Calgary, Canada, August 19, 2024, Chainwire
Portals Zap and Asset Swap Integration Brings One-Click DeFi Strategies to ShapeShift’s Multi-Chain Platform
Portals, a leading provider of low-code decentralized finance (DeFi) integration solutions, today announced that its advanced technology is powering “Shifts,” a new feature on ShapeShift, the multi-chain DeFi platform and wallet. This collaboration is set to revolutionize access to decentralized finance, making it more accessible to both experienced cryptocurrency users and those new to the space.
Decentralized finance offers diverse opportunities, but its complexity often acts as a barrier to entry. Typically, moving between different DeFi assets and positions requires multiple confusing transactions. Portals’ asset zap and swap integration removes this complexity, allowing ShapeShift users to execute sophisticated DeFi strategies with unprecedented simplicity. Through the “Shifts” feature, users can now seamlessly transition from any EVM-compatible asset directly into a DeFi position, or move between different DeFi positions, all within a single transaction.
“We’re excited to see our technology power ShapeShift’s ‘Shifts’ feature,” said Suhail Gangji, Co-Founder of Portals. “This integration exemplifies the power of our swap and zap solution to simplify DeFi interactions. By abstracting complex processes into an easy-to-use API, we’re enabling platforms like ShapeShift to offer a truly next-level DeFi experience.”
Key benefits of integrating Portals with ShapeShift include:
- One-click functionality for complex DeFi operations
- EVM-compatible multi-chain support including, Polygon, BSC, Optimism, Base and Arbitrum
- Optimized one-click user experience for DeFi strategies
- Greater accessibility and easier onboarding For a wider range of cryptocurrency users
- Gas savings and solid protection against price shock and slippage
The launch of “Shifts” on ShapeShift marks a major milestone in Portals’ mission to simplify blockchain interactions and make DeFi more accessible. This integration is a key component of ShapeShift’s broader ecosystem strategy, which includes collaborations with other notable DeFi projects such as Yearn, Lido, and Ethena.
“We’re thrilled to partner with Portals to launch ShapeShift’s ‘Shifts’ feature, which represents a major leap forward in making DeFi more accessible and intuitive for our users. By integrating Portals’ advanced swap and zap technology, we’re enabling seamless, one-click DeFi interactions that eliminate the complexities traditionally associated with decentralized finance,” said Hpayne, Marketing and Protocol Relations Workflow Lead at ShapeShift. “This collaboration aligns perfectly with our mission to empower users to navigate the multi-chain world with ease and confidence.”
The integration of the Portals API is expected to drive increased adoption of DeFi strategies among ShapeShift’s user base, facilitating easier interaction with various DeFi protocols including yield aggregators, lending platforms, liquid staking derivatives, and more.
ShapeShift’s “Shifts” feature is now available to all ShapeShift users via the web and mobile app.
To learn more about Portals and its DeFi integration solutions, users can visit Portals.Fi.
About portals
Portals offers a comprehensive low-code DeFi integration solution, including a Swap & Zap API that enables complex multi-chain transactions and a Data API that offers real-time and historical insights into DeFi assets. Supporting over 200 protocols across multiple EVM-compatible chains, Portals simplifies DeFi operations for developers and users alike, offering features such as one-click functionality, robust slippage protection, and broad asset coverage.
About ShapeShift
ShapeShift, founded in 2014, is a leading DeFi platform that offers a secure and seamless interface for trading and managing digital assets across multiple blockchains. Powered by THORChain and other leading DEXs such as CoW Protocol, LiFi, and others, ShapeShift offers users an optimal aggregated DeFi experience with features such as interest-free lending, non-custodial trading, LPing, and streaming swaps in addition to an easy-to-use wallet interface. ShapeShift is dedicated to enabling users to maintain full control over their crypto assets while navigating the rapidly evolving multi-chain landscape.
ContactCo-founderSuhail GangjiPortals[email protected]
This article was originally published on Chainwire
