Merlin by VALK vs other wallet trackers: Why we are unique

In the sea of crypto wallet trackers and DeFi portfolio managers, Merlin by VALK makes a bold claim of being unique! In this article we’ll walk you through our top features and show how Merlin stands out among the competition.

The answer is simple. The sole aim of trading, investing, liquidity provision, staking, lending or borrowing in DeFi is making profit. Essentially, if you don’t track your portfolio you can only guess if you made profit or loss. Moreover, we all know that DeFi is complicated. As an example, when staking you can increase your token holdings but at the same time lose in fiat value, when providing liquidity you risk to fall prey of impermanent loss situation, and the list goes on.

Hence, portfolio analytics is the key to staying on track and being successful in DeFi.

Decentralised Finance (DeFi) keeps booming. The current hoard of DeFi-deposited assets now sits at almost $75B with new protocols being added to the mix every month. Millions of people across the globe are investing in cryptocurrency, trading tokens and engaging in various DeFi activities such as staking, LP and others.

The more expansive DeFi gets and the more attention it receives from traditional finance, the more apparent is the need to have tools for thorough in-depth analytics of individual portfolio performance.

Such platforms as Zapper, Debank, Zerion and APY Vision have pioneered in the current wallet analytics space. We at VALK are launching our own tool, Merlin, to become the new industry leader.

How do we and the projects mentioned above differ from the next?

In this blog article, we’ll highlight the projects disrupting the market, explain what sets them apart and what makes Merlin by VALK unique.

The main goal of Merlin by VALK is to help any crypto trader, investor or DeFi user to analyze whether their current strategy is successful and help them level up their DeFi game by providing in-depth analytics of the current & historical portfolio.

Simply put, Merlin by VALK will show you everything you need to know about your current and past DeFi activities in a user-friendly manner on a single dashboard.

Our team’s previous experience includes years working with TradFi institutions that wanted to move into the DeFi space. We successfully bridged 2 financial systems for 100+ companies, but then kept hearing the same story — there is a severe lack of in-depth analytics and portfolio tracking tools for DeFi holdings, especially when compared with the situation in traditional finance.

And it got us thinking: DeFi people really are making trading and investing decisions with extremely limited information! So we had no other choice but to combine the best of both worlds in Merlin, a one-stop solution for anything you want to know about your DeFi activity, including the data that will help you level up your DeFi game.

We made sure that Merlin is user-friendly and tailored to the needs of retail DeFi investors & traders but still has all the features and powers of a top-notch institutional-grade tool.

Merlin combines the best practices of portfolio management in traditional finance with the best blockchain technologies, our deep knowledge of DeFi and in-house know-how technologies.

To take DeFi portfolio management to the next level we had to go way beyound offering only the basic features and using common technologies for analytics. Our main differentiation factors are that instead of showing only the current situation, Merlin provides full historical information, total gas fees spent, total yield generated, comparison to fiat value and other advanced analytics features. How do we do it?

First, Merlin analysises the blockchain data about all the transactions across multiple protocols that the user made with a particular wallet. Our calculation engine spots the date on which the user deposited the crypto, the price of the token at the time of deposit and the current price of the token.

The above information helps to show the portfolio balance as well as the portfolio total and daily gain or loss in percentages, ETH or USD values, including the total gas fees, total yield generated from a specific transaction in ETH and USD values.

Existing solutions on the market only take user’s current position and do not offer reporting or calculations of portfolio performance. In order to extract historical data, Merlin combines data indexation from The Graph, as well as from Subgraphs created, with any data pulled directly from the blockchain and Etherscan to provide a constant feed of accurate historical data onto the single dashboard of Merlin.

Zapper: Your home to Web3
Zapper API provides DeFi and portfolio related data based on liquidity and token prices on different AMMs to complex DeFi protocol balances all in one place. It allows the user to paste multiple wallet addresses to track which can be viewed both as isolated and bundled.

Zapper tracks user’s net worth as an aggregate sum of assets minus total debts and provides an overview of the account at the current date. zapper conveniently shows the breakdown of assets by network and app/protocol. information is provided on tokens deposited, staked, committed to liquidity pools, yield farming, debts and NFTs. The platform also allows investors to ‘zap’ in and out of selected liquidity pools.

Debank positions itself as a portfolio tracker and management tool that currently supports 26 blockchains and 1000 DeFi protocols.

DeBank’s dashboard shows the total portfolio value on selected protocols, current balances, prices and values for individual assets, as well as the current reward value for individual farms.

Zerion shows the current portfolio situation and focuses on DeFi investment opportunities. It allows users to discover a wide range of assets on the market, trade at the best rates and manage DeFi portfolio across over 50 protocols from one place, however, the analytics options are limited to the current situation only.

APY Vision is a useful tool specifically to liquidity providers and yield farmers. It allows users to manage liquidity pools and track yield farming rewards with one easy dashboard. Because liquidity pools are complex and have many variables that dictate profit or loss, it is essential to have tools to understand what is happening with your positions, as well as your profit and loss.

Summarising all of the above, Merlin shows portfolio performance over time taking into account both current and historical actions and values. This in turn helps us get more accurate and detailed information.

Merlin provides a wide range of in-depth analytics features to level up your DeFi game whether you are a trader, investor, staker, liquidity provider, borrower or lender.

Exciting, isn’t it? Merlin will be released in a mere couple of weeks. Meanwhile, we‘ll tell you more about the different features that our wallet tracker offers.

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