Fabric Launches ZAP Powered by Jupiter and Raydium

By Mark JurgensDeFi

Zap aggregates more than 200 liquidity pools across Solana.

Pool Investing Made Simpler

Fabric releases ZAP, a new feature to swap single tokens directly to LP tokens.

The synthetic asset protocol announced the 1-click swapper on March 29 via Twitter. It allows users to enter liquidity pools on Raydium and Orca (and soon in Saber). 

“This means no more long-winded token swaps or complex math when entering pools on Solana. Just pick the token you want to sell, the pool you want to enter and voila. Bodie’s your uncle!” shared the team on the announcement blog

Source

Under the hood, what seems like a single transaction, is the platform automatically trading the selected token into equal amounts of the liquidity pool token pair. The second step of the process adds the two tokens to the liquidity pool, generating the required LP token. ZAP uses Jupiter swap aggregator SDK to power the token trade.

Fabric gets a 0.5% fee each time the swapper is used. The captured fees will be destined to buy $FAB tokens from the open market, used in Airdrops, or burnt. The community DAO will ultimately vote on how these funds are spent. 

What is Fabric?

Fabric is a decentralized synthetic asset issuance protocol built on Solana. Its synthetic assets are collateralized by Fabric tokens (FAB) that must be locked in Fabric pools to ensure that SPL synthetics are minted and distributed. Once stamped, SPL synthetics can be traded on the Serum DEX. 

In summary, Fabric provides tokenized synthetic assets that use an over-collateralized staking pool, the central order book of Serum decentralized exchange, and a unique Oracle architecture. 

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Source : web3wire.news

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