Home » New Avalanche connection to your financial data reporting

New Avalanche connection to your financial data reporting

Avalanche-based projects can now leverage the web3 financial platform to easily manage a single source of truth.

For projects and investors participating within the Avalanche ecosystem, the challenge of fully tracking the entire financial activity trail becomes increasingly arduous at scale.

The data aggregation of the financial activity trail is a necessity. As a crypto accountant you must create a clear and comprehensive financial reports that anybody can understand. This task would require many complexities to be simplified during the data aggregation process with the end goal of creating a ledger that is not only readable but also understandable.

Web3 Finance: A Single Source of Truth

Cryptoworth‘s software enables Avalanche-based projects to leverage the web3 financial platform to easily manage a single source of truth.

Instead of requiring multiple software solutions for:

  • crypto accounting,
  • portfolio management,
  • financial reporting,
  • AR/AP,
  • and more operational-level processes.

Cryptoworth combines the entire finance workflow into a single place.

Further, it helps teams scale up to ERP solutions. It all starts with connecting your Avalanche wallet which contains  all of your AVAX, Avalanche ecosystem tokens with NFTs, DeFi, and DEX trade data will all consolidate into Cryptoworth’s ledger. It automates the whole blockchain data to financial data consolidation.

DeFi setup: Projects involved in the following activities can use Cryptoworth’s DeFi Setup:

  1. Yield farming: Users deposit their assets into a liquidity pool to earn a return on their investment in the form of new tokens.
  2. Staking: Users lock up their assets in a staking pool to earn a return for helping to secure the network.
  3. Lending and borrowing: Users lend and borrow assets through decentralized lending pools. Using overcollateralized pools to reduce risk.
  4. Trading: Decentralized exchanges (DEXs) allow users to trade assets in a trustless, non-custodial manner, and with pools that provide liquidity to make trading more efficient.

The dedicated DeFi dashboard on Cryptoworth enables full readability

Our DeFi dashboard enables full readability into liquidity pools, APYs, and any other financial data from the protocol.

NFT setup: For non-fungible token projects building on Avalanche, connecting the project wallets will display NFT-related transaction events, including mints, minting fees, NFT buys and sells, etc.
Then, you can manage the NFT assets through the NFT dashboard and through NFT-focused reconciliation tools. Cryptoworth pulls market values for NFTs through any NFT marketplaces connected (Including Opensea, Rarible and Magic Eden).

Avalanche x Cryptoworth Partnership

At Cryptoworth, our mission is to reduce the complexity of cryptocurrency adoption, usage, and management. Through our integration with Avalanche, we are very excited to help the Avalanche ecosystem to improve back-office workflows so that the teams can focus on doing what they do best.   

In collaboration with Ava Labs, Cryptoworth is offering a full free financial quarter trial* of our Cryptoworth Business Tier 1 subscription.

Come try out our solution that is trusted by many well-known projects like Aave, Axie Infinity, cLabs, Moonbeam Foundation and more!

Get started with Cryptoworth’s automation for web3 accountants, or request a Demo with one of our digital assets experts.

Would you like to find out more about Crypto one? Show your interest through our short form here: https://forms.gle/v89njURJyrBmpaNc7

*Conditions Apply


Post navigation

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *