Ready to drop out of CeFi? Welcome to DeFi! - Four tools that will empower you!

Hey there, degens! How's everyone doing?

I wanted to drop some knowledge for all you DeFi newbies out there, the lot that became disenamoured with CeFi after the likes of FTX, Celsius, and the recent crackdown of CEXes, on how to safely navigate the exciting world of decentralized finance.

Get ready to explore some awesome DeFi tools that will make your journey a whole lot easier!

First up, we have DeFi Llama. This nifty tool allows you to track pretty much every DeFi protocol in existence, it's financials, TVL, inflows, outflows, you name it! It's like having a personal llama assistant that helps you stay on top of your game and make informed decisions. Plus, who can resist that adorable llama mascot? We like alfalfa too!

You can use this excellent dashboard to look for new developments, get to know which are the top performing DApps on the chains you're using, segregated by type as well, so you can basically find apps that'll fit your personal investing criteria, be it AMMs to swap in, Money Markets to borrow/lend, perps to hedge with, stablecoins, you name it!

DeFiLlama landing page

Next, let's talk aboutDex Screener. This bad boy is your go-to for finding the hottest decentralized exchanges and sniffing out the best trading opportunities. With Dex Screener, you'll never miss a chance to jump on those sweet, sweet token swaps. It's like having a superpowered radar for the DeFi universe! You can check out every token pair in existence, get access to real-time charts (With TradingView support as well!), and get info regarding every wallet involved in buying or selling.

You can, for example, use it to find out arbitrage opportunities for token pairs: Say you want to arbitrage on ETH/USDC, you simply type the pair in the search bar and all available LPs will show up, allowing you to know where to buy and where to sell. Sure, profits are small without large liquidity volumes, but you'll be making steady trades with little to no risk at all!

DexScreener landing page

Moving on, we have Debank. This DeFi Swiss Army knife is packed with features to keep you informed and secure. Want to explore different protocols, check your lending positions, or even find new yield farming opportunities? Debank has got your back. It's the ultimate DeFi companion that ensures you're always in the loop

It'll basically serve as your portfolio page would in CeFi, displaying balances, transactions, PnL, lending positions, LP positions, Staking positions, and pretty much everything else!

Another nice feature is their "L2 vault" system. With the recent rallies, we've seen a bunch of scammers and con artists flood the crypto market, it's not uncommon to see fake links being posted on pretty much all crypto subs, expecting you to connect your wallet to drain it. By depositing your stables to the L2 vaults, it'll be separated from your wallet through account abstraction, which means that scammers won't be able to drain it even if you do slip and sign txns on scam pages, which brings us to the next and final tool...

Random wallet's Debank portfolio

And finally, Wallet Guard! Talking about scams, how cool would it be to have transactions be simulated before you ever get a Metamask notification? Well, you can download the Wallet Guard extension for your browser and it will automatically do so whenever you're interacting with a smart contract.

Through this mechanism, you'll be able to tell precisely what will happen if you sign that txn, which balances will be claimed, which allowances will be signed, and it will also cross-check the URLs you're interacting with against an internal database of DeFi protocols to help you avoid impersonators or fake pages! An outright amazing tool to bring you some security on your journey!

Wallet Guard dashboard

Honorable mentions: I didn't include these since they might be less useful for newbies, but they are still great tools in their own merit.

Bubble maps

Zerion

So that's it, peeps. Hope ya'll get some value from this post. If this manages to get you some gains or help you avoid some scams, be sure to drop a sweet-talking comment!

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