Image for post
Image for post

DeFi is moving fast. Like crazy fast. 🏎

So fast, the user experience of DeFi apps has struggled to keep up, leaving a large barrier for new users.

There are already a number of projects that seek to improve this UX: Argent does this by storing funds in contract wallets, while InstaDapp similarly uses proxy contracts.

DeFi777 approaches this differently, by wrapping the tokens themselves into super-charged ERC-777 tokens!

Earlier this year, a prototype of DeFi777 was built for ETHGlobal’s HackMoney hackathon. This demo showed how ERC-777 wrapper tokens could provide a radically different user experience for DeFi.

Months later, it’s time to show off the v1 of DeFi777, which is cheaper, safer and much more powerful! 💥

New Interface 👨‍🎨

However, interfaces are still helpful, especially when exploring new projects! DeFi777 now has a shiny new dapp at for easily viewing DeFi777 assets and interacting with various DeFi adapters.

Image for post
Image for post
Does the UI look familiar? We stand on the shoulders of giants.

The DeFi777 dapp also allows anyone to generate a ERC-777 for any token, in the same style as generating new Uniswap pools. The site will soon provide the ability to generate new adapters as well (such as new Uniswap trades, Balancer pools, etc).

Want to try out DeFi777 for free? Switch your wallet to the Kovan testnet!

Image for post
Image for post

Swap, Pool & Lend 🔀

Uniswap adapters allow easy trades between various assets. Sending ETH or any DeFi777 token to dai.uniswap777.eth will swap that asset into Dai777.

Assets can also be leant out and earn interest using Compound (support for Aave coming soon). Simply send DeFi777 tokens to compound777.eth and receive wrapped cTokens.

Image for post
Image for post

Users can also send tokens to yearn777.eth, depositing the assets into yEarn vaults to maximize yield.

Assets can also be added to liquidity pools on various protocols, such as Uniswap, Balancer and Curve. For Uniswap pools, DeFi777 even allows swapping into pools from a third token, similar to “zapping in” on apps like Zapper or Zerion.

This means, for example, you can send Dai777 to eth-wbtc.uniswap777.eth, and the Dai will be automatically be swapped and added liquidity to the ETH/WBTC Uniswap pair. This could take up to 4 transactions if done manually through the standard Uniswap interface.

Yield Farming 👨‍🌾 🚜

Not only does this allow easy 1-transaction yield farming, but it effectively “tokenizes” yield farms. These yield farming tokens can be freely traded in AMMs or even on Layer 2s.

Image for post
Image for post
A user farming CRV tokens from Curve y pool, and BAL tokens from a Balancer pool.

Security 🔒

Thankfully, this project’s attack surface is quite small: only one contract (Wrapped777) custodies funds, and it’s simply a modified version of OpenZeppelin’s ERC-777 contract.

Additionally, a bug bounty for DeFi777 is now available on Immunefi.

Image for post
Image for post

Still, this project should be treated as a beta project, and large amounts should not be wrapped until the app has been running for a significant period of time.

Support the project 💸

Want to follow the project? Join our Telegram group!

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store