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Zaps

What is Zap?

Zap is a feature that helps users swap quickly and easily. Neverland's Zap is divided into 'Stake-Zap' and 'Mint-Zap'.
Zap is featured by Neverland itself through KLAYswap, which provides the SWAP function.

About 'Mint - Zap'

'Mint-Zap' is almost identical to 'Stake-Zap'.
'Mint - Zap' allows users to swap (zap) assets into Minting Asset.
For example, even if you have only KLAY, you can mint to HOOK-KUSDT LP through Zap.

Terms Explained

  • 'Destination Token' is the LP token you selected on the Mint page. Thus, it indicates the LP token that you are to mint.
  • '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.
  • 'Your Balance' is the current holding of the tokens selected from the drop-down menu.
  • 'Approximately You Will Get' refers to how many HOOKs you can get when you exchange the selected token for HOOK.
  • 'Max You Can Buy' is the maximum amount of HOOK you can buy.
  • 'ROI' is the interest rate of your mint product.
  • 'Minimum Purchase' is the minimum amount of HOOK that can be purchased.

About 'Stake - Zap' (To Be Introduced)

'Stake - Zap' allows users to swap (zap) any asset to CLOCK.
'Stake - Zap' button is located at the bottom of the Approve or Stake button. (Find it on Stake Page)

Terms Explained

  1. 1.
    'You Will Get' is the amount of CLOCK that you can receive through Zap.
  2. 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. 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. 4.
    'Your Balance' is the current amount of your chosen tokens.

The number of Approximately You Will Get meets the Minimum Purchase (0.01HOOK), but why won't it Mint?

Approximately You Will Get is the number of HOOKs 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 HOOKs is less than 0.01. Therefore, if you input more tokens to be Zapped, the Mint button will be activated.

Are extra fees charged?

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.

Is there a minimum amount to Zap?

Usually, minting is available from 0.01HOOK. Thus, you are able to do so from an amount over 0.01HOOK.

Does Zap save me gas?

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.

I am trying to use Zap, but the gas price looks expensive.

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.