What is DeBank and how do I use it? Here are the answers to your questions.
The service offered by DeBank is much more than just a wallet viewer. It now allows for an advanced analysis of flows on partner protocols and a swap system to exchange your cryptocurrency at the best price without even switching sites.
DeBank allows you to track your cryptocurrency wallet across 285 protocols on the DeFi and 7 different blockchains. Analyzing decentralized protocols on blockchains and performing cryptocurrency swaps directly on DeBank.
Dashbaord 📊
The presentation is essential for a DeFi protocol aggregator. DeBank is very clear, we first find the address of the wallet, with its seniority on the network, then the total sum of assets on the different chains taken into account.
You can select by type of blockchain, or by type of decentralized protocol. You also have at the bottom right the current price of the Gas on the blockchain.
Unlike APE Board, which specializes in Binance Smart Chain protocols, DeBank is more generalist and offers - in my opinion - a clearer reading of the different farming positions.
For example: Three positions in my portfolio on the Yield Optimizer Beefy, two stablecoin on the Fantom blockchain and a liquidity pool on the Polygon blockchain. The total value and current returns are relentlessly clear.
By clicking on the name of the protocol, you will have direct access to the detailed statistics of the service, the number of users over the last 24 hours, the number of contracts and the distribution on the different portfolios within the contract.
Swap 💱
When it comes to converting your cryptocurrency, it is essential to use a service that you can trust blindly. Indeed, a rogue protocol could steal your entire wallet. With the multiplication of swap services, other swap aggregation services have also started to appear. Among them 1Inch which is arguably the best decentralized cryptocurrency exchange service on the Ethereum, B. Smart Chain and Polygon blockchains. Well, 1Inch is now integrated into DeBank.
DeBank will scan the other swap proposals to offer you the most profitable one for you. Depending on the paths offered, you can even earn money. Swap with peace of mind and compare the best offers directly on DeBank.
Global vision of DeFi 💰
When using a DeFi (Decentralized Finance) protocol it is important to take a step back and check the history of the protocol. For example, one indicator to check is the TVL for "Total Value Locked" which means, the total assets locked in the protocol. DeBank allows you to identify the protocols with the most liquidity and therefore the most popular among users.
Conclusion 👌
I really like using DeBank because this service offers me a good view of all my assets on the biggest blockchains. While APE Board specializes in small BSC tokens, DeBank won't offer insight into risky tokens, but will be relentless about your investments in decentralized finance like farming, lending etc. Using one scanner can be very useful, but depending on your investments, it may be necessary to use more than one to get an ultra global view of all your assets. If in the future you were to use only one portfolio viewer, DeBank would certainly become the most optimal in the long run.
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