All you need to know about Zerion

Preface

A DeFi asset information aggregator refers to a product that allows users to perform all operations on a single interface without the need to visit multiple trading platforms and execute a series of transactions. It enables users to track the performance of their asset portfolios and integrates various applications such as lending, investing, and trading. With the development boom in the blockchain industry, DeFi asset information aggregators have emerged as products that cater to market demand, facilitating asset management and enhancing user experience.

Zerion is one such DeFi asset information aggregator, offering a range of features. Its key feature in asset tracking is the use of chart-like candlestick visualization to display asset value changes, providing a clearer and more intuitive view. This article will delve into the detailed functionalities of the Zerion platform and analyze the current industry development and competition.

Zerion Overview

Three co-founders in San Francisco initially founded Zerion. These co-founders previously worked together at Tokenary, an Ethereum wallet company, and were involved in developing the Jufy project.

The project has gone through three rounds of financing, including seed, Series A, and Series B, raising a total of $22.5 million. The most recent funding round, Series B, was completed in October 2022 and included investments from notable institutions in the crypto industry, such as Wintermute Ventures, Mosaic, Alchemy, and Placeholder. Zerion has not yet issued its own token, but there are expectations of potential airdrops in the market. Zerion has announced a collaboration with Gensis NFT, and users who own Legendary Edition and Rare Edition Gensis NFTs can enjoy zero fees on the Zerion platform starting from May 18.

The Zerion platform has a clean and user-friendly interface, with the main features located on the left side of the platform. Users can easily navigate through different functionality categories, and in addition to the web version, the team has also launched a mobile app called Zerion Wallet, which replicates all the functionalities of the web version. The platform has already accumulated a significant user base, particularly during bullish market conditions. However, due to low user stickiness and the impact of macroeconomic downturns in the industry, attracting new customers has been limited, resulting in a stable user count.

Product Features

Zerion offers key features such as asset tracking, asset trading, and asset search. Additionally, it provides additional functionalities including historical transaction record queries, support for NFT transfers, asset bridging, and asset collections. The following sections will provide detailed explanations.

Asset Tracking

Users can connect their wallets to the Zerion platform, which currently supports wallets such as Zerion Wallet, MetaMask, WalletConnect, and Ledger. On the wallet connection page, users can also track their assets and liabilities by entering ENS, Ethereum, BSC, or Polygon addresses. The platform automatically adds the entered addresses to the user’s wallet watchlist, eliminating the need to re-enter the desired addresses in the future.

Image source：https://app.zerion.io/connect-wallet

The dashboard data interface of Zerion is characterized by its ability to display the value trends of wallet assets in the form of charted lines. The time range for these charts can be as short as one hour or as long as one year, allowing users to visualize the changes in their asset values. The bottom section of the K-line chart displays all asset activities, including individual token assets and pool investment amounts. The platform not only discloses the asset allocation amounts but also provides a 24-hour profit change percentage. By clicking on a specific token asset, users can view the token’s value chart, realized profit value, average purchase cost, total gas fees spent on purchasing the asset, and 24-hour profit change. In fact, this page directly redirects to the trading page for that asset.

Image Source：https://app.zerion.io/

The dashboard asset data page also provides a feature to purchase encrypted assets, currently only supporting the Ethereum network. Users can directly purchase encrypted assets for their wallets using credit cards, debit cards, or bank transfers.

Asset Trading

Zerion provides the functionality of token exchange trading, allowing users to find the best quotes across different exchanges. Acting as an aggregator between users and various platforms, Zerion offers a user-friendly interface where users can select the tokens they want to exchange from their own assets, input the quantity, and choose between 1% and 3% slippage settings. Users can also select between fast, average, and regular gas network options. Once the relevant parameters are set, users can simply click on the trade button, and Zerion quickly finds the exchange platform with the lowest quote, displaying the associated gas fees.

Zerion charges a 0.5% fee for this feature.

Image Source：https://app.zerion.io/swap

Asset Search

Zerion provides a search function that allows users to query information about NFTs, token assets, and index tokens. The platform includes a recommendation feature, which suggests various index tokens such as DeFiPulse Index and BasketDAO, high market cap DeFi tokens like UNI, NFT protocol tokens, Layer-2 protocol tokens, and social tokens. By clicking on the recommended tokens, users can view the price chart and token overview, as well as engage in buying and selling transactions. Additionally, Zerion has tagged commonly used assets for easy searching, with the relevant asset tags located at the bottom of the investment page.

Image Soruce：https://app.zerion.io/explore

Current Development Status

According to Dune Analytics, Zerion has achieved a total transaction volume of over $4.58 trillion, with nearly 280,000 transactions and approximately 57,000 users.

The daily active users of Zerion experienced continuous growth before the market collapse on “May 19.” Particularly during the bullish market sentiment in April and May, the number of daily active users surged, reaching its peak in early May. However, there was a significant decline following the market downturn. Due to the low user stickiness and ease of transferring users to other platforms, Zerion currently attracts a limited number of new users daily with growth slowing down.

Image Source：https://dune.com/hildobby/zerion-on-ethereum

Among the protocols traded on Zerion, the platform with the highest trading volume is 0x, indicating that 0x provides the lowest trading prices and is the most frequently used trading route.

Conclusion

Zerion is a comprehensive DeFi asset information aggregation platform that offers a wide range of functionalities. In addition to the fundamental features of asset tracking, trading, and querying, it also introduces various supplementary functionalities to enhance the user experience. Recently, Zerion has also launched its mobile app, Zerion Wallet, which provides all the functionalities available on the web platform. Although the project has not yet issued its own token, there are market expectations for potential airdrops.

In the field of DeFi asset information aggregators, Zerion bears similarity to Zapper. Both platforms offer similar core functionalities, but Zapper differentiates itself by optimizing data through on-chain tracking and labeling. DeBank, on the other hand, has expanded its business horizontally by developing the Rabby wallet and introducing social products like Hi Stream, as well as its own Layer2 solution. The competition landscape in this field is still evolving, and with most platforms gradually achieving feature parity, the differentiation between projects may lie in the UI experience and finer details.

Zerion’s product has demonstrated significant market demand and has successfully built a user base since its launch. It has generated considerable market interest and has observed fluctuations in business data in response to market sentiments. During bullish market conditions, the platform experienced a surge in user numbers and trading volumes. However, when the market downturned, there was a substantial decrease in traffic due to the low cost of user migration, resulting in a tapering growth rate of new users. Going forward, the Zerion team’s intelligence and decision-making abilities will be tested as they work towards continuously improving user experience, data services, and technological innovation.