1inch partners with Beefy
The partnership will enable users to easily get into and out of Beefy vaults with any tokens.
The 1inch Network is happy to announce a partnership with Beefy, a multichain yield optimizer, under which the 1inch API will power ZAP V2, a tool enabling users to enter Beefy’s yield-earning products from any asset.
“We think 1inch is the perfect partner to help us deliver on our ZAP tooling,” says Weso, head of developer operations at Beefy. “Querying 1inch’s public API, the Beefy application can display the rates offered by 1inch to our users, to give an accurate picture of how much it will cost to enter our vaults in one click.”
“We are glad to collaborate with Beefy, as this partnership facilitates better user experience, which, in turn, will help to onboard more users to the DeFi space,” adds Sergej Kunz, 1inch co-founder.
The partnership is centered on using the 1inch API to power a new version of Beefy’s ZAP, a tool enabling users to receive attractive returns on Beefy’s yield-earning products without handling any coins except those they already have in their wallets.
The 1inch API now powers Beefy’s ZAP V2, available on BNB Chain, Polygon, Optimism, Arbitrum, Fantom, Avalanche and Aurora.
When a user chooses a vault and clicks on the “Select Token” drop down menu on the “Deposit” tab to choose the asset they want to deposit with, the Zap Route section will show them a route suggested by 1inch and Beefy. The user will be able to see an estimate of how much they will receive after all costs are deducted and choose their preferred slippage levels.
To celebrate the launch of ZAP V2, Beefy is hosting a promotional launch party in January, where users can take advantage of the tool with no added fees. After that period, a 0.05% fee will be added to each transaction.
In addition, Beefy will be running a further promotion for the duration of the launch party where ZAP V2 users on Optimism will receive a share of a special distribution of 5,000 OP tokens.
Stay tuned for more news about the 1inch Network’s partnerships and integrations!