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As we move into the latter half of July, weāre thrilled to share an extensive development update. Our commitment to enhancing user experience and protection has spurred significant milestones in our product suite, with four key updates occurring in the past fortnight alone.
GeckoTerminal Now Uses the De.Fi APIĀ
The first significant update involves GeckoTerminal, which has adopted our De.Fi Scanner API ā the essential web3 antivirus. This integration will allow GeckoTerminal to provide its users with robust protection against high-risk digital assets.Ā
Users of GeckoTerminal now have the benefit of instant analysis of the assets they explore. Upon selecting any token in the GeckoTerminal, users can click on De.Fi to get an immediate smart contract audit and liquidity analysis of the asset.Ā
The smart contract audit is thorough, evaluating the contract for signs of potential fraud or other irregularities. Itās the equivalent of having an expert look over the contract to verify its authenticity and safety. On the other hand, the liquidity analysis offers a glimpse into the assetās market status. It provides insight into the availability of the asset in the market, which can be a critical factor in investment decisions.
This integration marks a notable step forward in ensuring a safer web3 environment.
Avascan has Adopted the De.Fi API
Weāre also excited to announce that Avascan, the official blockchain explorer for Avalanche, has adopted the De.Fi Scanner API.Ā
Avascan is an integral part of the Avalanche blockchain ecosystem, providing its users with comprehensive information about various blockchain transactions, assets, and addresses. With our De.Fi Scanner API now built into Avascanās system, this comprehensive information extends to real-time insights into the legitimacy of tokens and early detection of potentially malicious contracts.
But the benefits of this integration extend beyond individual user safety. By facilitating a safer exploration environment for its users, Avascan contributes to the overall health and integrity of the Avalanche blockchain ecosystem. When users are better protected and more informed, the entire system benefits from increased transparency, trust, and stability.
Ankr is now using De.Fi API
Further expanding our collaboration theme, weāve teamed up with Ankr.
Ankr is a frontrunner in the DeFi space, especially known for facilitating cross-chain staking ā a feature that allows users to stake their digital assets across multiple blockchain networks. This feature, while incredibly powerful and profitable, requires comprehensive and accurate data to function at its best. Thatās where our API comes into play.
With our API now integrated into Ankrās platform, the latter is equipped to fetch real-time data on Annual Percentage Rate (APR) and Total Value Locked (TVL) of Liquidity Pools (LPs) and Vaults directly within their Web3 Dashboard. This integration marks a significant advancement in the platformās capabilities.
De.Fi Improves Shield to fight fake approvals!
Finally, weāve made important updates to the DeFi Shield to combat a recent scam trend known as āfake approvalsā.Ā
In past cases, when users attempted to revoke these deceptive approvals, scammers used āgas tokensā to steal funds. Fake approvals were identifiable by their unknown protocol, recent approval date, and recently deployed or unverified contracts.Ā
With the DeFi Shield update, weāre taking this burden off our users. The system automatically detects the hallmarks of fake approvals, ensuring these potentially harmful contracts are not displayed to the users. Itās a significant step toward simplifying the user interface and allowing users to navigate the platform with greater confidence and peace of mind.
Conclusion
The last couple of weeks have been monumental for our development team, and weāre proud of these considerable advancements. As always, our aim remains to provide our users with the most secure and efficient tools to navigate the DeFi and web3 landscape. We look forward to what the next update will bring and thank our users for their continued trust and support.
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