Yield Monitor Adds DeFiChain Blockchain to its Database October 20, 2022 October 20, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 20, 2022 by Kelly Cromley

Yield Monitor Adds DeFiChain Blockchain to its Database

Yield Monitor, a DeFi multi-chain asset analyzer, has integrated the DeFiChain (DFI) blockchain into its yield monitor library to assist users in using its on-chain statistics to discover the best deals possible.

DeFiChain is the second non-EVM mainnet inclusion for the network. Every addition adds millions of data points to Yield Monitor’s network, which is constructing an autonomous, scalable multi-chain library that makes DeFi portfolio monitoring and investment possibilities more convenient to everybody.

Yield Monitor is a return analyzer for top DeFi networks that further tracks profits, levies, and aggregated effectiveness. DeFiChain has integrated the Algorand (ALGO), Avalanche (AVAX), Binance (BNB), Ethereum (ETH), Fantom (FTM), and Polygon (MATIC) networks into its database.

Yield Monitor enables its customers to simply monitor transactions on these chains with powerful analytics and perform on-chain ratio analysis in order to uncover the greatest yields while monitoring past results. More significantly, it displays to users the groups with the best consistent performance and the greatest returns across all tracked chains.

The latest inclusion will allow users to obtain in-depth knowledge into DeFiChain’s on-chain analytics. Investors and programmers will be able to monitor assets stored in wallets on the DeFiChain blockchain as well as channel cross-chain activities to maximize cost and efficiency.

“We are delighted to be forming a partnership with the DeFiChain group. The core group is very devoted and receptive of the different ecosystem-enhancing architects and makers. “It’s an honor to add DeFiChain to our dataset, and we’re happy to begin creating long-term, productive connections with DFI investors and current teams in the months ahead,” said Christophe Dupont, CEO of Yield Monitor.
“We were impressed by Yield Monitor’s rapid development, particularly considering its tiny staff size. This demonstrates the quality of their offering and their commitment to establishing a robust database framework backbone. Mark Pedevilla, DeFiChain Ambassador and News Anchor, said, “We are pleased to see the functionalities they are planning for DeFi investors and their usefulness in establishing a genuinely accessible, multi-chain DeFi community – one where DeFiChain will perform a critical role.”

DeFiChain, which generates decentralized assets (aka dTokens) that act identically to stocks, provides users with unparalleled price exposure, but not ownership, to the underlying securities and ETFs. Without the requirement for a broker and perhaps other middleman, members of the Bitcoin-based DeFi ecosystem may sell fragments of tokens they’ve produced.

dTokens monitor and mirror a variety of variable parameters, and they employ oracles to gather those data inputs. Due to changes in dToken availability and demand, the value of dTokens may not constantly correspond to the value of the underlying asset. A dToken may be stored as an investment, exchanged on the DeFiChain DEX, or utilized for DEX Liquidity Mining.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.