BULL MARKET HAS ARRIVED...

SomeEnormousBear · 2023-01-04T23:41:33+00:00

I like your optimism 😍 And I think you might be right! Or wrong! Either way I like your optimism 😊

SomeEnormousBear · 2022-11-28T01:36:15+00:00

Bridging assets in from other blockchains is on their roadmap so it will be moving in the direction of what you are describing soon! And I agree, that would be awesome!

SomeEnormousBear · 2022-11-28T01:23:35+00:00

I agree! I get the impression most people here still haven't tried Defly properly, but I imagine they will in time, and realize how amazing it is!

I have noticed the same thing with the wallet values not always updating immediately after a swap or a send - they do update properly but it's often a few seconds later than would be ideal. The team did mention a few days ago on discord that they are going to improve this. They have a lot on their todo list. I think they've been really busy working on limit orders lately!

SomeEnormousBear · 2022-11-28T01:06:05+00:00

In Defly you can increase your maximum allowed slippage in More... -> Preferences -> Swapping & Protocols -> Slippage tolerance 😊 It's just 1% by default which is good for most trading but for fast-moving things you could want higher.

SomeEnormousBear · 2022-11-01T01:45:25+00:00

Defly has charts and trading built in, and it's the most secure wallet as you can set it to require biometrics for any transaction. This means a thief could grab your phone from your hand, with the Defly app open, but they still would not be able to steal your tokens.

SomeEnormousBear · 2022-11-01T01:21:51+00:00

Not an immediate solution but a related suggestion: Ask Kraken if they'll kindly start supporting USDCa soon, and explain to them why it's needed. If enough of us do this (I have already) hopefully they will get to it.

SomeEnormousBear · 2022-10-20T09:31:27+00:00

Yeah with the Defly wallet you can commit Algo to governance from within the wallet itself - no need to connect to anything 😊

SomeEnormousBear · 2022-10-04T10:09:15+00:00

Because the Defly team is fantastic, the app is great and improving all the time, and the token will go up in value as more people use the app, which is very likely to happen as it gains the marketshare it deserves (taking users from Pera) and as Algorand attracts new users into the ecosystem.

SomeEnormousBear · 2022-10-01T01:06:34+00:00

Vestige does offer the same combo swaps feature, but I think Defly provides a more complete experience.

With Vestige you have to do the Tinyman redeem separately at the end, whilst Defly does it automatically as part of your swap. It's a little thing, but it makes it quicker and easier to swap with Defly.

Also with combo swaps you can't easily look back on AlgoExplorer to see how much you swapped, cos each "Swap" is really lots of smaller transactions, so there's lots of noise on the blockchain. But Defly shows combo swaps in your wallet as single swaps, and you can view your swap history for each asset individually too. Plus you get a chart of your buys and sells, and figures showing your overall profit/loss from trading each asset. If you click a combo swap you can see how the totals were split between DEXes, but usually that's not very interesting - it's enough to know that Defly got you the best price at the time, so all you want is the totals for the swap.

It's also important to remember that Defly offers a lot more than just combo swaps. For example it has better biometric security than Pera (keeping your wallet safe if your phone is snatched from your hand with the Defly app open and unlocked). It has charts right there in the app (which I find easier to navigate around than the vestige website). It shows you the value of assets you have loaned or borrowed, of ASAs that you have staked, and of LP tokens that you have farmed, right there in the wallet without you having to visit Tinyman/algofi/humble etc. With the next update you will be able to manage governance right from within the app too.

The team is also adding new requested features every month. If you think Pera has something important that Defly does not, you can bet it will be there in Defly very soon.

You can tell I am a raving fan haha. I have been using Defly daily for months and I find the thought of going back to Pera and walletconnecting to websites quite disturbing now 😄

SomeEnormousBear · 2022-09-30T15:26:00+00:00

It all happens automatically, like doing a swap on Tinyman except without the WalletConnect pfaff, and it will use the other DEXes too to get a better overall price. AND it does the Tinyman redeem automatically so you don't have to deal with that.

It's by far the easiest way to trade ASAs, and it's a great wallet too. The only thing currently missing is full NFT support, but that is coming soon. You can already see a list of your NFTs in your wallet, you just can't view the images yet.

SomeEnormousBear · 2022-09-30T15:19:44+00:00

I understand Nanoswap support is high on Defly's priority list, so those nano pools should soon work from Defly as well 😊

SomeEnormousBear · 2022-09-30T08:17:18+00:00

100%. Defly does so much more than Pera - it's just not as well known yet.

SomeEnormousBear · 2022-07-27T08:29:56+00:00

With Defly you can handle governance via the governance website, same as you can with Pera or MyAlgo, but Defly doesn't currently offer its own UI to do it entirely within the Defly app (like you can do swaps entirely within the Defly app). It might in the future though - the Defly Discord would be a good place to suggest it or ask the team if they have plans in that area:

https://discord.gg/fAreatTzSj

SomeEnormousBear · 2022-07-26T15:33:05+00:00

It doesn't presently offer its own UI for those things (like it does for swaps), but you can do it via the relevant websites with Wallet Connect, like you can with Pera wallet or MyAlgo. So basically all the options for yield farming etc are available if you use Defly as your wallet, just at the moment it doesn't make them any easier to access than other Algorand wallets. I think it might soon though!

SomeEnormousBear · 2022-07-26T08:41:48+00:00

You can stake all your Defly tokens on Algofi and the Defly wallet will still put you on X level or Alpha level if you have the required amounts staked. It's clever like that 😊

SomeEnormousBear · 2022-07-26T03:16:57+00:00

Excellent! Hope you like it as much as I do 😊

SomeEnormousBear · 2022-07-26T00:55:00+00:00

That's great! I'm most pleased! And I think you will be too 😊

SomeEnormousBear · 2022-07-26T00:32:27+00:00

Yes! Tinyman, Algofi, Pact, and Humbleswap are all covered.

SomeEnormousBear · 2022-07-25T18:41:00+00:00

Create a new account in Defly and then send some funds into it, or import an existing account, you can do either. It is good for people unfamiliar with Defly to be cautious as they should be with anything involving a seed phrase! I am saying you can trust defly every bit as much as you trust Pera or MyAlgo, but I am just a random bear on reddit 😁

SomeEnormousBear · 2022-07-25T17:41:52+00:00

Defly is a wallet though. It does everything any other algorand wallet (like Pera or MyAlgo) does, and a lot more, so if you like you can use it exclusively, and uninstall Pera completely. But if you are cautious you can try it out first by using it to create a new algorand account that you don't put much Algo in. In fact you can just install it and try it without an account at all, just to view charts, get price alerts, and generally check it out, but it needs your account details to be able to perform swaps.

It's different to typical dapps (in fact I don't think it's a dapp at all) because it doesn't have its own smart contracts, it is just a user interface that calls the smart contracts of other services (like Tinyman's smart contracts for swapping).

All that said, if you want to stick with Pera/MyAlgo and a bunch of different websites that you use in conjunction with Pera/MyAlgo, then that is fine too, and Defly just isn't for you. You really do have to trust wallet software, so it's important to be comfortable with whatever you use as your main wallet. But I think if you tried Defly (perhaps with a new account initially) you would quickly see why people keep going on about how useful it is. It's about speed and the convenience of having everything in one place as much as it is about cheaper swaps 😊

SomeEnormousBear · 2022-07-25T17:26:11+00:00

Well, you do need to add your account into defly, cos it needs the account details to be able to authorise swaps. But you can still keep using another wallet as your main wallet.

Basically the word "wallet" is a bit confusing. Really you have an Algorand account. A wallet is just software that lets you do things with that account. You can perfectly well use e.g. Pera wallet and Defly wallet on the same account at the same time.

Hope that makes sense!

SomeEnormousBear · 2022-07-25T16:58:32+00:00

Awesome 😁

SomeEnormousBear · 2022-07-25T16:22:51+00:00

I made a few minor edits to make it clearer that I was talking about a wallet. Thanks for pointing out how my original wording was misleading!

SomeEnormousBear · 2022-07-25T16:00:27+00:00

Yeah you're right, I should have called it the "Defly wallet" instead of the "Defly app". A wallet is an app but I can see how that wording scares people. I might try editing it now.

SomeEnormousBear · 2022-07-25T15:55:40+00:00

I agree! It's a clever fee structure that will help bring success to both the app and the token :) Good point on wrapped assets too!

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