DeFi Saver app expands to Arbitrum and Optimism
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, Arbitrum and Optimism.
DeFi Saver has been live on the Ethereum mainnet since 2019 and has regularly expanded support for major DeFi protocols in an attempt to make sophisticated DeFi interactions more clear and accessible to the ordinary user.
Expansion to Layer 2 networks results in much lower fees, which is becoming an increasing challenge for the Ethereum DeFi ecosystem. While the app went live at a time when network congestion on Ethereum was non-existent, the growing number of users over the years has rendered the service inaccessible to an increasing number of individuals, which the team is eager to solve.
The Co-Founder of DeFi Saver, Nenad said:
“We’re thrilled to go live on two of the currently most popular optimistic rollup networks on Ethereum, and we’re looking forward to providing our signature leverage management and automated liquidation protection features in a much more accessible environment.”
With today’s update, DeFi Saver extends its application’s unique Aave v3 protocol functionality to Optimism and Arbitrum network customers. Since v1 on the Ethereum mainnet, the advanced dashboard has supported the Aave protocol. Fans of Aave may rely on DeFi Saver’s signature Boost and Repay features, which enable 1-transaction asset leveraging with significantly lower fees.
DeFi Saver’s launch on these networks is based on the same modular architecture that the team rolled out on the mainnet in early 2021, with the release of the Recipe Creator. Users can expect the DeFi transaction building UI to appear on Layer 2 networks very soon, too, as the number of integrated protocols there expands.
Automation capabilities for DeFi on both Arbitrum and Optimism are also in the works, most notably automated liquidation protection for Aave v3 users. However, the much lower transaction fees on L2s allow for experimentation with new alternatives, so expect to see new automated features such as limit orders or automated DCA techniques in the coming months.
Moving forward, the team intends to continue increasing L2 support with other protocols, including both L2 native protocols and previously supported protocols such as MakerDAO and Compound, as they become accessible on L2s as well. In the coming months, users may also expect an L2-focused Smart Savings dashboard, which will provide consolidated and simplified access to yield farming alternatives.
DeFi Saver is an all-in-one dashboard for creating, managing and tracking 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 handle over 100,000 transactions and over $6 billion in trade volume.
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