MetaMask Institutional launches DeFi APIs for Institutions

MMI's comprehensive suite of APIs is poised to significantly enhance operational efficiency, data accuracy, and reporting capabilities for institutional users.

by MetaMask Institutional, Rizvi Haider, Simran JagdevApril 16, 2024
DeFi APIs Feature

In the dynamic world of decentralized finance (DeFi), the need for timely and accurate data is paramount, particularly for core participants such as crypto funds, venture capitalists, developers, and builders.

To address these needs, MetaMask Institutional (MMI) is proud to announce the launch of a comprehensive suite of APIs. This initiative is poised to significantly enhance operational efficiency, data accuracy, and reporting capabilities for institutional users.

Understanding the Challenges

For institutional on-chain investors, much of their investment is directed towards DeFi opportunities. This makes access to detailed, reliable DeFi data critical to their operational success. Currently, institutional users are required to integrate with a variety of third-party APIs to obtain a comprehensive and accurate assessment of their portfolio's performance, as well as for effective monitoring and reporting. This reliance on multiple third-party APIs can lead to issues with data discrepancies, increased operational complexity, and challenges in data reconciliation. Additionally, those allocating capital to long-tail DeFi protocols frequently face challenges with unreliable or absent data, further complicating investment decisions and risk management.

Bridging the Gap with APIs and DeFi Adapters

Recognizing the necessity for a standardized, reliable means of accessing DeFi data, MMI has developed robust tools designed to empower users with comprehensive portfolio management, monitoring, and reporting:

  1. API Offerings: MMI’s suite of APIs includes Snapshots and Transaction History APIs, and DeFi read and Write APIs. These tools are designed to create real-time portfolio dashboards, improve data indexing for efficient retrieval, and provide precise P&L and performance data on DeFi positions
  2. DeFi Adapters: MMI’s open-source DeFi adapter standard represents a breakthrough in data acquisition and protocol interaction. They serve as connectors between MMI dashboards and various DeFi protocols, simplifying data access and enhancing information reliability.

These tools aim to cater to MMI users’ essential needs: obtaining deep insights into their DeFi investments to make informed, strategic decisions for portfolio management. By reducing dependence on external data providers and offering a scalable, in-house solution, MMI is set to significantly enhance user experience.

“Metamask Institutional delivers so much value to our fund's operations. Tools like their Snapshots, Defi Adapters, multichain support and Snaps really helped us to concentrate many of our needs into a single reliable partner. Having APIs to access these services has made these operations even simpler.”

  • Gean, Honey Island Capital

Accurate P&L and Performance Data with DeFi Read API

The success of our open-source DeFi adapter standard enables us to extend our range of adapters, providing users with accurate DeFi data across an expanded array of protocols. Notably, our DeFi Read API is powered by our DeFi adapters, offering capabilities beyond the Snapshots and Transaction History API by providing detailed profit and loss (P&L), and performance analytics. Our adapters boast richer data content, with coverage currently extending to approximately 27 protocols.

Through our open-source DeFi adapter standard, protocols can independently develop adapters, enabling MMI and MetaMask users to access protocol-specific data. With the increasing adoption of our open-source library, we foresee a future whereby any new protocol will immediately build an adapter next to integrating with MetaMask, hence ensuring availability of data upon launch of the protocol. If you want to learn more about MMI’s DeFi adapters and its open-source DeFi library, read here.

Looking Ahead: Expanding the Ecosystem

By pioneering these tools, MMI is solidifying its leadership in the industry. Our endeavor to set integration standards is a testament to our commitment to fostering developer ecosystems.

Focused on simplifying access to DeFi data), enhancing programmatic access through read/write adapters, and promoting community contributions, MMI is poised to revolutionize the way institutional users interact with the DeFi ecosystem.

In conclusion, MMI’s launch of APIs and DeFi adapters marks a significant milestone in meeting the evolving needs of institutional DeFi participants. By providing robust, standardized tools for seamless data access and on-chain transactions, MMI empowers its users to confidently and efficiently navigate the complexities of the DeFi landscape.

If you would like to get started with our APIs, please request access here.

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