Developers and users alike are searching for ways to remain safe and informed in the face of uncertainty after a year. Ledger, the hardware wallet provider, has announced a new integration to allow users to track the assets’ values.
Ledger and Merlin announced their partnership on December 13th to provide live DeFi performance analytics for Ledger Live users. The app, which connects to Ledger’s cold storage wallets, services over 5 million users.
The new integrated DeFi tracker connects more than 1,000 DeFi protocols across ten different blockchain networks. Users will be able to access performance metrics, profits and losses reports, as well as aggregated reports on gas consumption and calculated yields.
Co-founder and chief product Officer of Merlin by VALK, Elie Azzi told Cointelegraph that this compiled data allows investors to better navigate all the information at their disposal.
“It is a challenge for them to compile all their trading data without connecting to each individual platform, multiple times, which can expose them to risk.”
Azzi stated that major hacks and scandals in the crypto space over the past year have proven that it has been compromised since its initial decentralization.
Both users and companies are seeking to restore transparency with decentralization as building blocks, as the space is gaining momentum.
“There has never been a stronger argument for DeFi, and for open, transparent and trustless solutions, upon which crypto has always been fundamentally built.”
The new Merlin feature will also allow investors to claim liquidity provider fee and reward directly from the interface, without having to exit the platform.
Jean-François Rochet, the vice president of international development at Ledger, said all of these new integrations help streamline the user experience.
Related: DeFi sparks new investments despite turbulent market: Finance Redefined
Many crypto users began to look at hardware wallets in their quest for greater security after the collapse and subsequent recovery of FTX. Trezor, a provider of hardware wallets, reported a 300% increase in sales revenue following the incident.
Many major players in the space, such as Binance CEO Changpeng “CZ” Zhao and Ethereum co-founder Vitalik Buterin, encouraged self-custody over the last month.
Binance Labs also made a strategic investment in a hardware wallet firm and looks to lead its upcoming Series A funding round.