Downturns and liquidations for investors using leverage are hallmarks of the crypto bear market. To add insult to injury, hackers and “rug pulls” can cause significant losses for token holders in decentralized finance (DeFi) companies. Now, new programs are being made that will alert investors right away if their investments are in danger.
Users and executives from HAL and Aldrin, two such services, elaborate. HAL is a tool that businesses and traders can use to keep track of and react to data in a Web3 architecture. HAL has put out basic API notifications on Avalanche to make it easier to automate notifications of dangerous positions on the blockchain. While Solana SOL has several DEXs, Aldrin is the first one to undergo a comprehensive assessment.
Marco De Rossi, who helped start HAL, says that users can use any method to report what they think is DeFi activity at an address. Khan warned that tokens with small or medium market caps could lose 70% of a 48-hour gain if Bitcoin or Ethereum broke through key support levels.
He said that rebalancing a portfolio of 25 tokens by hand could take up to 30 minutes, but that Aldrin’s rebalancing tool could do it in just a few seconds. A user of Aldrin, who preferred to remain anonymous, said, “The automated tools provided by Aldrin, such as the Rebalancer and auto-rebalance when providing liquidity in pools, save me a lot of time.”