What is DeBank: All-in-One Solution for DeFi (2024)

To efficiently navigate decentralized finance, having the right tools can make all the difference. DeBank, one such resource, is a crypto portfolio analytics platform that not only aids in managing user investments but is also evolving to become the 'X' of the crypto world.

What is DeBank? How to use it, whether you're a crypto holder seeking simplicity or a DeFi developer? Let’s take a closer look.

Highlights

DeBank simplifies DeFi asset management with a comprehensive toolset.

• The portfolio tracker is a key asset for mastering DeFi, enabling users to analyze investments and track portfolio growth using the website or mobile app;
• Besides, users can explore any wallet and view its activity directly on the website;
• The project is also advancing into SocialFi with the addition of Web3 Messenger, facilitating user communication and post-sharing;
• Rabby, DeBank's crypto wallet, stands out as a robust alternative to MetaMask or Trust Wallet.

In summary, the service offers essential tools, from portfolio tracking to SocialFi features, providing a user-friendly and versatile solution for managing DeFi assets. Now let’s cover the product and its features in more detail.

DeBank overview

Recognized as one of the top 10 projects in Binance's Most Valuable Builder program in 2021, it started as a simple DeFi dashboard and expanded into a feature-rich ecosystem.

Launched in 2018 and based in Singapore, DeBank is a multi-purpose platform and application that mainly focuses on free DeFi portfolio tracking tools and creates a space for crypto users to connect.

Today, the team is transforming the website into an expansive social media platform, where users can communicate and get rewarded for their contributions.

How does DeBank work?

The service integrates data across 70 Ethereum-compatible blockchains to track user accounts and decentralized finance plus NFT protocols based on these chains.

The goal of the platform is to provide users with a unified space to track their holdings and investments as well as research fellow traders’ activity on-chain.

Why use DeBank?

At its core, it is a user-centric platform that offers more than just portfolio management but a gateway to a comprehensive and rewarding crypto experience.

Let’s see the whole scope of things users can do using the website and mobile application.

Advanced portfolio manager

Portfolio owners can connect multiple wallets to gain insights into their NFT and crypto holdings and understand fund distribution across diverse blockchains through a user-friendly layout.

Connecting a wallet is not obligatory, though. Users can simply input any wallet address into the search bar to view a summary of assets along with some additional data:

1. Current token prices and the overall growth trajectory of the portfolio; advanced portfolio analytics, however, are marked as a paid service;
2. The complete track record of trades associated with the account;
3. Engagement history with various platforms and applications across DeFi.

Image from DeBank

Similarly, users can look into portfolios and past trades of other users.

Wallet tracking tool

The platform’s functionality extends beyond individual account tracking, offering a powerful DeFi research tool. This allows users to learn from the strategies and activities of experienced participants in the ecosystem.

Cryptocurrency holders can leverage the ‘Web3 Social Ranking’ or explore the 'Whale' section to “spy” on professional traders and whale accounts.

Image from DeBank

DeBank wallet

Rabby Wallet stands out as a non-custodial solution created by the team. Available as a browser extension and a desktop app, it supports over 120 blockchains. The key feature is allowing users to effortlessly import their existing MetaMask wallets to Rabby while gaining extended analytical insights.

Moreover, the app simplifies token management by automatically fetching all tokens landing in one wallet. This is in contrast to MetaMask, where users typically need to manually add new tokens.

Social media for crypto enthusiasts

Within the platform, users can communicate through the internal messenger, where account owners set their price per message. This not only ensures a spam-free experience but also fosters more meaningful and intentional interactions.

Please note that to unlock this feature, clients need to activate a Layer-2 deposit account and add some funds.

'Stream’ is a news feed allowing users to engage by posting, interacting, and following others. To participate in additional Stream activities like lucky draws or reward pools, account holders may need to secure a Web3 ID for a one-time cost of $96.

Image from DeBank

DeBank API

OpenAPI, a set of Application Programming Interfaces offered by the platform, is designed to cater to the needs of developers in the DeFi space.

These interfaces provide functionality for retrieving detailed token information, accessing user-specific token balances, and obtaining data related to supported DeFi protocols among other stats.

Image from DeBank Cloud

Developers can use these interfaces to build applications with enhanced features and analytics. The Pro Plan users are allowed to make up to 100 requests per second.

Conclusion

Providing a straightforward and user-friendly environment designed to facilitate navigation and engagement within the decentralized finance space, DeBank may prove an invaluable tool for beginner and experienced traders. Furthermore, developers may find it particularly useful as they work on their own DeFi projects.

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