Introduction To DeBank

DeFi dashboards are slowly gaining popularity in the crypto industry thanks to their ease of use. They help DeFi investors keep track of their funds but also to enter and exit positions with one-click solutions. DeBank is surely one one of the leading projects in this niche and that is why we will be taking a closer look at it.

What Is DeBank? #

DeBank is a DeFi dashboard that tracks over 800 protocols on more than 15 different chains. It provides users with a simple overview of their holdings, positions, outstanding debt on loans and pending rewards.

The project has gained interest from some well-known funds raising over $25 Million for further development. These names include Coinbase Ventures, Crypto.com, Circle Ventures and others.

How To Use DeBank? #

After connecting your wallet to the website, you may need to verify your address to start using the dashboard.

When the transaction is signed you will be able to access your profile page by selecting it on the left side of your screen.

When you open your profile DeBank will give you an overview of all the assets belonging to your wallet, if it is tracking the protocol and chain you are on. It is also possible to track funds on all blockchains individually. Simply select the chain of your choice and the dashboard will give you an overview of your assets on that chain.

NFT tracking is included but not all marketplaces are covered. If the NFT is in your wallet it should show up on DeBank.

The approval page is very useful if you have given permission to protocols that you want to revoke. It will not only show you which protocols have permission to spend your tokens but also how much capital is at risk if these permissions get used in a malicious way.

If you want to stay safe and organized, you can use this option to revoke any permission you have given on the chains that are supported by DeBank.

Bundles allow you to track multiple wallets if there is a need for it. Simply add the addresses you want to a bundle and they will be tracked. It is possible to create multiple bundles as well.

DeBank also offers a complete DeFi List that tracks almost all major protocols and projects on 17 different chains. Users that want to discover new investment opportunities can easily find them by filtering by blockchain and niche on DeBank.

For example, if you are looking for DEX aggregators on Ethereum all you have to do is select ETH as the preferred chain and DEX-Aggregator as the second option.

Lastly, DeBank can greatly help those that are involved in multiple projects and want to participate in governance. The dashboard aggregates all active proposals from a lot of different projects and gives users a simple overview of them. There is also an option to view only those that are of interest to you based on your wallet holdings.

Conclusion #

At the time of writing DeBank was still under heavy development. Some features like Swaps will be migrated from the app while others will have significant improvements. As for the functionality, there is no question that DeBank can be of great value to DeFi users that are involved in multiple projects at the same time.

Not only does it provide a very detailed overview of your portfolio, but it also keeps track of many different projects and their governance proposals. With DeBank it should be easy to stay organized and informed at the same time.

References:

DeBank (Financial Software) Company Profile: Valuation & Investors | PitchBook. (n.d.). PitchBook. Retrieved January 7, 2022, from https://pitchbook.com/profiles/company/471828-07#signals