Zap
Zap function breakdown
To be able to earn rewards from a farm (on Pangolin/Trader Joe for example) you first need to provide liquidity. While this can be a trivial task for experienced users, it can also be a tedious process for newcomers, and would require to go through several tutorials to even be able to do so.
This is why Cycle implemented a Zap function, allowing you to deposit AVAX directly into our vaults, saving you the time and effort of having to go a DEX to create LP tokens.
Cycle also allows you to deposit LP tokens if you already have them, so if you are moving your liquidity from another platform to Cycle, you do not need to break your LP to deposit AVAX, simply make sure that "LP" is selected when depositing.
Also keep in mind that the Zap function works both way, so you can withdraw as LP or as AVAX directly.
The goal of such a feature is to improve the experience for everyone, regardless of whether you are an experienced users, or making your first steps in DeFI.
The Zap is very straightforward to use : simply enter the amount of AVAX you wish to deposit, and click on "Deposit". You might think that the gas fee for doing so is very high, keep in mind that zapping involves multiple operations, hence the the gas fee.
Last modified 1yr ago