Furucumbo, do you know?
I know that on this blog, you really like good deals. So, if this is your case, you will be served. Even more so if you are interested in DeFi tools.
We are going to talk about Furocumbo which, even in beta, is getting a lot of attention. We will see in this first article simply what it is about.
Everyone is talking about it lately because we have seen some pretty crazy operations from people who have succeeded with several operations, earning crazy amounts of money!
Then, I will write other articles to explain in more depth how it works.
You will then know everything you need to know about the site, and how, you will be able to benefit enormously from it.
But first, let's see how it works.
What is Furucombo?
furucombo is a tool designed for end users to optimize their DeFi strategy simply by drag and drop. Just like creating your own DeFi legos, but you don't need to know how to code.
It visualizes complex DeFi protocols in cubes. Users just need to enter the inputs/outputs and configure the orders for the cubes (we call this a “combo”), then Furucumbo will group all the cubes into one transaction and send them.
This is a great tool for people who want to perform different (but complementary) actions on different protocols, especially those who want to take advantage of a flash loan.
I will talk about the famous flash loan/flash loan in another article.
Now that you have an idea of what Furucumbo is, let's get started!
Understanding the Furucombo interface:
DeFi Menu
First of all, to start creating your combo, you will need to select a DeFi protocol of your choice.
To do this, on the home page, click on the “+” icon and there you will see this page:
Here you can choose which DeFi protocol you want to use in your combo.
Each button represents a cube to configure. More clearly, each cube signifies an action to be performed.
The search function at the top allows you to search by name per challenge, by action per challenge (e.g. swap, add liquidity, etc.) or by a name of the token supported under some DeFi. There, it's up to you to look for those you already know.
Add funds
When you start setting up cubes, you can see a section at the top left called “Initial Funds”. This means the funds you must send and have at the start of the combo to initiate the entire transaction series.
Initial funds are sent directly from your wallet. This is why, upon registration, you can register directly with your wallet.
That said, you must have a sufficient balance of the token(s) in your wallet or the transaction will NOT be executed. When your wallet is connected, the wallet balance of each token will be displayed here so you can always check before running the combo.
You will receive
On the left you see a “You will receive” section. These are the funds you are going to have in your wallet at the end of the transaction. It is the result of all the inputs and outputs you created on the right, which are updated every time you modify a cube.
😉 Just think that “initial funds” is the amount you invested and “you will receive” is the amount you will receive at the end. This is how you will see if your combo is really profitable.
How to use Furocumbo:
Step 1: Configuring the cubes ⚙️
When you select a protocol, you are prompted to enter cube details. Here you will frequently see the terms “input” and “output”. Input means the amount of token you need to perform this action.
Output means the amount of token you will receive when performing this action.
The input source can be tokens you have in your wallet or outputs from previous cubes. Once you've set up the cube, you can always edit/delete it by clicking the pen/trash can icon at the top right of each set.
:-)You can also choose already planned protocols. This is personally what I do. There are many. Just click on the logo to see all the possible configurations.
Step 2: Drag and drop the cubes ? ✋? ?.
Any cubes you set up can be moved in any order you want. Simply click and hold the cube and drag it into the order you want. When the combo is sent, the actions are performed according to the order of the cubes.
It is very important to choose the order correctly once again.
Example: When you create a flash loan, a pair of two cubes appears. (The first cube means "borrow" and the 2nd cube means "recover".) The next thing you need to do is add more cubes (actions you want to do with the borrowed tokens) and drag them between the flash loan pair.
Step 3: Connect your wallet?
You can create a combo without logging into your wallet. But if you want to send the combo, you need to connect your wallet. Just click on the cube with a wallet icon. Then simply choose your wallet to connect.
It must also be one of the wallets shown above.
Step 4: Sending a combo to Furucombo???
In fact, the full flow of sending a combo would be:
- Click “Approve” when your initial funds are ERC20 tokens. You only have to do this once.
- Click “Send”, then Furucombo will run an estimate of your combo. If the transaction fails, a message will appear as a reminder so you can change your combo. Conversely, you will see a request pop-up on your wallet to sign the transaction.
- Once your combo is successfully sent, the button will change to “New Combo” and a message with the transaction link will appear. When you see these changes, congratulations!
You have completed a combo!
So much for this first introduction with Furucombo.
This is only the beginning of the different applications of the Defi and we can see that it is already generalissimo.
—>The website Furocombo
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