Nansen acquires DeFi Portfolio tracker ape board for more than $10M

On-chain data platform Nansen said it bought decentralized finance (DeFi) portfolio tracker Ape Board for an “eight-figure” sum.

Ape Board has over 375 protocols listed across 33 blockchains including Ethereum, Binance Smart Chains, Avalanche and Solana.

The terms of this deal were not disclosed. CoinDesk was told by a spokesperson for Nansen that the amount paid was in “eight figures”, which could mean it is higher than $10 million.

Nansen will now be able to provide a wider view of DeFi’s investment landscape, which has exploded in the last year. Although total value locked (TVL), in DeFi protocols, has fallen by 40% to $113 billion, it is still six times greater than at the beginning of 2021. tracking service DeFiLlama.

Ape Board’s multichain coverage, according to the two companies, will give traders a comprehensive view of the market without requiring them to use multiple platforms for tracking their holdings or analyzing the market.

According to CoinDesk, Nansen will combine Ape Board’s portfolio track and its analytics to create an “all in one super app”.

Mike Phulsuksombati is Ape Board’s founder and said that the acquisition would “supercharge” both products. He stated that the acquisition will “supercharge” both products and not just one.

Get latest news from African Startup ecosystem

Latest stories

You might also like...