How to Track Your DeFi Portfolio with Zerion

Transcript

[Music] hi everyone this is d5 dad and this is another bankless tutorial today i'm going to walk you through how i use xerion so xerion is an interface for tracking my defy assets and investments and it really acts as like a portfolio tracker however because xerion also aggregates all of these different assets and

applications that i'm using it has now added the capability of me participating in those different applications so i can do things like become a liquidity provider in uniswap or i can open up a loan with maker or i can open up a loan with compound so we're going to kind of talk through all of that here to get started go to xerion.io and then click on app the first thing i do to start using xerion is i want to connect my wallet and i can connect multiple wallets using metamask fortmatic

any wallet that uses wallet connect coinbase wallet portis or you can use a ledger however the convenient thing is you can also just type it in so i'm going to type in d5dad the cool thing about this is that if you have multiple addresses you can just flip back and forth between them and if you use the mobile app they actually have an aggregate view of all of the different wallets you have so if let's say you have three different wallets and it's worth seven thousand two thousand and one thousand it'll end up showing you in the ios and android app it'll

show you that you have a net total of uh one i'm sorry ten thousand dollars so i can see my net wealth here in terms of all the digital assets that i have on ethereum uh go up and down and up and down and hopefully up again so uh you'll notice here's my my net wealth in this wallet and then over here on the right side you can see a breakdown of some of the common savings mechanisms that i'm using like a wrapped bitcoin vault in maker i've got dye that's been lent to compound through instadap you notice also below that i've actually got a breakdown of what are my actual loans so again there was that maker

vault with wrapped bitcoin uh and then there is my instadap uh compound lending i mean the takeaway here is the fact that this stuff would be a nightmare to keep track of and you know as a fallback if i go to ether scan i can always look up my address and they do a really great job of giving you a breakdown but i like the fact that xerion visualizes all of this and it makes it much more colorful and interesting to look at speaking of colorful and interesting the history tab is where i track my transactions and the reason i like to use it is just it's prettier to look at

than ether scan i get desktop notifications just by clicking up above and allowing those notifications and so when i get those just like a metamask transaction i can click into it and it'll show me here uh what exactly has happened you know like did i pay a fee uh you know uh what tokens did i receive or what tokens did i send and i've even got the ability here to go back and search for let's say eth transactions or i could search for die transactions or maybe i search for rdi transactions so i can search by asset or protocol and that comes in really handy

to be honest i don't know where else i can do that right now uh i think there's a chance zaprify does that but otherwise this is a pretty unique feature that that i use uh the other thing is you can use this actually to help calculate taxes uh they have a partnership with token tax and so uh token tax will end up uploading all of your transactions but you can check it out here to learn more about that next up is the explore tab this is where i can learn about new yield farming opportunities i've got some of the top liquidity pools i can also just look at the top tokens by market cap or even

some of the top performing sets so if you're unfamiliar with sets this is tokensets.com you can learn more about it there those are tokens that give you exposure to trading strategies next up we have this new market tab it's really just a way to look at market cap versus the change in price over one day 30 days and 90 days so just a convenient sort of tool that sits in your dashboard because the goal of xerion is to keep you using this dashboard daily you know this is a tab that i never close so i'm able to rely on this because it keeps track of my wealth it keeps track

of my new transactions it keeps track of market data that i need to track there's just so much here and and so anyways that's enabled me to depend on this daily under the save tab you'll find the nine different markets that are available in compound so this allows you to use the xerion dashboard to lend any of these nine assets to the compound protocol and you'll notice that it gives you the rate here so i could be earning 1.6 on die i could be earning 3.23 on tether these rates are changing and updating constantly so that's another sort of

convenient thing i have available here uh if i wanted to lend to one of these just click on that market and you'll click through two different transactions the first one is to approve permission for my wallet to actually spend die the second one is where i actually deposit the die into the compound protocol this is the exchange on xerion which is where i can trade tokens so i might have ether and i want to sell it for die and so if i sell one ether i'm going to get 319 die that is facilitated by 0x which is

where the liquidity comes from or just where i'm able to source that trade from and then they're just facilitating it uh so i would hit exchange here and once i do that i'll get prompted now on my meta mask so there we go so i would just confirm this if i wanted to do this trade right now because at the end of the day xerion is a dashboard and it's a facilitator or an aggregator of all of these different defy applications then we have liquidity pools this is where i can become a liquidity provider in uniswap or bancore and they've ranked these according to

total liquidity so you can see which of these pools is the largest in terms of total value because if i want to become a liquidity provider in the usdc eath pool i can click add liquidity and then i could say let's add one each and then i'm going to need 322 usdc because this is a 50 50 liquidity pool which means i have to add equivalent amounts of ether and usdc and then folks on uniswap will trade back and forth between that while i own a portion of the pool but then i'll be earning the trading fees or

a fraction of the trading fees if you're unfamiliar with liquidity pools i would recommend going to pools.fyi that's p-o-o-l-s-f-y-i it'll explain more about what it means to be a liquidity provider and why people are willing to put their assets into a pool and earn trading fees but also what is the risk of being a liquidity provider which is commonly referred to as impermanent loss lastly we have the borrow feature this is where i can open up a loan and in d5 loans are over collateralized so i could open up a loan with maker like the one i have here where i have

collateralized 0.014 wrapped bitcoin and then i've borrowed 45.146 die on the other side of that i've got compound compound is another place that i could take out a loan and currently i have 1.019 die but i don't have a loan open with them if i want to open up a new loan i can check out what are the rates i'm currently going to pay 0 apr which these are variable rates so just be aware these rates can change with a governance vote in the future through maker and with compound that rate is actually dictated by how utilized the pool is but if i wanted to borrow

with maker let's pretend i wanted to borrow uh 100 die and my collateral that i'm going to deposit and lock up while i take out that loan is ether it's saying that my estimated collateral required without some other detail that we're going to need would be 0.557 eth so if i were to go borrow that you'll see here that borrowing 100 die is going to put me in what's deemed a risky position just because if the price of ether falls i could get liquidated so what i might do here then is say i'm going to borrow 50 die now i'm only borrowing 41 percent of the credit available to me

and so i'm putting myself less at risk of being liquidated my liquidation price here would be 136.92 so this is this is how low the price of ether has to go before my collateral would be liquidated and i'd be risking a significant loss there and then in order to open this up you can see what the fee would be here where risk comes in is if i use one of these different applications i am using a defy application or protocol and so this is compound under the save function under the exchange function i'm or trading i'm using multiple protocols

like 0x and uniswap under the pulls tab i'm using uniswap and bancore and then under the borrowing tab i'm getting exposure through compound and through maker each one of these is a separate protocol that comes with its own smart contract risk so if i were to let's say open up a vault through maker i would consider going to nexus mutual dot io and buying smart contract cover or insurance uh to protect me from a smart contract bug so that i would get a payout if there were a bug discovered

another thing to consider is just having exposure to stable coins let me see if here we go so we've got some usdc here so there's uh always risk of a stable coin depending or just it failing holding to one dollar another thing with usdc or some of the other stable coins is they can have a centralized risk to them so there is some pause function i believe that is available through usdc so that's something else that i think about all right that's all i've got for you today if you have any questions please feel free to reach us in the bankless discord group if you're a bankless member

or you can comment on this youtube video and if you want to learn more about xerion and try it out yourself go to xerion.io and click on the little button up in the top right that says app [Music] you