DFS Discover now includes NET APY estimates

Alex -

When we said we had a lot in store regarding DeFi Saver features and updates, we weren’t joking! Our loan Discover(y) tool just got a fresh update: you can now customize your loan searches to cater to your specific needs, according to your investment strategy.

From the start, our goal was to simplify the whole process of identifying the right markets and checking APYs, so that they can be easily visible and comparable on one page. Be it borrowing stables or leveraging, the new filtering option we implemented today directly lets you know which markets would allow you to tailor your loan searches based on:

  • The amount of collateral you want to supply and the debt you wish to borrow;
  • How high you want to leverage your initial deposit, for additional exposure.

So, what can I use the new for?

If you are yet to open a position, you can enter the type and amount of assets you want to invest, compare APYs, and even see whether the pool in question will allow for the transaction to happen.

To make things even clearer, let’s walk through a few example scenarios:

  • Let’s say you are interested in borrowing $82k worth of stables, and you’re willing to put in $100k worth of ETH. You don’t exactly know which protocol offers the highest APY, and whether it will allow the position to happen, based on its LTV.
  • With Discover’s new update, this is far less of a headache. You click on “Estimate NET APY”, input asset details, and you’ll instantly get a list of all compatible markets and their potential costs.
An example of filtering out available options for borrowing stables, on Discover.
  • The process is pretty similar if you want to make a leveraged position. For example, maybe you want to leverage $10k worth of your ETH. Simply click on the leverage tab, put the numbers down, as well as how many times you want to amplify your exposure, and voila! The only thing left is to choose the best APY conditions and create the position itself.
An example of filtering out available options for a leveraged position, on Discover.

The new feature is live, so head over to Discover, test it out, and let us know what you think in our Discord server. 

See you there! 🛟