Gelato Network, an automated smart contract protocol on Ethereum (ETH), has partnered with decentralized finance (DeFi) aggregator Zerion to bring better liquidity management for users when interacting with decentralized exchanges (DEXs) like Uniswap.
Under the new integration, Zerion’s more than 200,000 monthly active users are able to automatically manage their Uniswap v3 positions.
According to an announcement on Tuesday, Gelato Network commented: “With this integration, Zerion has become the go-to DeFi aggregator to natively offer fungible Uniswap v3 LP positions at a massive scale”.
Gelato Protocol Brings Liquidity Management to Zerion
Gelato Network provides solutions to liquidity challenges caused by extreme price volatility in the cryptocurrency industry. Wild price swings make retail liquidity providers difficult to offer concentrated liquidity on DEXs which might get them into significant risks.
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,” the company added.
Meanwhile, its partner, Zerion, has emerged as a popular company in the DeFi market. Since its launch, the company has collected over $750 million in volume.
The Decentralized Finance Sector Continues to Explode in Popularity
Recently, the Ethereum-based DeFi aggregator has successfully closed the fundraising at $8.2M in a Series A round led by Mosaic Ventures along with the participation of Digital Currency Group and Blockchain.com Ventures.
In addition, executives presenting for Mosaic Ventures and Placeholder also have participated in the board of directors of Zerion after the investment.
The DeFi aggregator is set to support other popular blockchains and layer twos for DeFi users during the third quarter. DeFi continued to appeal to capital and new users in the second quarter even though digital asset prices saw a fall.
According to ConsenSys’ new research, DeFi protocols had been used by 2.91 million Ethereum addresses. Non-custodial wallets also have seen significant user growth. MetaMask has recorded 8.5 million monthly active users by the end of July.
