DeBank: The Web3 Messenger & Portfolio Tracker

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DeBank is an easy-to-use platform that allows users to track their entire crypto portfolio or digital assets including Stablecoins in various DeFi protocols. Currently, only NFTs on the Ethereum network are viewable. Users can even follow others on the platform and gain followers as well.

To quote DeBank's profile on Medium, re:

The Web3-native messenger & the best Web3 portfolio tracker that covers all your tokens, DeFi protocols, NFTs across all EVM chains. - (Source)

Protocols Supported

Currently, the platform supports more than 2000 decentralized finance (DeFi) protocols from popular ones like Maker, Aave2, Curve, PancakeSwap, UniSwap, Lido, Eth2, Convex (just to name a few) to least-known and newer protocols and I believe as new ones come up, they get added too.

Chains Supported

Supports 50 popular and most commonly-used chains (i.e. Ethereum, BNB Chain, HECO, Polygon, Arbitrum, Optimism, Harmony, Fantom, OKC, Avalanche etcetera).

It is very intuitive that if the address has used a certain chain, the corresponding assets or tokens are automatically displayed and the said chain will be accessible on the toggle list.

Data & Information Tracking

The platform provides comprehensive data and information of different DeFi protocols including liquidity, number of users, the types of pools available and the top tokens staked. Users can also access data and analytics for decentralized lending protocols, Stablecoins, margin trading platforms and decentralized exchanges (DEXes) inside the platform without having to go to other applications.

The top holders' data on various protocols including the total value of assets held and the percentage share on the pool, the top tokens, cumulative share among other information are also easily viewable.

One can view details of his portfolio or that of other wallets (users) just by entering the wallet address and the dashboard will display the real time total portfolio value, which chains or network the assets are held at, the volume and percentage of the holdings and other information such us the age of the wallet, the number of its followings and followers, its Streams, NFTs and users can also access or view the transaction records or history of the wallet and can even download a csv file of it.

User Interface

It's a user-friendly platform with a neat and simple UI with easily accessible tabs and or menus which one can toggle on to display which information he wants to see. It is available in both Light and Dark theme settings.

It has a mobile application available on Google Play and on the Apple Store.

Other Features

• Whales Tracking
  A feature where DeBank screened whale wallet addresses which anyone can access and track significant happenings. Their portfolios are viewable too, including the transactions on their wallets.

  
  
  

• Web3 ID
  Users can mint their own Web3 ID with a fee of $96, certain conditions, re:

  • Once the ID is minted, it cannot be modified.
  • Only 100k IDs will be released for the time being.
  • Web3 IDs can only contain alphanumeric characters (letters A-Z, a-z, numbers 0-9) with the exception of underscores (“_”)
  • "Jack", "jack" and "JACK" are all allowable IDs. Once “Jack” has been minted, “jack” or “JACK” can’t be minted.
  • ID Length allowed is between 4 and 15 characters.
    (Info Source)

• Membership Types
  Free (DeBank Basic) and DeBank Pro (Still on Beta phase so it's not enabled yet). The free version is already complete with all the things one can do and access.
  
  
  

More Applications/Tools on DeBank Platform

DeBank Hi

The so-called "messaging app for web3-natives."

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This is a pretty interesting feature where users can purchase anyone's attention (send messages) with a fee or sell his attention (receive messages) to earn. Their Whitepaper discussed why they came up with the feature. Spam they say is the most common problem in open communication and to treat attention as an asset is what they aim to do with this application.

What we are proposing here is defining user attention as an asset and establishing a market with reasonable pricing. This will put an end to scammers profiting from gaining user attention for free.

Sending a message is placing an offer for the attention asset that hasn't been minted by the receiver. The receiver, also the provider of the attention asset, logs into the app and accepts the offer by reading the message. This behavior is equal to minting an attention asset and selling it, completing the trade. - DeBank Hi Whitepaper

The whitepaper further stated that DeBank Hi aims to achieve the following and I quote:

• Define user attention as a form of NFT;
• Design a market for Attention NFT, enabling asset trading and communication;
• Introduce an automated pricing model for Attention NFT to reduce friction and increase trading efficiency, allowing a faster communication network.
  

It seems that the default and cheapest fee for sending a message to other users is $1 and to access the feature, the user has to sign up to DeBank L2 smart contract on Ethereum chain to add funds first. ChatGPT is even accessible directly on the platform.

The fee varies and increases as a wallet receives more paid messages.

These are some stats per DeBank's tweet during the beta testing of the feature. The impressive numbers kind of show that users are willing to pay to connect with others on Web3.
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DeBank Stream

According to DeBank's thread, DeBank Stream is "a Web3 social feed that calculates each user's contributions to the platform." Simply put, DeBank may reward those who contribute to its growth via their streams (posts).

It mentioned that they believe that the core part of the Web3 spirit is returning value to those who created them.

On DeBank Stream, every minute you invested, every post you published or read, every comment and repost are all calculated as value contributions and credited to you.

Every day, users will receive contribution records reflecting their contributions to the platform.

A true Web3 product needs to credit every bit of value it receives to its original creators.

For each post on DeBank Stream, we'll also calculate the dissemination value it achieved, identifying individual user contributions to it. This allows the beneficiaries of the post being spread to know the rewards due to each contributor. - (Source)

DeBank Stream is Twitter-like. It was recently rolled out and they are still testing the algorithms. Whilst users can already create and post contents, their rewards won't be calculated.

I did a quick test and this is how it looks:

It gauges the user's credibility based on the number of posts and probably the reaction of other users too. Readers can rate the post by clicking on the "Trust" or "Distrust" button. Will be interesting to see how users will be rewarded with what they contribute.

These features and the others make DeBank basically an all-in-one crypto and Web3 portfolio tracker combining social media aspects into it and it will be great to see how it develops in the future from what it is now.

Photos and screenshots not acknowledged above were obtained from DeBank. No copyright infringement intended. 8th May 2023/20:50ph

Posted Using LeoFinance Alpha