Ledger hardware wallet adds DeFi tracking feature

Published at: Dec. 13, 2022

Users and developers are seeking out ways to stay both safe and informed after a year of volatility and uncertainty. During this shift, the hardware wallet developer Ledger announced a new integration for users to track the value of their assets. 

Ledger and Merlin, a decentralized finance (DeFi) portfolio tracker, announced their new partnership on Dec. 13 to bring live DeFi performance analytics to Ledger Live users. The app, which connects to Ledger’s cold storage wallets, services over 5 million users.

The newly integrated DeFi tracker connects over 1,000 DeFi protocols across ten blockchain networks. Users will have access to performance metrics and profits and losses reports, along with aggregated reports of gas spent and calculated yields.

Elie Azzi, co-founder and chief product officer of Merlin by VALK, told Cointelegraph how this compiled data helps investors better navigate everything 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 continued to say that the major hacks and scandals of the last year have shown us that the crypto space has been compromised from its initial decentralization.

As the space picks itself up, both users and companies are looking to reinstate decentralization with transparency as building blocks.

“There has never been a stronger argument for DeFi, and for open, transparent and trustless solutions, upon which crypto has always been fundamentally built."

Additionally, the new feature from Merlin will allow investors to claim liquidity provider fees and rewards straight from the interface without the need to exit the platform.

Jean-François Rochet, the VP 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

After the collapse of FTX, many users in the crypto space began looking towards hardware wallets as part of their strategy to keep their assets more secure. Trezor, a hardware wallet provider, reported a 300% surge in sales revenue after 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.

Tags
Cryptocurrencies
Defi
Wallet
Hardware Wallet
Ledger
Related Posts
Scammers mail out fake hardware wallets to victims of Ledger data breach
The consequences of Ledger’s major data breach continue to be felt almost a year later. One contributor to the r/Ledgerwallet forum on Reddit, writing under the tag u/jjrand and self-identified as one of those affected by the breach, has posted images of what appears to be a fake Ledger Nano X wallet received in the mail. Wrapped in seemingly authentic packaging, the device nonetheless included several tell-tale signs that sparked the contributor’s suspicion. Most jarringly, the package came together with a poorly written letter claiming to be signed by Ledger CEO Pascal Gauthier, telling its recipient: “For security purposes we …
Business / June 17, 2021
Ledger Wallet Warns of Fake Google Chrome Extension Stealing Crypto
Major cryptocurrency hardware wallet supplier Ledger has warned its users about another phishing attack trying to steal their crypto — this one using a Google Chrome extension. In a March 5 tweet, the French crypto company specified that there is a fake extension on Google Chrome browser that attempts to steal users’ crypto by asking them to enter their 24-word recovery phrase to access their wallet. Ledger Live gets removed from the Chrome Web Store The phishing attack was reported by Catalin Cimpanu, a cybersecurity reporter at business technology news website ZDNet on March 4. According to Cimpanu, the malicious …
Altcoin / March 6, 2020
Ledger Commits to Remedying Nano S Update That Decreased Storage Capacity
French cryptocurrency hardware wallet company Ledger published a post on its official blog on Feb. 14 apologizing for issues with a recent firmware update for its Ledger Nano S. Specifically, the update reportedly decreased the device’s storage capacity, which the firm has promised to remedy. “This was not planned obsolescence, simply put, we messed up. We apologize and we’re committed to making it right,“ the post states. Some users had interpreted the firmware version 1.5.5 update as a way to bring planned obsolescence to the Ledger Nano S. The reason for the suspicion is that the update was released shortly …
Blockchain / Feb. 15, 2019
Coinbase Wallet extends support to Ledger hardware wallet
Coinbase Wallet, an in-house wallet service offered by prominent crypto exchange Coinbase, has rolled out browser extension support for Ledger hardware wallets. The Coinbase Wallet extension, available in the Chrome Web Store, is a noncustodial wallet that allows users to store and transact cryptocurrencies and nonfungible tokens (NFT). By adding support for Ledger, Coinbase users can opt to use a physical Ledger device to store the private keys to their wallets offline. Coinbase senior product manager Adam Zadikoff highlighted the development as being a means to providing an additional layer of security and greater peace of mind for users. He …
Blockchain / Feb. 22, 2022
Ledger launches NFT-focused hardware wallet Nano S Plus
Ledger, a major supplier of hardware wallets designed for secure storage of cryptocurrencies like Bitcoin (BTC), is launching a brand new wallet specializing in nonfungible tokens (NFTs). The new product, called Ledger Nano S Plus, is the next generation to the original Nano iteration released in 2016, and is designed with NFT collectors' needs in mind, Ledger announced to Cointelegraph on Tuesday. The new Ledger Nano S Plus is the sixth hardware wallet produced by Ledger since the company introduced its first wallet HW1 back in 2015, the company’s chief experience officer Ian Rogers told Cointelegraph. The product is also …
Adoption / April 5, 2022