Cryptocurrency News

Yield Monitor Incorporates DeFiChain to Provide Additional On-chain Data to Investors

By October 20, 2022 No Comments
Yield Monitor incorporates DeFiChain

Key takeaways:

  • Leading blockchain network DeFiChain has been incorporated on Wednesday into the Yield Monitor database, making it the second non-EVM mainnet integration on the platform
  • Yield Monitor looks forward to offering its users clear insights into the on-chain metrics revolving around the DeFiChain Blockchain following the latest development

Top-rated multi-chain portfolio tracker for decentralized finance (DeFi) users, Yield Monitor, has announced that it has integrated the DeFiChain blockchain into its database. This marks another addition to the platform’s growing list of supported DeFi projects, which currently include Algorand, Avalanche, BSC, Ethereum, Fantom, and Polygon.

As the adoption of DeFi continues to approach mainstream, existing and new projects within the ecosystem are deploying possible measures to further expand the efficiency of decentralized services. Yield Monitor is one of the renowned DeFi projects seeking to provide DeFi users with multichain portfolio tracking services. Hence, making relentless efforts to allow creators and investors within the DeFi space to enjoy vivid insight into relevant metrics.

Basically, Yield Monitor is committed to offering its users within the DeFi space, especially investors and developers, access to multiple assets, liquidity pools, and yield farming performance data. These features are presented in the form of wallet tracking and visual charting tools.

Meanwhile, the DefiChain blockchain is one of the world’s leading reputable blockchains leveraging the power of the Bitcoin network. The network is dedicated to bringing exclusive, fast, intelligent and transparent DeFi services to users within the DeFi space.

The development reflects Yield Monitor’s unrelenting efforts to build a scalable multichain database to help provide more investment opportunities while also simplifying the complex nature of DeFi portfolio tracking for users.

The CEO of Yield Monitor, Christophe Dupont, expressed the platform’s delight on the new development. Dupont’s statement reads:

“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.”

DeFiChain incorporates into Yield Monitor’s database

According to a press release, Yield Monitor has incorporated DeFiChain into its ecosystem following plans to provide its users with insights into the on-chain metrics around DeFiChain.

By means of the partnership, DeFiChain has joined the list of renowned blockchain networks that have previously incorporated with the Yield Monitor’s database, including Ethereum and BSC, among others.

Prior collaborations on the platform suggest that Yield Monitor is committed to establishing healthy relationships with reputable blockchain networks. Thereby aiding its efficiency in providing support for various builders and creators that brings value to the ecosystem.

Notably, the platform’s collaboration with the DeFiChain blockchain marks the second non-EVM mainnet integration happening in the Yield Monitor’s ecosystem.

Users can now enjoy better on-chain metrics insights

According to the announcement, the development will see users of Yield Monitor enjoying exclusive insights into the on-chain metrics revolving around the DeFiChain blockchain.

As such, investors and developers within the platform will have the opportunity to track assets held in wallets on the DeFiChain blockchain. Furthermore, investors and developers will also have access to enroute cross-chain transactions in order to easily optimize price and efficiency.

The Ambassador and News Anchor at DeFiChain, Mark Pedevilla, also expressed the team’s excitement following their collaboration with Yield Monitor. Pedevilla’s comment reads: 

“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.”