Portals API Powers ShapeShift’s New “Shifts” Feature, Lowering DeFi Access Barrier
Calgary, Canada, August 19th, 2024, Chainwire
Portals’ Any-to-Any Asset Swap & Zap Integration Brings One-Click DeFi Strategies to ShapeShift’s Multichain Platform
Portals, a leading provider of low-code decentralized finance (DeFi) integration solutions, today announced that its advanced technology is powering “Shifts,” a new feature on ShapeShift, the multichain DeFi platform and wallet. This collaboration is set to revolutionize access to decentralized finance, making it more approachable for both seasoned crypto users and those new to the space.
Decentralized finance offers diverse opportunities, but its complexity often acts as a barrier to entry. Typically, moving between different assets and DeFi positions requires multiple, confusing transactions. Portals’ any-to-any asset swap and zap integration eliminates this complexity, enabling ShapeShift users to execute sophisticated DeFi strategies with unprecedented simplicity. Through the “Shifts” feature, users can now transition seamlessly from any EVM-compatible asset directly into a DeFi position, or move between different DeFi positions, all within a single transaction.
“We are excited to see our technology power ShapeShift’s ‘Shifts’ feature,” said Suhail Gangji, Co-founder of Portals. “This integration exemplifies the power of our swap and zap solution in simplifying DeFi interactions. By abstracting complex processes into a user-friendly API, we’re enabling platforms like ShapeShift to offer a truly next-level DeFi experience.”
Key benefits of Portals’ integration with ShapeShift include:
- One-click functionality for complex DeFi operations
- Support for multiple EVM-compatible chains including Ethereum, Avalanche, Polygon, BSC, Optimism, Base, and Arbitrum
- Streamlined, one-click user experience for DeFi strategies
- Increased accessibility and easier onboarding for a broader range of crypto users
- Gas savings and robust price impact & slippage protection
The launch of “Shifts” on ShapeShift marks a significant milestone in Portals’ mission to simplify blockchain interactions and make DeFi more accessible. This integration is a key component of ShapeShift’s broader ecosystem strategy, which includes collaborations with other notable DeFi projects such as Yearn, Lido, and Ethena.
“We’re thrilled to partner with Portals in launching ShapeShift’s ‘Shifts’ feature, which represents a significant leap forward in making DeFi more accessible and intuitive for our users. By integrating Portals’ advanced swap and zap technology, we’re enabling seamless, one-click DeFi interactions that remove the complexities traditionally associated with decentralized finance,” said Hpayne, the Marketing and Protocol Relations Workstream lead at ShapeShift. “This collaboration aligns perfectly with our mission to empower users to navigate the multichain world with ease and confidence.”
The integration of Portals’ API is expected to drive greater adoption of DeFi strategies among ShapeShift’s user base, facilitating easier interaction with various DeFi protocols, including yield aggregators, lending platforms, liquid staking derivatives, and more.
ShapeShift’s “Shifts” feature is now available to all ShapeShift users through their web and mobile app.
For more information about Portals and its DeFi integration solutions, users can visit Portals.Fi.
About Portals
Portals provides a comprehensive low-code DeFi integration solution, featuring a Swap & Zap API that enables complex multi-chain transactions and a Data API that offers real-time and historical DeFi asset information. Supporting over 200 protocols across multiple EVM-compatible chains, Portals simplifies DeFi operations for developers and users alike, offering features like one-click functionality, robust slippage protection, and extensive asset coverage.
About ShapeShift
ShapeShift, founded in 2014, is a leading DeFi platform that provides a seamless, secure interface for trading and managing digital assets across multiple blockchains. Powered by THORChain and other leading DEX’s such as CoW Protocol, LiFi, and others, ShapeShift offers users an optimal aggregated DeFi experience with features like zero-interest lending, non-custodial trading, LPing, and streaming swaps on top of an easy-to-use portfolio interface. ShapeShift is dedicated to empowering users to maintain full control over their crypto assets while navigating the rapidly evolving multichain landscape.
