But it doesn't have to be. If you're a crypto degenerate like myself, you probably jump into all kinds of DeFi protocols on a daily basis. We have so many cool blockchains out there at this point that it's hard to even keep up. Hive, Cosmos, Terra 2.0, Ethereum, Cardano, Solana, and many more chains are capable of hosting DeFi applications so it can be hard to manage. If you like to chase some riskier investments like me, you probably have a lot of crypto locked in liquidity positions on a yield optimizer like PolyCUB.
Ever tried to track those liquidity positions manually? It's a living nightmare. Forget remembering which assets you have on which blockchains, and which protocol they're in... It's just messy even if you use a spreadsheet. The easy way is to use a platform like DeBank. It's a cross-chain platform that's able to scan tons of blockchains for liquidity positions and allows you to see them all in an easy to use interface.
No one wants to log in to each different platform every day to check the value of their position. Being able to do this in literal seconds makes life a whole lot easier. I don't have a lot of funds, and it's complicated so I can only imagine how hard it is for whales. DeBank allows you to check any wallet or ENS address to see the assets held without having to connect your wallet or give unnecessary permissions.
Obviously the wallet in the screenshot above is not mine. It's an influencer's public Ethereum wallet, and as you can see... He has liquidity positions on like 7 different chains. Not only that, but he has a decent sized NFT collection. Which is another great feature on DeBank. Not only can you see your DeFi positions, you can see your NFT portfolio and it provides market value to determine your networth.
You might be thinking... Well, I wouldn't want my wallet out there for everyone to see so I'm not going to use it. I get it, but the reality is that these blockchains are completely public. They're not anonymous. They're pseudo-anonymous, meaning it doesn't say your name or who you are... But all of the transactions and balances are publicly available for anyone to see. That's why you're able to plug in any address and see the balances.
Being able to track your portfolio of liquidity positions and NFTs all in a simple UI is pretty awesome. Not only can you track the value of your positions, you can also see exactly where the assets are and access them easily. I plugged in an old wallet of mine and found some OM from Mantra DAO staked in their platform that I had forgotten about... From the ICO days.
I also realized I had a few NFTs that were nearly worthless but hey, at least I could see them!
With this great power of magic internet money comes the great responsibility of managing your own funds. When you own the keys to your funds, they are solely in your hands. Being able to track and manage them in a super easy fashion is a godsend honestly. We have to make sure we are keeping an eye on our assets and we need to be able to do that safely and securely. This is why I think DeBank is highly underrated. The amount of different platforms that the project supports is unseen on any other portfolio tracker I've ever used. This makes it incredibly easy to cry about my DeFi losses.
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