Debank and Web 3 Features - Airdrop (???)

in LeoFinance9 months ago (edited)

You know Debank, right? I have seen multiple posts on Leofinance that provided information about this platform. Debank is a DeFi portfolio tracker that covers most of the chains out there in the wild. Having said that, it does not yet support Solana and Cosmos.

I have been using this tracker for quite some time now. They have been performing well all these months. They support cubdefi and I use them to check how many $cubs I am farming every day. In addition to that there are many aspects of this platform that I like about. I am also excited that the platform does not yet have a token and there is (???) a possibility of airdrop if and when they launch their governance token. Hope they do.

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Feature evolution

They started with a simple purpose - to track defi portfolios. They have gathered so many platforms in a short period of time, they became one of the friendliest site to use. Since they do not have a paywall, many users tried their services and remained with them. I am one of the users who did the exact same. The initial days were buggy as the transaction were not updated live. The site would take time to load. Lately, they have improved a lot. I think they are doing a decent job in updating the tracker and including new protocols.

DeFi Swap

The site not only allows you to track your portfolio but also provides with a swap functionality. I have used their service for many times when I had to wrap and unwrap tokens. The platform acts like an aggregator and compares potential transaction fees across swap platforms. It makes sense to have this functionality as users don't need to go to a new webpage to swap assets. I think, this is one feature that will be pretty common in the days to come. Users don't need to understand and evaluate many dexes out there to swap their tokens. The underlying platforms can do their job but the front end site like Debank can provide the linkage and help you perform the job. Debank has performed well.

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Approvals information

The most important feature that I admire is the ability to see which protocol/site I have authorized to spend my tokens. We interact with so many defi protocols. I don't even count how many sites I have connected to using my wallets. For every connection, we give these sites permission to spend our tokens. That's a function we cannot say no to. But, we never go back and cancel the permission we grant them once we stop using that protocol. I do not have technical knoweldge to explain what happens we do no revoke these permissions. May be someone in the comment section can help.

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The site seems to evolving into something new. They have been modifying their look and it is obvious that they are trying to splash into web 3 and NFT narrative.

The profile section looks amazingly similar to few web 2 social media profiles. I can now add my twitter, github accounts and my emails on my Debank profile. The profile is associated with our wallet. I have three wallets connected to Debank and the profile page is associated with the one that I signed into. I am not sure how this profile functionality work but it seems we will be able to follow other accounts as well. I will be super worried if others follow my account and associate my wallet with my web2 social media profiles. My wallet info is public but I don't them to explicitly link with my public profile.

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I could also see NFT integration coming as the page already allows you to display NFTs as your profile avatar. That could mean the site could also aggregate NFT marketplaces like they did for tokens. That would be huge if they decided to go ahead with the idea.

What do you think? I know cubdefi users must have used this site to track their portfolio. If not, you can always check. Debank.com

Posted Using LeoFinance Beta

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Seems like a nifty tool to use! I’m only on Cub right now so I don’t have anything else to track hahaha. Glad it’s convenient for you!