Swap your position from Maker to Spark in 1-tx
We release Position Swap feature to simplify managing positions across various DeFi protocols.
Managing positions across various DeFi protocols can be complex, costly, and inefficient due to transaction fees and operational frictions until now.
Today, we release our Position Swap feature to simplify managing positions across various DeFi protocols. Due to transaction fees and operational frictions, managing positions across various DeFi protocols can be complex, costly, and inefficient. We addressed these challenges and facilitated switching between different positions across different protocols.
Initial Rollout
As part of our initial rollout, we're excited to announce that you can swap your positions from Maker to Spark using a streamlined interface integrated into Summer.fi. An extended Position Swap, scheduled for release in the forthcoming weeks, will enable users to swap their positions between Maker, Spark, Aave v3 & Morpho Blue.
Benefits of using Position Swap instead of changing manually
Users benefit from reduced transaction costs, including gas fees and swap costs such as price impact, slippage, and Summer fees. Minimizing the number of transactions needed for protocol swapping will save time and gas.
Switching protocols allow users to always be in the most beneficial financial position. This flexibility is crucial in the rapidly changing DeFi market, where the optimal protocol choice can shift frequently due to fluctuating interest rates and market conditions.
Explore Spark's range of automated strategies to optimize your time and risk-management experience.
There are 5 automations available for Spark, including Stop-Loss and Trailing Stop-Loss for risk management, Auto-buy & Auto-Sell for automated collateral management, and Partial Take-Profit for profit-taking. In addition, Spark has an incoming token airdrop, and some pools are eligible! Look for the ✨ in Summer.fi to know which ones qualify for the airdrop.
What happens under the hood?
Our Position Swap feature uses flashloans and our smart contracts to close the existing position and open a new one using a different protocol. This process includes necessary swaps for collateral and/or debt tokens, ensuring a smooth transition between positions.
Summer.fi's implementation focuses on user-friendliness and efficiency. Our UI provides detailed comparisons of rates, loan-to-value ratios, and protocols before initiating a swap, offering a superior user experience.
How to Swap between Maker and Spark
You can access this feature by navigating to their current position on Summer.fi and selecting the "Position Swap" option. This simple, one-step process is designed to be intuitive and user-friendly.
What comes next?
The ability to swap positions within Summer.fi will continue to evolve and expand its features. Future updates will focus on integrating additional protocols, enhancing user interfaces, and incorporating advanced risk assessment tools to aid users in their decision-making processes further.
Getting in touch
If you have any questions regarding Summer.fi, contact us at support@summer.fi or our social media.