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The Ledger hardware wallet now adds DeFi tracking ability

The Ledger hardware wallet now adds DeFi tracking ability

After a year of instability and not having a clue what will happen next, both users and developers are looking for ways to stay safe and informed. During this change, Ledger, a company that makes hardware wallets, showed off a new integration that lets users track the value of their assets.

On December 13, Ledger and Merlin, a portfolio tracker for decentralized finance (DeFi), announced that they would be working together to give Ledger Live customers real-time metrics about the performance of DeFi. More than 5 million people use the software, which connects to Ledger’s cold storage wallets.

With the new DeFi tracker, more than 1,000 DeFi protocols are now linked across 10 blockchain networks. Along with reports on how much gas was used and how much was made, users will also be able to see reports on profits and losses and performance metrics.

Elie Azzi, co-founder and chief operating officer (CPO) of Merlin by VALK, told Cointelegraph how this information helps investors better understand all of their options.

They can’t get all of their trade information without connecting to each platform over and over, which puts them in danger. Azzi went on to say that the major hacks and scandals of the past year showed how vulnerable the crypto ecosystem has become since it was first decentralized.

As the market starts to get better, both users and companies are working to get decentralization and transparency back.

The writer states that the case for DeFi and the open, transparent, and trustless solutions that have always been the foundation of cryptography has never been stronger.

Investors will also be able to collect fees and rewards from liquidity providers right from the interface, without having to leave the platform. This is a new feature from Merlin.

Jean-Francois Rochet, vice president of global development at Ledger, says that all of these new integrations make it easier for users.

Even though the market is uncertain, DeFi encourages new investments: Changes to Money

After FTX went out of business, many people in the cryptocurrency industry started using hardware wallets to keep their money safer. The event led to a 300% increase in sales for Trezor, a company that makes hardware wallets.

Binance Labs also made a smart investment in a company that makes hardware wallets and plans to lead that company’s upcoming Series A fundraising round.

About MahKa

MahKa loves exploring the decentralized world. She writes about NFTs, the metaverse, Web3 and similar topics.

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