The term “debank” refers to the action of depriving someone of banking facilities, according to the Collins English Dictionary.

 In contrast, Debank is also the name of a web application that functions as a native messaging platform and web3 portfolio tracker covering various cryptocurrency assets, decentralized finance (DeFi) protocols, and non-fungible tokens (NFTs), across multiple Ethereum Virtual Machine (EVM) blockchains.

what is debank and how does it work

DeBank is a comprehensive DeFi dashboard and management platform that aggregates data from multiple block explorers to provide a consolidated view of users’ DeFi portfolios. 

It allows users to track their holdings, positions, outstanding debts on loans, pending rewards across over 800 protocols on more than 15 different blockchain networks, and even view others’ activities. Here is how DeBank works:

How DeBank Works:

1. Aggregating Data: DeBank aggregates data from various block explorers to offer a comprehensive view of users’ assets without accessing their funds, ensuring privacy and security.
2. Features:
   • DeFi Dashboard: Provides an overview of your portfolio, including tokens in your wallet and crypto deposited in DeFi protocols across multiple chains.
   • DeFi Analytics: Offers Web3 data services to developers for real-time information on users, projects, and tokens.
   • DeBank Stream: Provides a Web3 social feed where users can earn rewards by engaging with the platform.
   • NFT Viewing: Allows users to view the NFTs held in their wallets.
3. User Interface:
   • Users can connect their wallets like Rabby, Metamask, or Coinbase to access the platform easily.
   • The platform is user-friendly with features like a “Stream” tab for social interactions and a “Transactions” tab for viewing recent transactions.

DeBank also offers services like “DeBank Hi,” where users can set a price to receive direct messages from strangers, enhancing communication between Web3 projects and users.

 While DeBank provides valuable insights into DeFi portfolios, it’s essential to note potential cons such as security risks due to its non-custodial nature and accuracy issues with complex portfolios.

Complete Guide (Debank) Airdrops

1. Visit the DeBank dashboard.
2. Connect your Wallet.
3. Mint a Web3 ID by going into the account settings.
4. The top 50,000 users in their Web3 Social Ranking can mint for free; the rest need to pay $96.
5. It’s very likely that they would launch their own token in the future and could also do an airdrop to early users of the platform.
6. Please note that there is no guarantee that they will do an airdrop and that they will launch their own token. It’s only speculation.

You’re interested in more projects that do not have any token yet and could potentially airdrop a governance token to early users in the future.