What is Zapper’s “Save” Feature?
In DeFi, liquidity protocols allow users to deposit their assets and earn interest. Users can borrow assets using their deposits as collateral and earn passive income by contributing liquidity to the market. In order to protect all the outstanding deposits in the protocol, users may not borrow more than what they have deposited as collateral.
Those new to DeFi can think of these protocols as a way to invest your money, whether it is fiat (a government-issued currency) or crypto. If you have a bank account, you are likely already participating in similar activities, such as lending and borrowing. Banks issue loans and charge interest, which the borrowers must repay along with the principal loan. In DeFi, users can deposit or borrow. Depositors receive interest on their assets, whereas borrowers must deposit crypto assets as collateral and pay interest to secure the depositors’ investments.
Earn Interest on Zapper
Using our “Save” feature, it is possible to earn interest from the Zapper dashboard. On Zapper’s save page, users can view a list of assets to deposit, reorder the list by Market Size, and filter the list by token. Each asset’s Annual Percentage Yield (APY) is also visible. Zapper makes it simple to seamlessly exchange any asset for protocol tokens that are supported on our Save feature.
When you have selected the asset that you want to deposit, click “Deposit” to open the transaction window. Process the transaction as usual, ensuring that you complete both steps in the transaction approval, “Approve” and “Confirm.”
Zapper recommends revoking infinite approvals and maintaining the two-step transaction allowance. To learn why, read our guide to revoking token allowances.
Deposit in "Save" to Earn XP and Volts on the Zapper Dashboard
Season 2 of Zapper Quests & NFTs runs from September 23, 2021 to January 1, 2022. During this time, you can claim XP and Volts by making a deposit using our Save feature once a week. To learn how to do this, visit the Earn Interest Quest Walkthrough.