Welcome again :) These days I'm having a little bit more time so I want to share some of my little knowledge with you :)

Today I wanna show what DeFi Saver is, and how the new implementation of ''Recipes'' works. In a nutshell, this wonderful tool allows you to operate through DeFi platforms in a single step, saving many fees, time and stress :) Have a good read, and hope you enjoy it!

What you'll read about?

• Key concepts of DeFi Saver operation
• Tools and advantages of the Recipe Creator

Intro

DeFi Saver, an asset management application for the decentralized finance market, has just introduced a new feature called "Recipe Creator", which allows users to put together various actions on multiple protocols at the same time, creating a single transaction. However, before delving into this topic, it is worth taking a general overview of how DeFi Saver works, in order to better understand the concepts.

Translated with www.DeepL.com/Translator (free version)

DeFi Saver: what is it?

DeFi Saver is a decentralized finance application that supports some of today's most popular protocols, including Aave, Compound and MakerDAO. It is an asset management platform, thanks to which you can manage your positions with leverage and deleverage tools (called Boost and Repay).

By operating on several protocols at the same time, the user is able to have a clearer view of all the tools at his disposal, without having to go from protocol to protocol. Specifically, the team focused a lot on the development of MakerDAO, where there is a minimum collateralization ratio which, if it drops due to price drops (in ETH or BAT), is liquidated and used to repay the debt created in the protocol.

In this sense, DeFi Saver aims to solve this problem through CDP Automation, which is a smart-contract-based system that automatically manages the collateralization ratio. Thus, the user will be protected from liquidation and automatic increase of leverage.

In addition to being able to manage your leverage positions, you can convert your borrowed or lent assets using the Loan Shifter, earn interest on your DAIs through the Smart Savings functionality and convert your tokens in the integrated Exchange. However, DeFi Saver is mainly used to manage one's leveraged positions across multiple protocols.

In addition, there are also additional tools such as the automatic Gas Fee calculator, which recommends the most convenient amount of Gwei at the moment. In short, DeFi Saver is the perfect tool for those who want to keep everything under control in a simple and intuitive way. In addition, the Recipe Creator makes everything even easier.

Recipe Creator: how does it work?

The operation of the Recipe Creator is very simple: its aim is to allow very complex transactions to be carried out as quickly as possible, without having to jump from one protocol to another and, above all, without the risk of making mistakes. You are faced with a dashboard with commands on the bottom, which you move and position on the top pane.

DeFi Saver.com

In the image, we see how in a few steps, the user opens an ETH-Vault and, after converting to Wrapped ETH, replenishes the Vault and then generates DAI. All this is done using the MakerDAO protocol and Utility features in a matter of seconds. This is possible thanks to the presence of preset commands which, if you prefer, can also be written manually.

For example, if you write "borrow 100 Dai from Aave v2, sell DAI for UNI", DeFi Saver will borrow 100 DAIs from the Aave v2 protocol and then sell them for UNI, all automatically. This is very convenient at times when the market is favorable and helps the user to prevent unpleasant mistakes. Incidentally, there are also ready-made ''recipes'' that operate on several protocols at the same time.

DeFi Saver.com

For example, the Mine COMP using DAI "recipe" allows you to open a leveraged DAI/DAI position, but safe from liquidation and with maximum COMP drawdown, using the dYdX and Compound protocols. At the moment, the Recipe Creator allows you to operate on MakerDAO, Compound, and Aave v2, as well as Aave v2 and dYdX flash loans and swaps using the 0x API. Support for Uniswap V2 LP and Reflexer will also be released shortly, and then expand to other major ones.

In case you want to get used to the new tool, DeFi Saver has also integrated a simulation function for Recipe Creator, so that the user can get familiar with the new feature and manage it better. Obviously, everything around DeFi Saver and Recipe Creator has been checked and approved by Consensys Diligence and Dedaub after the auditing sessions necessary to ensure maximum user safety.

Conclusions

The world of decentralized finance can be very complicated for newcomers, who often stay away because they can't use the tools properly.

Platforms such as DeFi Saver and features such as the Recipe Creator, however, can make it much easier.

The new approach is one of automation, speed, and simplicity, and development teams seem to be making great strides towards achieving this goal.

By keeping up to date and using innovative tools like DeFi Saver, you not only save valuable time but also avoid mistakes that could make a difference to your capital.

What do you think about this tool? Did you already know it? Let me know in the comment and feel free to add suggestions :)

*I already posted this article in my original language, Italian, on theledger.it. You can check it here if you want :)