YaspFi

Inspiration

The inspiration for YaspFi comes from the challenges that many people face with traditional finance and centralized crypto platforms. These challenges include limited access to financial services for the unbanked and underbanked, high hidden fees charged by centralized platforms, and concerns about security and transparency. YaspFi was developed to address these issues by offering a decentralized smart-wallet that enables users to store, invest, and exchange funds on multiple networks in a user-friendly and accessible manner. By leveraging blockchain technology, YaspFi aims to make decentralized finance more transparent, secure, and accessible to a wider audience.

It's worth noting that recent events have highlighted the risks associated with centralized crypto platforms. For example, the crypto lending platform Celsius Network faced backlash from customers after it was revealed that the company had been over-reporting its assets under management. Similarly, the crypto exchange FTX experienced the same, causing users to lose access to their funds. These incidents demonstrate the potential risks associated with centralized platforms and the importance of developing decentralized solutions like YaspFi that prioritize transparency, security, and accessibility for all users all over the world.

What it does

With YaspFi you can store, invest and exchange your funds on multiple networks without ever worrying about losing access. Yasp.Fi provides comprehensive analytics and risk assessment score to help users make data-based investment decisions. Our mission is to make decentralized finance more user-friendly, transparent, and accessible to a wider audience.

How we built it

To create YaspFi, the development team built multiple ERC-4626 Tokenized Vaults for various DeFi protocols, including Yearn, Aave, Uniswap and etc., while simultaneously developing the smart-contract infrastructure for the ERC-4337-based smart-wallet.

YaspFi's main feature is its ability to invest in DeFi projects painlessly using modular ERC-4626 Tokenized Vaults built on a single underlying EIP-20 token.

Additionally, the wallet includes a meta DEX aggregator, allowing users to access multiple decentralized exchanges from within the wallet, simplifying the process of investing in DeFi protocols even further.

Challenges we ran into

During the development of YaspFi, the development team encountered several challenges. One such challenge was deciding whether to support EVM and non-EVM blockchains, ultimately opting to start from L2 EVM-based blockchains first.

The team also faced a lack of reliable assets and providers statistics, which we solved by utilizing DeFiLlama and CoinGecko.

Finally, the team needed a Keeper network for investment automation and decided to create a custom solution to meet their needs.

Accomplishments that we're proud of

The YaspFi team achieved several impressive accomplishments while developing their smart-wallet. Their most notable achievement was enabling painless investments in popular DeFi protocols such as Stargate, Aave, and Curve, while also integrating to our Meta DEX exchange with top exchanges such as 1inch and Paraswap.

Additionally, they are currently collecting statistics on over 50 assets and 10 providers, providing users with reliable information when making investment decisions.

The team has also supported 12 different chains and has plans to support non-EVM and Bitcoin in the near future.

What we learned

We discovered that it can be challenging to be both blockchain-agnostic and self-custodial at the same time. This requires a deep understanding of different blockchain architectures and their nuances, which can be difficult to achieve.

Secondly, they found that the DeFi and crypto space as a whole has a lot of UX and education-related issues. Explaining technical blockchain details to users who are not familiar with the technology can be a significant challenge.

What's next for Yasp.Fi

The YaspFi team has ambitious plans for the future of their smart-wallet. Their first priority is the release of the wallet, which will provide users with a seamless experience for accessing the DeFi ecosystem. We also plan to integrate top-tier bridges and layer-zero solutions to create a cross-chain functional platform. Additionally, the team aims to build ERC4626 Vaults for the majority of DeFi protocols and introduce tokenized Vaults with multiple underlying assets.