DeFi Accounting
Made Easy
Cryptoworth connects with more than 800 protocols across all major blockchains making DeFi accounting a breeze. It's as easy as just connecting the wallet. We will do the rest for you.
Organizations Succeeding with Cryptoworth
We simplify DeFi accounting
DeFi Tracking & Reconciliation
Seamlessly connect to a large number of DeFi Protocols to your crypto ledger to track and reconcile DeFi transactions.
Farming, Staking, Debt & More
Track multiple operations from yield farming, liquidity pools, farming pools, claimables and debt easily. View data at a balance and transaction level.
DeFi Accounting & Reporting
Numerous challenges lie ahead when it comes to DeFi reporting. Cryptoworth helps you to overcome challenges via state-of-the-art software solutions.
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What is DeFi?
Decentralized Finance, or DeFi, is a mechanism for making financial products available on a Decentralized blockchain network open to the public. We’re accustomed to everything passing through a bank or other financial organizations, such as a global exchange, but DeFi establishes an autonomous system. As a result, anyone can utilize them instead of going via intermediaries like traditional banks or brokerages.Unlike a traditional bank, Decentralized finance systems do not require a government-issued ID, Social Security Number (SSN), proof of address, and other stringent banking requirements like receipts of bills payments. Decentralized Finance also refers to a system in which buyers, sellers, lenders, and borrowers connect peer-to-peer or with a strictly software-based intermediary rather than a firm or organization conducting a transaction using software developed on blockchain.
How Does It Work?
Decentralized Finance, rather than a traditional bank, employs technology to facilitate transactions and services between parties. Along with public blockchains, several open-source protocols are being created, establishing a framework for Decentralized Finance to function on. A finance system requires two main components to function: an infrastructure and a currency. Banks and financial institutions serve as the infrastructure under a centralized system, while fiat money, such as the US dollar, serves as the currency. To provide a comprehensive range of financial services, Decentralized Finance must replace these components.
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