How can you use Unified?
Unified is suitable for users of all skill levels:
Casual users
NFT collectors
Yield farmers
Money market protocol users
Traders
Let us show you how.
For a more detailed overview, please refer to the Use Cases section.
Unified for casual users
For the average casual user, what they face in the cryptocurrency space is nothing short of daunting. To get an overview of their balances, they need to navigate:
Multiple addresses held within each blockchain protocol. For good operational security (OpSec), users often hold multiple addresses which makes it easy for one to lose track of one's holdings.
Multiple time-limited events occurring including airdrops to different addresses. Due to having multiple addresses, users may miss the period during which they can claim valuable airdrops. As airdrops are also usually retrospective, a user may have ceased using that particular address / protocol and may not be aware of their eligibility to claim the airdrops.
Multiple exchange accounts including Coinbase, Binance, etc. Not all cryptocurrency tokens are uniformly available across all exchange accounts so users are often forced to sign up for more than one account. For good OpSec, users have to use 2FA to access each account, which means more efforts by each user to view their own balances in each exchange.
Constantly fluctuating cryptocurrency prices means that it is hard for users to get an accurate snapshot of the value of their portfolio.
Users currently use the following tools (including but not limited to): Etherscan, BSCScan, SolScan, PolygonScan, SnowTrace, FTMScan, Coinmarketcap, Coingecko and the various exchanges they are signed up with.
Or they can use 1 tool: Unified.
Unified allows users to:
Link multiple addresses on multiple protocols to one account.
Link multiple exchange accounts to one account.
View their portfolio value sorted by cryptocurrency (each protocol having multiple cryptocurrencies).
View their portfolio value sorted by protocol.
View their portfolio value sorted by exchange.
View P&L performance sorted by cryptocurrency.
View P&L performance sorted by protocol.
View P&L performance sorted by exchange.
View trends in portfolio values and P&L performance.
View any unclaimed airdrops by protocol.
Trigger a claim for unclaimed airdrops within a particular protocol.
Unified for NFT collectors
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Users currently use the following tools (including but not limited to): [ ], [ ].
Or they can use 1 tool: Unified.
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Unified for yield farmers
Yield farmers seek to deploy their cryptocurrency assets into single-sided, double-sided or multi-sided liquidity pools so as to earn rewards in the form of tokens emitted by a project. In return for these rewards, yield farmers are essentially incurring:
Opportunity cost from locking liquidity into these liquidity pools.
Risk of impermanent loss from the liquidity they provide into double-sided or multi-sided liquidity pools.
The yield is expressed as an annual percentage rate (APR). APR is a function of the value of reward tokens emitted to the user over a 1-year period vs the liquidity provided by the user. The number of reward tokens emitted is based on the emission formula of the project.
For the average yield farmer, there are numerous challenges they face:
Significant changes in emissions impact the APR as the projects change the emission rates over time. Usually, emissions taper downwards over time.
Significant changes (up/down) in the level of liquidity in the liquidity pools impact the APR as users join or leave liquidity pools. The more liquidity enters a liquidity pool, the lower the APR. Vice versa, the more liquidity leaves a liquidity pool, the higher the APR.
Impermanent gain/loss resulting from liquidity provision leads to changing portfolio values. This is the nature of providing more than 1 asset to a liquidity pool, in which the asset weights change over time depending on how assets are traded against that pool.
Users currently use the following tools (including but not limited to): VFAT, [ ].
Or they can use 1 tool: Unified.
Unified allows users to:
View the liquidity they have provided to a project's liquidity pool(s).
View their liquidity as a % of total liquidity provided to a project's liquidity pool(s).
View the APR they are receiving for that project's liquidity pool(s).
View their unclaimed rewards for that project's liquidity pool(s).
Trigger a claim for unclaimed rewards for that project's liquidity pool(s).
Note 1: There is a special class of projects that combines yield farming and money market protocols, i.e. leveraged yield farming projects. Projects in this category include Alpha Homora, Alpaca and Tulip.
Note 2: Unified presents data in APR format, not Annual Percentage Yield (APY) format. The difference between the 2 formats is that APY calculations are higher than APR as it assumes that rewards are compounded daily. The reason that Unified does not present it in APY format is that Unified makes no assumptions about the frequency of compounding. We believe that the raw APR calculation suffices in giving users adequate information to compare the yields on different farms.
Unified for money market protocol users
Money market protocols are decentralized finance (DeFi) protocols that are essentially borrowing & lending markets. Users:
Deposit cryptocurrency assets as savings assets or as collateral assets.
Borrow other cryptocurrency assets, secured against the abovementioned collateral that they posted.
Prominent examples of money market protocols are Aave, Compound and Cream. Block-by-block, the protocols pay interest on cryptocurrency assets deposited. Similarly, the protocols charge interest on cryptocurrency assets borrowed by users.
For users of money market protocols, they are concerned with optimizing utilization and avoiding liquidation events. This entails:
Monitoring the user's current loan-to-value (LTV) ratio which represents the user's current borrowing amount relative to the user's total collateral value.
Monitoring the user's Health Factor, which has to remain above 1 to avoid liquidation. The Health Factor represents the safety of the user's borrowing position derived from the proportion of collateral compared with the total amount borrowed.
Users currently access project dashboards directly e.g. Aave, Compound and Cream.
Or they can use 1 tool: Unified.
Unified allows users to:
View balances of deposited cryptocurrency assets and the net savings APR (decomposed into the gross savings APR and rewards APR) for each of those cryptocurrency assets.
View balances of borrowed cryptocurrency assets and the net borrowing APR (decomposed into the gross borrowing APR and rewards APR) for each of those cryptocurrency assets.
View their LTV ratio on the money market protocol.
View their Health Factor on the money market protocol.
View their unclaimed rewards for the money market protocol.
Trigger a claim for unclaimed rewards for the money market protocol.
Unified for traders
Traders ultimately try to maximize:
Absolute profit.
Return on capital, measured as total profit over their trading capital.
Sharpe ratio, measured as return on capital adjusted for volatility.
From a trader's perspective, having a clear view of all their balances, on-chain and off-chain, is important. Unified goes one step further by providing trader's a detailed view of their exposure on derivative (futures) exchanges, in which notional positions are amplified by leverage.
Users currently access different exchange accounts directly.
Or they can use 1 tool: Unified.
Apart from the balances held by the users on different projects and protocols and Unified allows users to:
View their current spot balances on the exchange.
View their current margin positions on the exchange, including position size, liquidation price, average open price and break-even price.
View their current derivative (futures) positions on the exchange, including position size, notional size, liquidation price, average open price and break-even price.
View current & historical market data on funding rates and open interest levels.
View current & historical liquidation data
Note: For centralized exchanges, Unified uses exchanges APIs supplied by a user to read information specific to his / her account. Users should take care to only provide view-only APIs within the platform.
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