Defi Portfolio tracking has historically been a complex process. It began simply enough when the industry was in its infancy and defi assets were few. Most traders were able to manually manage their portfolios until the earliest tracking apps began to appear in the marketplace.
But as the world of decentralized finance exploded, so did the portfolio and investment options. Defi protocols, while interoperable and therefore subject to community solutions, suddenly found that technology wasn't where it needed to be. Defi portfolio trackers scrambled to catch up, but as most were adapted from technology designed for centralized finance, they have always been inadequate for the decentralized finance arena.
With the exponential growth in defi, problems with the current app offerings became more apparent. Users found that apps had frequently been designed for desktop use and adapted for mobile, resulting in awkward code and poor user experiences.
Many apps were also originally designed for use in the centralized finance space, again problematic in the fast-moving decentralized finance space. The marketplace was begging for a mobile app built from the ground up as a portfolio tracker specifically designed for defi.
Seeing the need in the marketplace, Dexfolio's development team started extensive community consultation to find out what users needed to manage defi assets, monitor holdings, track investments, watch tokens, and more.
They discovered that user experience was an important factor, so the team set about designing an app with superior UX. The result is a user-focused app with a beautifully designed, simple interface where all your crypto finances can be found in one place and supported exchange protocols integrate seamlessly. The app offers support for both Android and ios, and there are plans to create new features as community needs grow.
One of the inherent problems with current apps is that they can be problematic to navigate, hard to understand, and slow. Important information can be difficult to find or the app offers limited functionality.
Dexfolio has addressed these issues by first knowing exactly what users want. Testing and consultation revealed that active users want one-tap functionality to see relevant information across a full portfolio. Tracking defi projects and indeed, all your crypto finances has just become a whole lot easier with Dexfolio's simple interface, saving time often spent jumping between investments in-app.
Having the ability to connect multiple wallets has often been problematic in the past, but Dexfolio has solved this problem by adding an unlimited-wallet feature within the app. Users will be able to start tracking tokens and transactions right away, with easy wallet connectivity a feature.
Offering support for the ETH and BSC platforms upfront, Dexfolio has been designed to easily onboard other cryptocurrency exchanges. In line with community needs, the app has the capacity to grow with the user, expanding to provide extra functionality, and with plans for new features in the future. Users will be able to use Dexfolio's tools to keep track of the latest updates and news from supported platforms.
Another gap in the marketplace was the ability to track assets in real time. Web dapps can be slow and uncertain, with data for both fiat currencies and crypto assets often sourced from unreliable places. Furthermore, tracking a single asset can be time-consuming or complex, let alone a full portfolio.
Dexfolio saw the need for a real-time, reliable crypto portfolio tracker, where traders can see market movements as they happen. This enables fast investment decisions, with even newcomers to the defi space able to manage defi assets efficiently, an area where current portfolio trackers are lacking.
Instead of having to rely on an unsuitable tool or even multiple tools to access investment accounts, Dexfolio users can go to the app's intuitive interface and find everything they need in one place. They can see total value and net worth, track transactions, manage wallet activities, and even find new defi projects to invest in. Having access to all your defi assets at once makes sense, and it was identified as a clear community need.
No crypto portfolio tracker up to this point has managed to successfully address the shortcomings in currently available apps the way Dexfolio has. Other portfolio trackers have served their purpose and enabled the crypto universe to expand, but Dexfolio has taken the lead for portfolio tracking in the defi space with its smooth UX/UI and intuitive functionality. Watch this space for more news as it continues to grow with the needs of the community.
Market cap is short for market capitalization, and it refers to the amount of circulating cryptocurrency multiplied by the current price. Market cap = (circulating supply X price).
It's an important metric because it is a main means of ranking cryptocurrencies for comparison.
A liquidity provider's role is to loan their crypto assets to facilitate defi trades and transactions. This takes place over a length of time determined by the liquidity provider. In return for the use of their assets, they receive fees or earn interest as a form of passive income. Once committed to a liquidity pool, their assets remain locked in by the smart contract until the set time expires.
Liquidity is a measure of ability to buy or sell a crypto asset at the going market price. Liquidity pools are where crypto tokens are stored under a smart contract. The tokens within the pool provide buying power (like having money in a bank) for various defi assets.
Private keys serve a couple of different purposes. They are used as a digital signature for defi and other crypto transactions, and they also act as a password for crypto accounts. Therefore, it is imperative that they be stored safely where no one else can access them and get into a user's accounts.
In the world of defi, keys are not disclosed to third parties and it is the holder's responsibility to maintain their security.