Announcing UTU’s DeFi Portal MVP
The DeFi Portal uses UTU’s trust infrastructure to show how trustworthy DeFi platforms are.
We are excited to launch the MVP (Minimum Viable Product) of our DeFi Portal!
The number of DeFi platforms has exploded, and it’s tough to decipher which are legitimate or risky to put your money into. So we’ve applied our trust infrastructure and built the DeFi Portal to help you identify DeFi protocols that are trustworthy to interact with.
Let’s dig in to see how the portal works and how you can try it out.
How the DeFi Portal works
Here’s a quick overview of what’s going on behind the scenes in the DeFi portal.
After you enter your Ethereum wallet address into the portal, our trust engine scans the Ethereum network for the last 100 transactions that you’ve executed with your address. Then it will identify addresses that you’ve interacted with in the past, scan the last 100 transactions for these addresses, and display the protocols that you have in common.
This essentially builds a trust graph based on the addresses and platforms you’ve interacted with, similar to how Twitter or Facebook recommends followers or friends you have in common. The initial assumption is that the more of your network uses a particular DeFi platform, the more trustworthy that platform is.
We will also add more functionality in the coming weeks, such as:
- Include the display of trading pairs that you and your network have in common (the current Trading Pair section in the app is a placeholder).
- Make the recommendations and images clickable, linking to more detailed info and the Etherscan pages for addresses.
- Add controls to give explicit feedback for protocols (such as video, text, and badges) and show them in the detailed recommendation view.
- Add more DeFi protocols to be analyzed.
- Additional improvements, like increasing the number of evaluated transactions, and other optimizations under the hood.
Test the DeFi portal now
Please note that this is the very first version of the portal, so it will not work perfectly. But we wanted to get it out into the wild to show you how it works and the potential of the product.
And we would love to hear your feedback!
Here’s how to access the portal and provide feedback:
- Navigate to https://defi-portal.utu.io/.
- Copy and paste your Ethereum wallet address in the field labeled “Enter ENS domain or a Ethereum address” and click the “Let’s Go!” button. Note: Entering an ENS domain or connecting a wallet does not work at the moment.
3. The app will direct you to your Dashboard, which will display the DeFi protocols that you’ve interacted with and how many others in your network have used each of these platforms. It will look something like this:
4. Fill out this short form with your feedback on the portal.
We hope that you like this very early version of our DeFi Portal!
While it’s still incomplete, we hope you can see the potential in the platform. We believe this portal will help increase the trust and transparency of the DeFi world.
Please give the portal a shot and let us know what you think.
Thanks for your support!