What Is De.Fi?
Tech Deep Dives

What Is De.Fi?

Created 1yr ago, last updated 1yr ago

CoinMarketCap takes a deep dive into De.Fi (DeDotFi), a comprehensive web3 security toolkit that offers insight into different DeFi protocols.

What Is De.Fi?

Table of Contents

Billed as a "Web3 super app", De.Fi (read 'DeDotFi') is a comprehensive DeFi toolkit designed to help cryptocurrency users better track their portfolios, manage their money, identify opportunities and avoid risks.

The platform aims to provide a crucial resource that cryptocurrency holders, investors and traders can use to better navigate the increasingly convoluted and complex crypto landscape. To this end, it offers a range of tools, products and services that help to delineate key insights about the cryptocurrency market and highlight risks and opportunities that might otherwise be issued.

Here, we dive into the platform and explore how it can be used to boost your market awareness and better keep track of your portfolio.

What Is De.Fi?

De.Fi is an ecosystem of tools and products that can be used to unlock insight into different DeFi platforms. Its flagship feature is its smart contract scanner tool, which allows users to easily assess any smart contract of their choice across any platform supported by the platform. By entering the smart contract address of any major platform, users can easily identify the potential risks associated with using it.

For example — potential reentrancy attacks, vulnerable withdrawal functions, upgradability, transfer fees (transaction taxes), approval restrictions and more.

The platform also provides an overall De.Fi score (graded out of 100), which assesses the safety of the contract based on a large number of criteria. Other key information about the smart contract and any associated tokens are also displayed, such as the liquidity available on popular DEXes and the 10 largest token holders.

Users can also search from a list of popular, recently scanned and most vulnerable smart contracts to get an idea of what’s hot and what’s not.

Its security tools allow users to easily spot more than 95% of common smart contract vulnerabilities, allowing them to use and interact with platforms more securely. This is particularly useful for those that frequently scout out and interact with unaudited platforms, or frequently skimp on their due diligence.

Besides the scanner tool, De.Fi also offers a comprehensive dashboard that automatically monitors the portfolio and transactions of any connected or manually watched wallet. Users can filter their balances by network and sort their transactions by token and date to keep tabs on their activity.

This is coupled with an array of investment tools that help to analyze the crypto market in a single sweep, allowing users to explore yield opportunities and keep track of their positions across various DeFi protocols, NFT collections and lending markets. Users can also track their balances held on popular centralized exchanges, including Binance, Coinbase and Kraken — using API access to read their balances.

In total, De.Fi has tracked over 65,000 smart contracts and 400 different protocols across 43+ different networks. It regularly adds new smart contracts, protocols and chains, making it one of the most comprehensive cryptocurrency dashboards available.

Supported Chains

De.Fi is unusual among DeFi analytics and tracking platforms. The platform support practically all major smart contract platforms, including both layer 1s and 2s.
In total, De.Fi now supports 43 different chains, including almost all of the top 20 by total value locked (TVL) along with more than a dozen up-and-comers — including the likes of StarkNet, zkSync Lite, Fuse, Juno, Agoric and more.
Earlier this month, De.Fi introduced a defense suite for the Fantom blockchain, allowing users to easily assess the safety of any Fantom-based token, NFT or vault smart contract. Users can now explore yield opportunities and DeFi protocols operating in the Fantom ecosystem.
It also recently launched its antivirus for the Moonriver blockchain, helping users of the nascent Polkadot-based smart contract platform stay safe.

De.Fi Products

The platform offers a range of products users can use to improve their efficiency and stay safe. Its products are separated into three categories: investment, transaction and safe tools.

Its toolset currently includes the following products:

Investment Tools

  • Explore yields: Provides an overview of the yield opportunities available across every supported chain. Users can refine their search to specific platform types (e.g. liquidity pools or lending platforms) and can filter by specific tokens, platform TVL and minimum APR. Users can also narrow their search to particular networks or protocols.
  • NFT: Allows users to explore their current NFT portfolio, monitor its status, and track the assets they hold in various liquidity pools
  • Wallet: Provides an overview of funds held in wallets added to the platform, including a breakdown of assets held on each different chain and their recent performance. Users can track their own wallets or any wallet of their choice.
  • Deposits: Allows users to track their deposits on a wide variety of different DeFi products and easily keep track of their yields. Users can then use this tool to find other, potentially more profitable opportunities.
  • Lending: Allows users to track their deposits to various open lending platforms across more than 50 different networks, helping to keep track of their positions and yields.
  • IL Calculator: A simple tool used to calculate the impermanent loss for liquidity positions held in DEXes on the Ethereum blockchain.

Transaction Tools

  • Send: Users can easily send tokens or NFTs from their connected wallet to any address, domain or identity — including those from their watchlist.
  • Swap: A simple integrated swap tool that allows users to exchange a large number of assets across 8 popular smart contract platforms — with slippage controls.
  • Bridge (coming soon): An integrated bridge solution that helps users securely move their assets between chains.

Safe Tools

  • Shield: Scans smart contracts to identify vulnerabilities and help users discover where they might have vulnerable balances, providing a simple tool to revoke access to approved contracts.
  • REKT Database: A near-complete overview of recent and historic scams, including a detailed summary of the mechanism of attack.
  • Audits: A repository of DeFi project audits, indexed by the auditor and easily searchable.

Upcoming Developments

De.Fi is a fast-growing platform that is constantly expanding and refining its product lineup. As a result, it’s impossible to keep track of all the protocols and smart contracts it adds to its monitoring tools.

However, it does have a comprehensive roadmap outlining its more significant future development plans. By Q2 2023, the platform expects to integrate a variety of powerful new features, including a custom alerts tool and integration of the Tezos blockchain. By Q3+, it aims to release its cross-chain bridge aggregator and swap tools and release a mobile application.

It also plans to release its own native token, which will trade under the ticker $DEFI. The new token will be intimately woven into the De.Fi product ecosystem, providing holders with access to additional utility and tools — such as access to app discounts, full access to certain products, and the opportunity to take part in the governance of the platform.

The platform aims to decentralize its tools into an independent chain, which will be operated and governed by users via a variety of node types and on-chain governance. Full details about the new chain and its associated token are yet to be announced.
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