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Decentralized Finance is one of the fastest-evolving and most lucrative fields in the crypto world. It is deploying financial software and applications on the blockchain. DeFi can enable a new banking approach and offer all banking services. Today, there are 2000+ DeFi projects. However, it takes work for rookies to make the right investment decision.
DeFi platforms offer tools for analyzing and investing in DeFi and decentralized exchanges. Additionally, some venues have unique tools that analyze various markets and offer the best judgment. Therefore, focusing on DeFi tools is essential for people planning on introducing DeFi solutions.
The Importance of DeFi Tools
DeFi tools open a new world of the cryptocurrency world. Furthermore, they offer decentralized, highly accessible, and non-custodial investment opportunities for people who want to get into DeFi projects. In addition, these tools allow investors to access decentralized exchanges (DEXs) to trade cryptocurrencies online.
The Best DeFi Tools
Tracking the crypto invested in DeFi protocols is essential. So, let us look at some of the best DeFi tools investors should know about.
Zapper is a simple dashboard for DeFi. The DeFi tool allows a simple visualization and tracking of all DeFi assets and liabilities through an interface. Essentially, it focuses on yield farming and liquidity. So, Zapper enables users to keep an eye on their entire portfolio on DeFi.
This dashboard came about due to a merger between DeFiZap and DeFiSnap. DeFiSnap tracks DeFi assets while DeFiZap helps users in faster capital investment. It makes Zapper a well-suited platform to manage and deploy capital into top DeFi platforms.
Features of Zapper
- Allows you to see the positions of DeFi by percentage using the Protocol Allocation tool.
- It provides easier debt tracking across DeFi products and allows you to see positions needing supplementation.
- Enables users to track how positions can perform with ROI estimates.
- A user can use Pool Pipes to bridge capital between different liquidity pools.
- It offers an Exchange functionality that assembles a few different automated market markers. The function ensures an optimal price when exchanging crypto.
- It allows easy interfacing with many DeFi protocols like Curve, Uniswap, yEarn, and more.
Zapper allows users to invest in liquidity pools. That turns users into ”liquidity providers.” This tool automates some tasks that optimize the asset split between pools. Moreover, it makes the provisioning of liquidity simple.
Zerion is one of the best products in the asset management sector. Also, this tool is an essential platform for investors who want to trade crypto to diversify their portfolios. Lastly, the Zerion dashboard offers the ability to Exchange, save, invest and borrow with many DeFi products.
- Zerion supports non-custodial and web3 wallets. One can add multiple wallets to a single dashboard. For instance, this product tracks positions in a wallet besides asking them to deposit in the platform.
- This platform allows users to link it on mobile using a QR code. Users can track their positions on mobile and desktop without transferring funds from their wallets.
- This platform directly connects to DeFi exchanges and protocols like Uniswap, Compound, etc.
- Zerion allows the tracking of transactions complete with detailed graphs and metrics. In addition, it tracks the position on Set Protocol and all tokens in a user wallet.
- This DeFi tool allows investors to access borrowing and lending markets, yield farms, and liquidity pools.
DeBank is also a tracker of an exchange or portfolio. Furthermore, this tool focuses on the data part of DeFi protocols. And it provides information for users about each exchange and protocol. Additionally, DeBank gives investors data on DeFi. So, its mission is to create more understanding and connection between the DeFi world and investors.
The Features include
- This dashboard allows users to track their portfolios through blockchains and hundreds of DeFi protocols.
- This platform offers a real-time value of various assets of DeFi.
- It allows easy swapping of tokens.
- This platform provides a wide range of data and analytics on assets. It includes information on lending protocols, different DeFi exchanges, stablecoins, and margin trading platforms.
Experts project a promising future for Debunk, with more features coming into play periodically. For example, DeBank serves as a wallet and other options like interest rates and analytics page.
This DeFi tool is the leading resource for DeFi assets and project tracking. And many experts consider this tool the leader of decentralized Finance. In addition, this platform allows users to access the latest information on analytics and ranking of DeFi protocols.
DeFi Lama tracks smart contracts’ total value locked (TVL) based on notable DeFi applications and protocols. Furthermore, this platform prepares the DeFi List, a collection of the best DeFi resources. Lastly, beginners could capitalize on this platform to access the latest trends, news, and opportunities on DeFi.
DeFi Saver tool is the best place to quickly maintain and manage borrowing and lending positions like Maker CDPS (Vaults). Also, this tool enables users to keep their collateralization ratios. So, it is possible due to the help of automation tools built with Flash Loan capabilities.
Lastly, DeFi Saver ensures users have some safety in the case of a significant price swing. Therefore, it offers Smart Savings, a personalized dashboard for Dai lending.
The Features of DeFi Saver
- Allows users to create, maintain and manage a Maker Vault from a single point.
- This tool tracks savings across Fulcrum, dYdX, Compound, and the DSR.
- The platform allows users to take part in Maker liquidations.
- DeFi Saver can update users about the status of their transactions as it passes through the mempool. Thus, it reduces anxiety regarding transactions.
Investors on DeFi need tools to manage and monitor the performance of their investment portfolios. Additionally, there has been a growth in the number of these tools as the DeFi space expands. As a result, users will need more tools to manage positions across the many products in the DeFi world.
Users will have to do their research and know the tools they can use according to their requirements. However, using the above agencies will guarantee you make sound decisions in the DeFi space.