VALK launches Merlin, a smart DeFi portfolio tracker for

LONDON, Sept. 22, 2022 (GLOBE NEWSWIRE) — VALKthe company building an ecosystem of powerful decentralized tools for smart DeFi trading announced today the launch of Merlin, a DeFi portfolio tracker that has solved reporting and analysis difficulties across positions on the blockchain. In a comprehensive dashboard, Merlin provides net worth and transaction history reports for ~1000 protocols across 10 chains, entry and exit date, yield and more to provide P&L statements for major DeFi protocols: Compound, Uniswap V3, Aave, Lido and more coming soon.

“The Ethereum merge event had a tremendous impact in drawing attention to the Ethereum blockchain and the innovation it has supported to date. We see the post-merge phase as an opportunity to build better tools for the next wave of growth, and at Merlin that means enhancing the DeFi experience with a powerful portfolio tracker and intelligent on-chain data analysis,” he said VALK co-founder and CEO of Valk, Antoine Loth.

Current problems with DeFi portfolio management

DeFi portfolio managers and investors lack the necessary tools to get a detailed view of their profits and losses based on their initial investments. Few DeFi portfolio trackers are able to provide comprehensive analysis of the investor’s positions. This means missing out on key metrics like PNL per strategy, aggregated debt/fees, yield (in USD) and others. Most DeFi reporting services only consider the investor’s current portfolio position, which means that an in-depth analysis of individual transactions over a period of time is very difficult. For example, an investor running multiple positions across different protocols in the same asset cannot assess the individual returns from lending on Aave or the daily PNL from executing an LP strategy on Uniswap.

In particular, when executing a strategy with an unstable coin, 2 variables come into play: the return on the invested token (e.g. ETH) and the price of the token compared to the USD. For example:

  • A user deposits 1 ETH into a lending log i.e. on Aave
  • At the time of deposit, the ETH price is $3000 and the yield is 1%.
  • After a year, the user should have an equivalent of 1.01 ETH, but if the price of ETH drops to $2500, it would appear as a gain in ETH but a loss in USD.

Elie Azzi, co-founder and product lead of VALK added: “Other wallet tracking tools can only focus on current (open) positions. This causes problems for users who need to keep a database of all their positions: for PNL reports, strategy comparisons across pools and for tax/accounting purposes. While some tools focus on historical values, these tend to focus more on liquidity pools rather than lending/borrowing/staking positions, although the former accounts for only 1/3 of the $67bn TVL (Total Value Locked) across all major chains .”

Introducing Merlin, a smarter tool for DeFi reporting

VALK’s wallet reporting tool, Merlin, provides a simple interface for users to enter their wallet address and get a clear view of open and closed historical positions related to that wallet. Merlin supports 1000 DeFi protocols and displays portfolio balance and profits and losses in USD/ETH/%, which also takes gas fees into account. It also filters out information by protocol and transaction (e.g. additional liquidity, exchange, deposit, loan and more).

Advanced DeFi users and institutions can turn to Merlin’s calculation engine to analyze and improve their trading strategies in even more detail. On select DeFi protocols Aave, Compound, Lido, Uniswap V3 (and more to be added soon), Merlin calculates Total Return and PNL (in USD) in terms of position, including range, temporary loss and both unclaimed than also claimed fees on LP positions. Soon, Merlin will allow investors to claim fees directly through its interface without having to leave the platform.

About VALK

VALK, which has already launched a successful FinTech private markets platform, has committed to adopting Merlin as part of its phased plan to make Smart DeFi accessible to everyone, from individual traders to institutional wealth managers, by improving accessibility and addressing key issues related to it be solved with DeFi portfolio management.

About Merline

Merlin’s web app allows connectivity via a wallet address or a Web3 connection and analyzes all positions, strategies and overall portfolio insights from the wallet. From transaction history to NAV and PNL calculation, Merlin has the user covered. VALK’s platform serves individual traders (DeFi newbies and locals), DeFi fund managers and administrators, treasury managers and more. Merlin is available and free to use through its app (https://mymerlin.io/) and has opened APIs for industrial use of data and indexing reports.

Keep following Merlin Twitter, linkedin, youtube, telegram and discord.

For press inquiries contact Karla Vilhelem at [email protected]

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a937992e-b59b-4a1b-880b-62f0dcaed636
https://www.globenewswire.com/NewsRoom/AttachmentNg/7901e368-3c56-4f83-a245-3837b21c37c0

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