Collection | The Most Practical DeFi Tools Summary, which ones do you know?

Original author: The DeFi Edge, DeFi researcher
Original translation: 0x137, BlockBeats

This article summarizes the views of DeFi researcher The DeFi Edge on personal social media platforms, and BlockBeats has organized and translated it as follows:

Practical DeFi tools can save you a lot of time and help you quickly find quality investments. Here are some of the best and free DeFi tool collections, some of which you may have never heard of.

1. Track Your Portfolio

My personal favorite is Zapper Finance, and other good applications include DeBank, Zerion, and Ape Board. By connecting your wallet and adding addresses, these applications can easily track your portfolio.

2. Monitor Whale Wallet Activities

DeBank has a ranking of whale wallet addresses, and I use this ranking to monitor these wallet addresses to see what they are investing in.

You can also create your own list based on this ranking:

· Step 1: Find your favorite protocol

· Step 2: See which whale wallets are in the protocol

· Step 3: Reverse engineer based on the above information

· Step 4: Create profits

3. Visualize Project Performance

I like to regularly observe which Tokens are winners or losers each week. Coinparticle does a better job of visualizing Token data and helps me understand their stacking effects relative to other Tokens.

4. Top DEX for Trading Tokens

· Trader Joe is available on the Avalanche chain

· SpiritSwap is available on the Fantom chain

· PancakeSwap is available on the BSC chain

· 1inch and SushiSwap are also great for multi-chain trading

5. Cross-Chain Asset Transfers

We live in a multi-chain coexistence world, and cross-chain bridges can help you transfer your assets across different chains.

I recommend using Multichain.org (Anyswap) and Synapse Protocol.

Additionally, some protocols have their own native cross-chain bridges, which may be cheaper to use.

6. Check Best Stablecoin Yields

Stablecoin yields always fluctuate, and Coindix's dashboard can monitor stablecoin yields across different chains.

7. Observe Real-Time Market Operations

I think DEX Screener is the most underrated tool in DeFi, as it supports:

• Monitoring real-time trades

• Viewing market trends

• Setting price alerts

Additionally, they have a Telegram group for market trend alerts.

8. Monitor TVL Across Different Chains

If you are optimistic about a public chain, DeFillama can help you monitor the dapps on that chain and their specific situations.

The Mcap/TVL ratio can show which public chains are undervalued, such as the Fantom public chain shown in the image below.

9. Monitor GameFi Statistics

GameFi has great potential, and I usually use Dapp Radar to monitor the TVL and user numbers of these applications, which is an easy way for me to grasp the trends in GameFi.

10. Visualize On-Chain Data

After using Dune Analytics, you can easily spend hours on its dashboard every day.

Go to "Discover" and find "Rank Dashboards" to see what you can discover.

11. Protocol Security

Most of us may not have the ability to grasp the actual security situation of a protocol, but there are many platforms specifically designed to assess risks. DeFi Safety is my favorite, and Rugdoc.io is also popular, although they will soon launch paid services.

12. Track Exploits

rekt shares incidents of different platforms being exploited, and tracking these incidents can help you understand the latest scams in the crypto space and take precautions.

13. Evaluate Key Metrics and Revenue of Different Protocols

I recommend Token Terminal; you can think of it as reading various metrics like the price-to-earnings ratio of traditional financial companies.

14. Track Funding Information in the Crypto Space

Want to know what institutions are investing in? Use Dove Metrics to see where most of the funding is going; it's a great way to understand crypto trends.

15. Stay Anonymous On-Chain

· BISQ Network supports anonymous fiat trading for Bitcoin

· Wasabi Wallet is a non-custodial Bitcoin wallet

· Tornado Cash supports decentralized anonymous trading for Ethereum

It is worth noting that 0xSifu has strongly recommended Tornado Cash.

16. Some Privacy Tools

· Mullvlad - Privacy-focused VPN

· ProtonMail - Privacy-focused email

· Simple Login - Email alias

· Bitwarden - Open-source password manager

· Brave - Privacy browser

Of course, you don't need to adopt all of the above tools, just like Bruce Lee said—absorb what is useful, discard what is not, and add what is uniquely your own.