Zappy Decentralized Exchange Review

Zappy is a decentralized exchange and an automated market maker. It focuses on creating a solid foundation with its native token, limit orders, bridge, and diverse farms. We don’t know when this platform was launched and it is unclear who the developers behind this system are.

Zappy overview 

Here are the key features of this DEX:

• Cryptocurrencies supported

You can quickly exchange tokens on this DEX for a small fee. Some of the supported crypto coins include TLOS, WTLOS, WBTC, ETH, USDC, USDT, AVAX, BNB, and FTM.

• Native token

The native token of this platform is known as ZAP. Users can earn these tokens by depositing LP tokens in farms. The total max supply of this coin is 27,000,00. 

• Funding methods

For conducting transactions on the Telos blockchain, you need to pay gas fees in terms of TLOS tokens. Also, you need to hold the token you wish to swap in your wallet.

• Wallets supported

You must connect your wallet to the exchange in order to conduct swaps. Currently, the platform only supports the Metamask wallet. You need to add your custom RPC details to this wallet to add Telos EVM Mainnet.

How does Zappy work?

You can perform the following actions on this platform:

1. Swap tokens

You can swap one token for another through automated liquidity pools. The trade price may differ from the time of request and the time of order. In some cases, you need to pay 5% more due to Tokenomics.

2. Add liquidity to pools

You can add liquidity to token pairs in order to earn a share of the swapping fees. Liquidity providers also receive LP tokens that represent a proportional share of the pooled assets. You can add liquidity to an existing pool as well as a new pool. 

3. Yield farming

By depositing LP tokens in farms, you can earn extra yields. For each farm, you will be able to see the APR, the pool weight, and the liquidity. This is a great way to earn ZAP tokens.

4. Stake ZAP

You can convert ZAP to xZAP by staking the former. With time, the value of xZAP will increase, thus letting you earn more ZAP tokens. You can unstake your tokens whenever you wish.

What can you buy on Zappy?

This platform operates on the Telos blockchain. It is a fast and scalable network that is governed by a community and is eco-friendly. On this DEX, you can buy tokens like ZAP, TLOS, USDC, WETH, USDT, WBTC, BNB, FTM, MATIC, and AVAX.

Is Zappy safe? 

This platform does not ask you to share your recovery phrase or private key. We were unable to find any audit reports for this DEX. So it seems security is still a grey area for this decentralized exchange.

User reviews 

At this moment, there are no user reviews for this platform on third-party websites. Since it was launched quite recently, not many people are aware of its existence. 

Zappy fees, compatible wallets, and transactions 

At this moment, Zappy only supports the Metamask wallet. For swapping tokens on the platform, there is a 0.2% trading fee. From this, 0.17% goes to the liquidity providers as incentives and 0.03% is used for buying back ZAP and distributing it to stakers.

What are the ways to trade on Zappy?

The DEX has a simple swap interface where you can trade one token for the other. To trade tokens, simply navigate to the swap page, select the token you wish to swap and the one you wish to receive. You can also select the slippage tolerance and the transaction deadline. There is also the option of disabling multi hops to restrict swaps to direct pairs only. After selecting the tokens, you will be able to see the price, price impact, liquidity provider fee, and route.

Customer support 

There is no format customer support team for this DEX. If you require assistance, you can check out the Guide for quick solutions. Alternatively, you can contact one of the designated moderators on Telegram or Discord.

Should you trade with Zappy?