion’s set all its way to become the jack of all trades by taking a long term approach to become the best platform for all DeFi investments. It falls under the category that saves your tracking trades hours and calculating profits or losses. If you use Defi, Zerion is your answer for it. Therefore, it seems obvious to expect Zerion to become a base hub for interacting with DeFi.
The best way to access all your crypto in Zerion’s interface is through your Metamask wallet. Zerion’s best alternatives at the moment are wallets like MyEtherWallet or MyCrypto or Gatehub Wallet or Breadwallet.
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates