Defly New Features: V1 is Finally Here
An exclusive first look at the new features launching later this week!
Welcome back to the Club, gov!
Defly is officially shedding its beta label later this week and there’s a lot of exciting new updates.
This latest update marks the completion of Defly’s security audit by Kudelski Security and includes new partner integrations. This includes Humble’s integration within Defly’s DEX aggregation features as well as Defly’s integration into dApp’s via WalletConnect.
And the Official Defly Manual, created in partnership between Defly and Algorand Governors Club, is finally here to help you become a Defly pro!
Keep reading so you know what else to expect later this week.
Security Audit Complete
If you haven’t tried Defly yet because it's been in beta, this latest update is the one you’ve been waiting for.
After thousands of hours of testing from users and core developers as well as a successful security audit by Kudelski Security, the beta label has finally been shed from Defly! Now you can enjoy the app with more peace of mind.
And for any of you white hat hackers, there’s currently a bug bounty going on that can pay up to $100,000 to anyone who finds a critical vulnerability in this latest version.
Starting this month, all major Algorand dApps will list Defly via WalletConnect integrations – meaning users will finally be able to use Defly as their main wallet across the ecosystem.
If you want to test this feature out, both Pact and Alammex have already integrated with Defly.
Navigate to Pact or Alammex, select “Connect wallet”, and choose “Defly” from the list:
Select the “QR Code” tab and choose “Copy to clipboard” to copy the WalletConnect code:
Open up the Defly App, navigate to the “More” tab, select “WalletConnect”, and select the “+” sign in the upper right:
Paste the code in the field and then select “Connect” to finish this process. When you navigate back to Pact or Alammex, you’ll be connected to the dApp with Defly.
We’re excited for the rest of Defly’s partner integrations to go live in the coming weeks and can’t wait to begin using the wallet more. In the meantime, you can use Pera’s WalletConnect integration to connect Defly to any dApps that don’t have the integration live yet.
Speaking of integrations…
Humble is now officially integrated within Defly’s DEX aggregator features: auto routing & combo swaps.
When trading, Humble’s prices will now be taken into consideration to ensure you get the best price on your trades across the ecosystem.
Gov Tip: Humble purchases will also be viewable in the interactive Buy/Sell delta feature within Defly. If you want to learn more about interactive Buy/Sell delta, check out the Official Defly User Manual.
Weekly Moving Averages Updated
With this latest update, you can now choose between Simple Moving Averages (SMA), Weighted Moving Averages (WMA), and Exponential Moving Averages (EMA) when in candlestick charting:
This provides you with more tools to navigate the market seamlessly and quickly, and pairing this feature with price alerts will provide you with the ability to make calculated decisions on your trades.
Gov Tip: Use the moving averages to help you set your buy and sell alerts like you would when trading equities.
Price Impact Tolerance
With this latest update, you can now modify your price impact tolerance from “Preferences”:
Your price impact tolerance defines the unfavorable price increase when trading on small pools. You can choose from 10%, 25%, 50%, 100%, or any (not recommended). With the ability to modify your price impact and slippage tolerances within Defly, you now have more control over your trades.
How about you? What new features are you most excited about? Let us know in the comments below.
And don’t forget to check out the Defly Official Manual if you need help navigating the app.
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As always, thanks for stopping by the Club. See you around, gov!
Disclaimer: This isn’t financial advice! As we say in crypto, don’t trust – VERIFY! Do your own research and don’t ever invest more than you’re willing to lose. Like any DeFi project, Defly comes with risks – especially in its Beta form. The project can fail, smart contracts can be hacked, assets could be compromised, users can be exposed to impermanent loss (if they provide liquidity to unlock lower fees), etc.
Be safe out there and make sure you do enough research before you decide if Defly is right for you.