It all started in 2017 when Ethereum started reinventing & opening up access for devs to build open-source, transparent & decentralized finance applications, which was leveraged by IDEX which was the first DEX where one can swap cryptocurrencies & then looking after the volatile assets Rune from MakerDAO introduced the concept of stablecoins SAI which is a single collateral DAI where you can mint SAI by keeping ETH as collateral, which was definitely needed & then more advanced concepts like money & debt marketplaces came into the play where protocols like Compound, ETH Lend(Aave) took over that market. One can lend & borrow money without the dependency on third parties 24*7*365.
As a DeFi enthusiast, I was happy to use these applications, though as a shrimp my returns used to be in cents though protocols used to give good returns in comparison to traditional banks. Here calculating my P&L & looking after my live positions was easy because only 2–8 protocols exist that too on one chain the king Ethereum. But still, for whales, this was still tiresome because they maintain multiple wallets & also there’s no way to be updated with the parameters like collateralization ratio, remember the black Thursday event? If someone would have notified all the underwater loans then at least a few millions could have been saved.
This was all fine, then came the concept of AMM by Bancor, Uniswap which made our lives simple to not be dependent on centralized exchanges to swap one token to another. All of these created a compounding effect for developers to build more financial instruments like Insurance, Options, and Margin Trading (Do you remember the Nuo network & bzx?), perpetuals, staking, yield boosters, NFT market places, liquidity mining, farming ufffff……. what not.
This DeFi innovation lead to the last bull market in 2020 where DeFi protocols TVL saw a huge uprise from $50M to $200B+ within the span of 2–3 years across chains.
This is where the problem started. I was happy trying lending, borrowing & using dex to swap now, I was been introduced to staking, liquidity mining, farming & risky stuff like derivatives. I am excited & nervous at the same time because I will get a lot of learning & also all these dApps were in a very early stage without many stress tests passed. That’s fine but more than that now opportunities started multichain. Lol
DeFi started going crazy with 10s & 1000s of APYS, airdrops, and boosted APY, but this was the time I got pissed off in calculating the basic thing which is P&L, I tried maintaining excel sheets but no use the space itself was so fast numbers change every sec & imagine your portfolio is across chains & wallets.
I bet there’s no single tool where I can keep track, I need to switch between multiple tools to get my job done. For example, for IL I need to calculate third-party tools dailydefi, P&L Zapper, Live price Coingecko, and Protocol info Token terminal ..etc
This is when I decided to automate this process by building an investor-focused personalized DeFi deep analytics platform where you can track & manage your portfolio. You no need to switch between multiple platforms to get the financial info of the current snapshot. If you would like to try the app, I’ve only 24 invites. Signup using this url
can be found here & we’re open to feedback.
