Here is the story:

We’ve been in DeFi since July 2020 and for us it was always a challenge to calculate our Net Profit after various interactions within different protocols.
No matter how much we love Ultra Sound Money, we still live in a real world where the US Dollar prevails and we are used to measure our financial performance in USD.

What did we do? We created this wonderful tool!

Unlike fellow members of the friendly Web3 ecosystem, who already made a tool that shows how much you’ve spent in gas for transactions, we show you how much you’ve spent gas in USD equivalent. Well, since DeFi is a Wild West, we decided to stick to good ol’ wisdom of Wyatt Earp, who said:
“Fast is fine, but accuracy is everything”

Let’s take a look at a classical example of an honest farmer named John:

John sees an opportunity to get that juicy yield on his big bag of USDC.
He wants to stake his USDC, but before that you know what happens - approval transaction.
After that John can stake his USDC, BOOM - another transaction!

Here we go, John is getting that JUICY yield on his USDC, he decides to play it smart, therefore claiming his reward that is paid out in XYZ token and another transaction happens! He wants to dump that XYZ for USDC, BOOM - transaction. Restake his USDC - TRANSACTION.

Long story short John will execute from 5 to 6 transactions at minimum. So if he staked let’s say $10 000, earned $1 000 in rewards, his Net Profit is actually lower. Due to the fact that the Ethereum Network is sometimes congested the transaction could cost around $90 in gas fees for John, which brings him to $910 of Net Profit, which ain’t much, but it’s an honest work.

Check out how the tool works!

The Business Plan:

1. Enter Your Wallet Address

2. Select Time Period and Network

3. ????

4. PROFIT!!! OR LOSS???

Another question you might ask us, why we did it? WE NEVER ASKED FOR THIS!

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Farmer John on a phone call with his accountant, circa 2020

More exciting features coming up, like other chains, sexy design, graphs, data export and more!
If you have any thoughts, suggestions or ideas, feel free ask questions in the comments.

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