OlyZaps V2

2 min readMar 3, 2022

Lightning has struck again! We are pleased to announce that OlyZaps V2 is live!

The first iteration of OlyZaps was launched last year to allow Ohmies to easily swap any crypto assets into sOHM in one simple action. Instead of going to an exchange to get OHM then returning to Olympus to stake, Ohmies were now able to do this all-in-one transaction by “zapping” right in the Olympus app.

Through our mission to increase OHM’s utility, one of the results we find most potent is providing the best possible DeFi experience directly within Olympus. Now, we’re continuing that theme by launching OlyZaps V2 with a bundle of upgrades.

First and foremost, OlyZaps will now dispense V2 assets. No need to worry about V1 OHM vs V2 OHM tokens. If you’re unfamiliar with those differences, check out this article about our recent token migration. Plus, as an added benefit, users now have the choice between zapping to sOHM or gOHM. We’ve added this flexibility to allow Ohmies to customize zapping to their specific needs.

OlyZaps V2 now also fetches the best market rates for maximum capital efficiency. This is possible through using the 0x API for swapping into each asset. 0x API, as the liquidity endpoint for DeFi, is the most accurate way to aggregate all price data from liquidity pools for sapper assets. As if these changes weren’t enough, the developers put the cherry on top by revamping the contracts to work in some gas savings over the V1 version. So in short, more flexibility with less cost.

As we continue to improve this convenient facet of utility, we’ll look to integrate external APIs for using OTC trade pools to get even better zaps.

Until then, get zappin’ now in the Olympus App ⚡️

About OlympusDAO

Olympus is a decentralized financial reserve protocol that provides sustainable compounding interest through its community-owned and protected treasury.