Here’s How Gelato Integrations Help Supercharge Instadapp
Instadapp is a DeFi powerhouse that ranks 4th in TVL with $12 billion locked in its protocol. As one of the first dapps to utilize Gelato Network, Instadapp has been able to leverage the power of automation in a variety of ways including protecting Maker vaults, bridging Aave positions across chains, and using G-UNI for their liquidity mining program.
Looking back on the progress, we spoke with community manager Steven Zapata, better known as ‘Seb’, on the value that Gelato and Instadapp have created for users.
How did you become involved in building in the blockchain space? What are you working on now?
Instadapp was started in ETH India 2018, at the time Sowmay and Samyak were looking to make the experience of borrowing from MakerDAO easier. They accomplished this by abstracting away the number of transactions and building the standard we see now where users name their collateral and the amount of DAI/debt they want to generate.
How are you utilizing Gelato automation?
Instadapp first built out an automatic refinancing solution with Gelato, this first automation would take ETH-A vaults at risk and refinance them into a different protocol using Instadapp’s Multi-Protocol Refinancing tools.
We also utilized Gelato for accomplishing cross-chain migration of assets and liabilities; in this case, we moved users’ funds from AAVE v.2 on Ethereum to AAVE-Polygon Market on the Polygon Network. During our token launch, we used G-UNI for bootstrapping our liquidity and have found great success with this pool.
How would you describe your experience using Gelato? What benefits have you seen?
Gelato is a powerhouse for function and utility; automation brings additional value to our platform by allowing assets to work more efficiently and enhances the experience for users.
What cool use cases do you see Gelato being used for in the future?
Automation is still an untapped force in DeFi; there are lots of places where automation can facilitate greater capital efficiency. We see Gelato playing a role in cross market/cross chain price stability and automating away a lot of price inconsistencies by leveraging newer technologies with more complex parameters for automation.
About Instadapp
Instadapp is a DeFi portal that aggregates the major DeFi protocols using a smart wallet layer and bridge contracts to make complex cross-protocol transactions simple and seamless. Up until today, Instadapp has served and managed over $500 million crypto assets across leading DeFi protocols like Maker, Aave, Compound, and Uniswap.
About Gelato Network
Gelato Network is Web3’s premier automation network, enabling developers to automate a wide variety of arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum. Examples of use cases developers have built on top of Gelato include Limit Orders on AMMs like Uniswap, automatic compounding of yield farming vaults, Aave liquidation protection, MakerDAO debt ceiling updates, automated liquidity management, and even the petting of Aavegotchis.
Our ultimate goal is to automate everything and by giving developers the reliable tools they need to do this, we can empower their users to get the most out of their Web3 experience.
► Check out what we’ve been working on at 🍦 https://gelato.network/🍦
Connect with us:
