DeFi aggregator Yield Monitor incorporates DeFiChain blockchain
DeFi multi-chain portfolio tracker, Yield Monitor has incorporated the DeFiChain (DFI) blockchain into its yield monitor database to help users leverage its on-chain data to find the best trades possible.
The addition of DeFiChain marks the platform’s second non-EVM mainnet integration. Every inclusion adds thousands of data points to Yield Monitor’s infrastructure, which is building an automated, scalable multi-chain database that makes DeFi portfolio tracking and investing opportunities more accessible for everyone.
Yield Monitor is a yield aggregator for leading DeFi ecosystems, which also monitors absolute returns, fees and consolidated performance. DeFiChain joins Algorand (ALGO), Avalanche (AVAX), Binance (BNB), Ethereum (ETH), Fantom (FTM), and Polygon (MATIC) networks that have been incorporated into its database.
Yield Monitor allows its users to easily monitor activity on these chains with advanced analytics and conduct on-chain ratio analysis to identify best returns while checking historical performance. More importantly, it shows users the most consistent pools with the highest performing yields across its supported chains.
The recent integration will enable users to gain insights into the on-chain metrics around DeFiChain. Investors and developers will be able to trail assets held in wallets on the DeFiChain blockchain and also route cross-chain transactions to optimize price and efficiency.
“We’re thrilled to be building a relationship with the DeFiChain organization. The community is very dedicated and supportive of the various builders and creators bringing value to the ecosystem. It’s a privilege to be adding DeFiChain to our database and we’re eager to begin building long-term, collaborative relationships with DFI investors and existing teams in the coming months,” said Yield Monitor’s CEO Christophe Dupont.
“We were excited to see the progress Yield Monitor has made in a short amount of time, especially with a small team. This speaks to the quality of their product and their dedication towards building a powerful database infrastructure foundation. We are excited to see the features they are preparing for DeFi investors and their utility in building a truly accessible, multi-chain DeFi community — one in which DeFiChain will play a large role,” commented Mark Pedevilla, DeFiChain Ambassador and News Anchor.
DeFiChain, which creates decentralized assets (aka dTokens) that perform similarly to stocks, gives users price exposure, not ownership, to the underlying stocks and ETFs without any restrictions. Users of the Bitcoin-based DeFi platform can also sell fractions of tokens they created, with no need for a broker or other intermediary.
dTokens track and reflect a number of variable factors, and use oracles to capture those feeds. The price of dTokens may not always mirror the underlying asset’s price because of fluctuations in the supply and demand of dTokens. A dToken can either be held as an investment, traded on the DeFiChain DEX, or used for Liquidity Mining on the DEX.