Instadapp Turns on DeFi Automation, Powered by Gelato Network

Auto-refinance your debt position between Maker, Aave & Compound to avoid getting liquidated

Gelato Network
Feb 3 · 4 min read
Gelato ❤ Instadapp

Instadapp and Gelato are joining forces to release Instadapp Actions, a new service that is being rolled out today to Instadapp’s nearly 25,000 users and counting. As the first use case, users will be able to enjoy automated debt refinancing between various DeFi lending protocols to prevent costly collateral liquidations.

As one of the world’s most advanced decentralized crypto assets management platforms, Instadapp aims to make complex cross-protocol transactions simple and seamless. Up until today, Instadapp has managed more than $500 million crypto assets across leading protocols like MakerDAO, Aave, Compound, and Uniswap.

We all know that the crypto world is 24/7, but with the help of Instadapp and Gelato, this brand new service allows you to automate an important aspect of your crypto investing strategy. Using Instadapp Actions, you will finally be able to sleep peacefully at night again.

Why Instadapp Actions Is the Service That We All Have Been Waiting For?

So you finally figured out how the flash loan works, took out a DAI loan on MakerDAO using your ETH as collateral, and spent the DAI you just got on buying even more ETH. You thought ETH would go straight to the moon, and you were just about to order your Lambo from the car dealership. But in the middle of the night, the ETH price started crashing, and your debt position got undercollateralized.

As much as we want to become savvy investors, we physically can’t spend day and night optimizing our interest payments while keeping our collateral secure from liquidations by moving it from one protocol to another to avoid a hefty liquidation penalty. That’s where Instadapp Actions come in, which automatically refinances our debt and helps our portfolio reduce its liquidation price, so we don’t have to worry about the last-minute market volatility ever again.

What Does It Really Mean to the DeFi User — You?

As a DeFi user, you will benefit from paying the lowest possible interest rates on your DAI debt on MakerDAO while at the same time being able to capitalize on the significantly lower collateral requirements on protocols such as Aave and Compound.

“I believe refinancing automation will be one of the most used features to secure ETH-A vaults as it saves users from liquidation without selling any Ethereum. Automating Instadapp’s DeFi smart accounts with Gelato will enable many more equally powerful use cases in the future.” — Samyak Jain, Co-founder and CTO of Instadapp

Gelato Networka decentralized network of bots, will refinance your position before it can get liquidated on one of the protocols to help you avoid having to pay the liquidation penalty.

Gelato and Instadapp will do the heavy lifting for you, monitoring prices and automatically reacting to changes in the ETH price. We know you have a busy life, and we want to make sure that your portfolio stays on track, so you can focus on whatever is more important to you or just relax.

The assets stored in your Instadapp DeFi Smart Account will be moving fully autonomous between the most liquid lending protocols, such as MakerDAO, Aave, and Compound, based on where the most favourable liquidation prices are for your debt position.

“Decentralized automation is one of the missing pieces of DeFi and blockchain today, using Gelato, projects like Instadapp can finally do it in an easy, reliable, and trustless way.” — Matthieu Marie Joseph, Legendary Member at Gelato Network

Ready to refinance your auto loan? Go to http://defi.instadapp.io/makerdao and try Instadapp Actions now.

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 a protocol that automates smart contract executions on Ethereum. We are building the underlying infrastructure enabling reliable automation on top of Ethereum and with it a key part of the Web3 middleware stack, enabling trustless, automated flows of value between all smart contracts and upcoming Layer 2 networks.

Gelato Network

Gelato — Ethereum’s Automation Protocol