Catching Up with DeFi Saver

There's a Maker $DAI borrow position I've been maintaining for years.

With markets how they've been lately, I recently needed to trim that debt down some to stay ahead of liquidation. I had used a smaller protocol to manage the position previously, but when I returned there, its app was completely changed.

The project wasn't unusable, of course, but I wanted a more intuitive experience. And after some thinking, I remembered I could use DeFi Saver—one of the longest-running DeFi asset management platforms—as an alternative frontend. It automatically recognized my old Maker position, so I popped right in and took care of business.

Before this, I'd last used DeFi Saver a few years back. But this new experience reminded me that it's an awesome resource for anyone who routinely interacts with lending protocols in the Ethereum ecosystem.

A lot has changed since my last visit, of course. For starters, DeFi Saver now supports the Arbitrum, Base, and OP Mainnet networks along with Ethereum, expanding its reach for users of the top L2s' DeFi scenes.

Plus, most importantly, the platform has continued to add new lending protocol integrations. Some of the projects it's most recently added support for include Fluid, Liquity V2, Euler V2, and Sky (formerly Maker).

On top of basic position management, DeFi Saver lets you interact with lending protocols in bespoke ways, too. For example, its Fluid dashboard is tailored so you can easily lend to the Fluid Liquidity Layer, the Liquity V2 dashboard lets you simply stake LQTY, etc.

Beyond these individual integrations, DeFi Saver has some additional core offerings. Its Exchange lets you dollar cost average or place limit orders across top DEX aggregators. With Loan Shifter, you can simply move your borrow positions across DeFi, e.g. from Compound to Aave. And the Recipe Creator lets you build and execute yield strategies using flash loans.

What's also nice is that while DeFi Saver has advanced capabilities, you don't have to be a pro DeFi user to experiment and learn the ropes here. The platform offers a Simulation Mode, which will give you 100 fake ETH to tour its features, so you don't need any funds or even a wallet to dive in.

If you've never used DeFi Saver before, I recommend starting with Simulation Mode to get comfortable with the basics before trying anything onchain. On app.defisaver.com, logged-out users are immediately greeted with a "Connect wallet" page—just press the "Start Simulation" button at the bottom of this screen to proceed.

At this point, click on your simulated address in the top-right of the DeFi Saver app, press "Create Safe wallet," and confirm the creation transaction. Doing this will create a simulated smart wallet that will serve as the foundation for any test positions you create on the platform.

Now, you'll be ready to start exploring. Surf through the left side of the app to find and interact with individual DeFi protocols or some of the other core offerings, like the Recipe Creator.

Keep in mind that in Simulation Mode, you can set up positions just as you would if you had real ETH. For example, if you click into the Aave dashboard, you'll see a "Create" button. The ensuing UI lets you set up borrows or leveraged positions with your test ETH, after which you can explore further by trying the Loan Shifter or putting your test debt to use in other protocols on DeFi Saver.

Also, back on the main Aave dashboard you can do all the position management basics like repaying, supplying more collateral, etc. But you can also explore the "Automate" tab to test implementing automated strategies, like setting up stop losses or auto-repays.

DeFi Saver is pretty powerful. If you even just dabble in DeFi, it's worth exploring for its utilities. And it's also one of the few apps in crypto today that you can study and master before even spending a single gwei onchain through it, thanks to its Simulation Mode.

Plus, DeFi Saver continues to iterate. They've got a new streamlined yield hub resource incoming, for instance, and there's more good stuff to follow after that if the team's track record is any indication. Keep them on your radar.