Zap is a feature that helps users swap quickly and easily. Kronos DAO's Zap is divided into 'Stake-Zap' and 'Mint-Zap'.
Zap is featured by Kronos DAO itself through KLAYswap, which provides the SWAP function.
'Stake - Zap' allows users to swap (zap) any asset to sKRNO. Currently, the tokens that can be staked are limited to five types: KLAY, KDAI, KSD, KXRP, KETH and KSP. (More will be added later.)
'Stake - Zap' button is located at the bottom of the Approve or Stake button. (Find it on Stake Page)
- 1.'You Will Get' is the amount of sKRNO that you can receive through Zap.
- 2.'Slippage Tolerance' is the amount that can be differed from what you order and what you receive. You can change this error range in the upper-right settings.
- 3.'Exchange Rate' is the expected exchange rate of the token you chose. You can find it by clicking the icon. -> It works in the same way as KLAYswap's 'exchange rate'. (Go to Klay swap)
- 4.'Your Balance' is the current amount of your chosen tokens.
'Mint-Zap' is almost identical to 'Stake-Zap'. Currently, the tokens that can be minted are limited to six types: KRNO, KLAY, KDAI, KSD, KXRP and KSP. (More will be added later.)
'Mint - Zap' allows users to swap (zap) KRNO/KLAY/KDAI/KSD/KXRP/KSP into Minting Asset.
For example, even if you have only KLAY, you can mint to KRNO-KSD LP or KSD through Zap.
- 1.'Destination Token' is the LP token you selected on the Mint page. Thus, it indicates the LP token that you are to mint.
- 2.'Slippage Tolerance' is the price difference that can occur between the price I ordered and the price to be executed. It can be changed in Settings in the upper right corner.
- 3.'Your Balance' is the current holding of the tokens selected from the drop-down menu.
- 4.'Approximately You Will Get' refers to how many KRNOs you can get when you exchange the selected token for KRNO.
- 5.'Max You Can Buy' is the maximum amount of KRNO you can buy.
- 6.'ROI' is the interest rate of your mint product.
- 7.'Minimum Purchase' is the minimum amount of KRNO that can be purchased.
Approximately You Will Get is the number of KRNOs with ROI applied. Therefore, if the Mint button does not press you will see a warning pop-up page, which means that the number of KRNOs is less than 0.01. Therefore, if you input more tokens to be Zapped, the Mint button will be activated.
There is no extra fee. 0.3% fee will be applied in KLAYswap with no difference. For the gas fees, it is the same as or less than proceeding manually through KLAYswap.
Usually, minting is available from 0.01KRNO. Thus, you are able to do so from an amount over 0.01KRNO.
Zap combines a few transactions (token approval and swap) into a single transaction. As a result, there is less exposure to gas price volatility and the gas fees you end up paying should be the same or slightly less than performing all these transactions separately.
Zap transactions may appear more expensive, but that is only because Zap bundles all these transactions into a single, big transaction. If you add up the gas fees of these individual transactions, the math should work out about the same.
As mentioned in the previous entry, Zap may end up costing less because you are not exposed to gas price volatility.