Defly’s New Features: vPools & Price Alerts
Defly’s team continues to deliver the definitive Algorand DeFi wallet
Welcome back to the Club, gov!
The Defly team is gearing up to release their latest update this week, and as a member of their Alpha team we received early access to these new features to provide a review of them for you.
The dev team has introduced two key new features including aggregated pools (called vPools), push notifications for price alerts, and some user-friendly UI updates.
And we don’t say this lightly — this might be their best update yet.
Check out our review below, so you know what to expect once you’re able to download the new updates for yourself.
This latest update introduces the long awaited virtual pools or vPools. vPools aggregate all the DEXs (Algofi, Tinyman, & Pact) across the ecosystem and automatically select the best price possible on your swaps. This truly delivers on Defly’s promise to make trading as seamless and user-friendly as possible.
With vPools replacing the former ‘Pools’ tab, users don’t need to select each DEX manually any longer. Instead, when you click into a vPool and select ‘Buy’ you will be presented with the best price across all DEXs automatically:
You can switch from ‘Auto’ to ‘Manual’ or by selecting another DEX by using the drop down:
As more DEXs go live, Defly will continue to save users time and money with vPools.
Push Notifications for Price Alerts
Speaking of saving users time and money, you can now enable push notifications for price alerts – and we couldn’t be more excited for this feature.
To do this: click into a vPool and select the bell icon in the upper right. Set your target price, select ‘Push’ under notifications, and press ‘Set price alert’ when you’re ready:
And that’s it. It’s that easy to stay on top of the ASA market now, gov.
Pact Liquidity Pool Tokens Enabled
If you read our post earlier this week about Pact you know that one of our favorite pools on the protocol is ALGO / DEFLY:
One of the downsides to providing liquidity in this pool previously was Pact LPTs didn’t unlock lower trading fees on Defly. That changes with this update: users who hold Pact’s ALGO / DEFLY LPTs in their wallets can now unlock lower fees on Defly while taking advantage of the high APR on Pact.
Several upgrades have been made to the UI with this latest update. Our favorites include:
‘Swaps’ & ‘Transactions (Txs)’ have been consolidated into the Wallet tab
‘Preferences’ has been moved to a new tab named ‘More’
In the ‘More’ tab, ‘Protocol’s has been added to provide a direct link to each individual DEX that can be accessed directly within the Defly app
Let’s review these one by one.
You can now access your swaps and transaction history directly from the ‘Wallet’ tab, providing a cleaner user experience:
The ‘More’ Tab has been added (replacing the old ‘Txs’ tab) where you can access wallet preferences, the app’s changelog, policy information, and direct links to each DEX:
Providing direct links out to protocols has been one of our most anticipated features. Our favorite wallet experiences on other chains have involved direct links to dApps as it often creates a more seamless user experience.
We’re excited to see how the Defly team continues to develop this in the future.
Remove Assets from Wallet
You can now remove assets from your wallet directly within Defly. While this isn’t the biggest new feature, it’s a much appreciated addition and helps to cut down on the need to use a different wallet to do certain actions.
To do this, navigate to the ‘Wallet’ tab, swipe right on the asset you’d like to remove, and select ‘Remove’:
How about you? What are your favorite new features? Let us know on Twitter @AlgorandGovClub.
Subscribe to upgrade your Algorand DeFi game
As always, thank you for stopping by the Club. Until next time, 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. 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.