The Gelato-Zerion partnership will enable Zerion’s retail users to provide liquidity and also to assist users better manage liquidity while using DEXs like Uniswap.
Gelato Network, a system that automates smart contract executions on Ethereum (ETH), has partnered with Zerion, a decentralized finance (DeFi) aggregator, to assist users to better manage liquidity while using DEXs like Uniswap.
Gelato Network announced Tuesday that the arrangement will allow Zerion’s approximately 200,000 monthly active users to have their Uniswap v3 positions managed automatically.
“With this integration, Zerion has established itself as the go-to DeFi aggregator for natively offering fungible Uniswap v3 LP positions at scale,” they stated.
Gelato Network was created to address the liquidity issues that have arisen in cryptocurrency markets as a result of high price volatility.
Price spikes as wild as the ones we experienced in May make it difficult for retail liquidity providers to offer focused liquidity on DEXs without taking considerable risks. The firm explained:
“DApps powered by Gelato Network address this shortcoming, by allowing users to have the same capabilities as professional liquidity providers by automating the process of fee compounding and rebalancing around the current price.”
In the DeFi sector, Zerion has become a popular aggregator. Since its introduction, it claims to have powered over $750 million in volume.
Last month, Zerion completed an extremely successful Series A fundraising round managed by Mosaic Ventures, with Digital Currency Group and Blockchain.com Ventures as participants.
Despite a significant drop in digital asset prices, DeFi continued to attract cash and new customers in the second quarter.
According to fresh research from ConsenSys, DeFi protocols were employed by 2.91 million Ethereum addresses as of June 30.
By the end of July, MetaMask had 8.5 million monthly active users, indicating that non-custodial wallets had seen tremendous growth as well.