Down the Rabbit Hole: Shunya

Down the Rabbit Hole: Shunya

Decentralized Finance (DeFi) started with the introduction of DAI, a stablecoin, followed by the notion of a decentralized debt marketplace, financial markets, and DEXs, which allowed to borrow, lend, and swap assets trustlessly. Several new concepts, such as yield farming, staking, airdrops, and liquidity mining, were introduced in early 2020, making this space more fascinating.

Maintaining a portfolio in DeFi led to creating a product for the public, removing the need for numerous platforms to access and manage your portfolio.

Shunya's creators have been in DeFi since 2017. They've also created the nuo network, a decentralized debt marketplace. Aniket began his career as an entrepreneur, working on his own firm, Fanspole. They also worked on significant protocols such as Aave, MakerDAO, and Balancer.

Shunya was founded in September 2021 to address a personal issue that individuals were having with keeping track of their investments. Many entrepreneurs have been able to construct global, trustless, and transparent financial services such as loans, savings, insurance, trading, and much more, thanks to the implementation of smart contracts within the Ethereum blockchain.

People did insurance, borrowing, lending, swaps, staking, and other things on Ethereum as early DeFi users, but by 2020, the DeFi space had seen a very drastic rise in TVL from $20M to $100B+ by introducing many new complex topics like yield farming, liquidity mining, and so on, making it extremely difficult to keep records of portfolio across protocols, chains, and wallets, and there wasn't any single reliable tool to be used.

Source: DeFilama

People began using excel sheets as well as a variety of portfolio tracking software, which proved to be a time-consuming procedure. A surprising number of DeFi customers had the same issue with accurately tracking their portfolio.

DeFi customers had the same issue with accurately tracking their portfolio. That is what marked the need for the launch of Shunya, a personalized DeFi deep analytics platform aimed at investors, where people can track all assets' profit and loss, as well as extensive asset analysis, current wallet positions across protocols/blockchains, and much more.

Protocols and Blockchain supported by Shunya

Shunya currently supports the following protocols:

  • Aave (v1, v2)
  • Compound
  • MakerDAO
  • Uniswap (v1, v2, v3)
  • Curve Finance
  • Pancakeswap
  • SushiSwap

Shunya currently supports the following Blockchain:

  • Ethereum
  • Polygon
  • Arbitrum
  • Binance Smart Chain

Benefits of Choosing Shunya

Shunya is a DeFi customized dashboard that focuses on the following factors.

  • Accuracy: Shunya's goal is to give accurate details for higher accuracy, which is a critical component of any finance application.
  • P&L: Shunya has solved this essential component by computing the P&L of assets in the wallet dependent on a cost basis, loan, and LP holdings, while taking underlying asset pricing variations into account.
  • Stability: The blockchain infrastructure is broken, and aggregating data from many sources is difficult. Shunya went straight to the data source, the single reliability source in smart contracts. Multiple redundancies have also been introduced to maintain the system stable and reliable.
  • Deeper Analytics: Shunya provides you with extensive insights such as permanent loss, awards accrued, LP growth, and so on.
  • Alerts: Never skip any single update of live positions in DeFi's vital parameters.
  • Transactions: Accounting-friendly transactions are pooled across multiple supported chains. Across all these chains, you can track your income (airdrops, liquidity mining, APY from lent assets, etc.), capital losses/gains, and gas consumed.
  • Opportunities & Insights: Shunya will analyze your portfolio and recommend risk-adjusted possibilities across supported protocols, allowing you to make more informed financial decisions in DeFi.

Using Shunya

Here is how to start using Shunya:

  • Fill in your username and click on Login from the top right corner and choose to log in with MetaMask.
  • Now you can check your asset details and positions.

The Bottom Line

Shunya is a DeFi deep analytics platform aimed at investors, and all of the existing capabilities offer you high-level portfolio data.

Connecting your web3 wallet is straightforward, and you'll be able to track your assets positions across supported platforms and liquidity positions in no time.

The Shunya team is now working on alerts (a significant announcement is coming soon), the Rule Engine (personalized opportunities depending on risk appetite), and bundle wallet features to be launched soon.