Hardware wallet company, Ledger, has integrated a new DeFi tracking protocol in their wallets to enable users to track the value of their assets. Earlier this week, they announced that they would be working with Merlin, a portfolio tracker for decentralized finance (DeFi), to give Ledger Live customers access to real-time data about the performance of their cryptocoins.
Currently, there are over 5 million people using the software, and it’s linked to all the different Ledger wallets available including the recently created Ledger Stax.
The new DeFi tracker connects over 1,000 DeFi across 10 blockchain networks and shares insights into gas usage, profits or losses made, and other relevant performance metrics.
The co-founder and chief operating officer (CPO) of Merlin, Elie Azzi, said that “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.”
The VP of global development at Ledger, Jean-Francois Rochet, says that these new integrations make investments easier for users.
Azzi mentioned that these “major hacks and scandals of the past year” are some of their biggest inspirations for fostering this new DeFi tracking integration and hopes to increase trust in blockchain, and help users enjoy decentralization, transparency, and security as they trade.
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.
Moving with the current trends, Binance Labs has also made plans to invest in a company that makes hardware wallets and plans to lead its upcoming Series A fundraising round.