Much like how it doesn't take a chef to follow a recipe, anyone can cook up complex #DeFi transactions with DeFi Saver's Recipe Creator.
Performing multiple actions on many protocols in a single transaction is as easy as drag-and-drop.
2/ DeFi Saver's recipes make some of the most powerful tools like flashloans available in DeFi accessible to anyone.
Flashloans let you borrow large amounts of crypto without collateral so long as the debt is paid back within the same transaction.
3/ Previously flashloans and the ability to string together a series of actions in a single transaction were only for the most technical DeFi experts.
But now DeFi Saver's Recipe Creator makes it simple and safe with their audited, reputable, and user-friendly infrastructure.
4/ DeFi Saver even makes use of natural language processing so users can just write simple instructions or sequences of instructions separated by commas to quickly create recipes.
You can type βBorrow 100 USDC from Aave, Swap 100 USDC for DAIβ and it forms the recipe. It's neat.
5/ If you need help coming up with ideas, you'll find plenty of inspiration in the Recipe Book filled with pre-made recipes.
The Recipe Creator currently supports Aave, Compound, Maker, Reflexer, and Uniswap V2, and the DeFi Saver team plans to integrate new protocols regularly.
6/ What common DeFi tasks could you make more efficient by whipping up a quick recipe? Try it out for yourself and find out. bit.ly/3vZU0el
Learn more about the DeFi Saver's Recipe Creator and other cool features by diving into the latest drop bit.ly/2T3ULEI
7/ This is paid promotion as part of our DeFi Pulse Drops series where DeFi Pulse works with projects to launch their new features and builds. If you want us to work with you, please get in touch!
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2/ DeFi Saver's new Recipe Creator is a transaction builder interface for creating and executing "recipes."
π§βπ³ With the Recipe Creator, you can build complex transactions interacting with multiple DeFi apps to use flashloans, borrow, lend, swap, and more in a single transaction.
3/ Now anyone can become a DeFi superuser wielding an arsenal of powerful protocols and tools with only a few clicks.
Simply drag and drop actions in the order you want them and DeFi Saver handles the rest, executing your recipe in a single transaction.
Imagine a liquidity pool like a magic Hot Pot with 2 flavors of soup: $ETH and $LINK.
This magical Hot Pot can convert LINK soup to ETH and vice versa.
As long as the conversion rate (price) is fair, the pot maintains its tasty ratio.
2/ Some traders will take a bowl of $LINK soup so now you have more $ETH soup.
And then, a few more traders come and take some ETH soup so now you have more LINK.
Each time, they give a little back to the pot for these conversions (similar to trading fees)...
3/ There may be more or less of one flavor shifting the pot or pool ratio in what's known as Cyclical Imbalance but the pot should stay tasty as long as conversions happen at a fair rate between the two soups.
So what happens when the soup conversion rate or price isn't right?
Theta or time decay refers to the reduction in value of an option as the time to the expiration date nears.
SIREN AMM v2 mitigates theta decay loss using a Black-Scholes model for pricing.
2/ Two factors determine the price of each trade: spot price and slippage.
The spot price is determined using a Black-Scholes model, taking into account parameters like underlying price, time to expiration, option strike and implied volatility, coupled with a Chainlink oracle.
3/ Similar to other AMMs, trades will be impacted by slippage based on the size of the trade and available assets in the pool.
In other words, the larger the trade relative to the size of the pool, the higher the slippage. This slippage benefits liquidity providers of the pool.
Options traders have come to rely on tools in traditional finance that were refined over decades.
And with options being fairly new to DeFi, SIREN aims to fill a niche by building a platform suited for sophisticated options traders.
2/ To make full use of SIRENβs design which allows traders to easily swap options in and out in order to build complex positions, options traders need the necessary information to properly assess those positions.
This is why SIREN's UI displays the greeks for each option.
3/ Option "Greeks," named after the Greek letters that denote them, measure risks associated with a position.