Executive Summary
In the rapidly evolving world of decentralized finance (DeFi), having readily accessible and easily understandable data is crucial. However, extracting and interpreting data from the blockchain requires considerable coding knowledge, which may pose a barrier to many fund managers. To address this challenge and to make our platform more user-friendly, we propose adding a feature to dHEDGE that allows for the export of key fund metrics in .CSV and .XLSX formats.
The Proposal
Our proposal involves incorporating a feature into the dHEDGE platform that allows users to export key fund metrics in universally accessible formats (.CSV and .XLSX). The feature will enable fund managers and investors to export data, such as total value locked (TVL), portfolio compositions, historical returns, risk measures, pool token price, and fund flows, thus eliminating the need for complex coding knowledge to extract this data.
Benefits
- Accessibility for Non-Coders: The feature bridges the gap between sophisticated blockchain technology and fund managers who may not have advanced coding skills. It allows these managers to leverage their existing knowledge of tools like Microsoft Excel for data analysis and risk management.
- Enhanced Risk Management: By providing data in a more accessible format, we enable fund managers to better utilize their risk management tools. This could lead to more effective strategies and risk mitigation, enhancing overall portfolio performance.
- Personalized Analysis: This feature allows fund managers to carry out detailed, customized analyses using their preferred software, thereby facilitating personalized investment strategies.
- Platform Adoption and Satisfaction: By providing an easy-to-use feature, we can attract more users to our platform, as well as increase satisfaction and retention rates among our existing user base.
Implementation
The implementation of this feature involves several steps:
- Front-end Development: A user-friendly interface will need to be created that allows for simple and intuitive data selection and export.
- Back-end Development: Our team will need to construct the necessary infrastructure for collating the desired data and converting it into the chosen export format.
- Smart Contract Integration: To retain the platform’s decentralized nature, we might need to create or modify a smart contract that interacts with the blockchain to extract and convert the data.
- Security and Compliance: Ensuring user data privacy and security is of utmost importance. Therefore, implementing this feature should be done in compliance with data privacy laws and best practices in DeFi.
Conclusion
The proposed feature is a strategic enhancement that meets the needs of our user base, especially those with limited coding abilities. By making key fund metrics readily exportable, we not only empower our users to perform more detailed analyses and risk assessments but also make our platform more user-friendly and competitive. Hence, we strongly recommend adding this feature to the dHEDGE platform.