Whether you need to keep track of your crypto holdings in an organized way, or gather your data for legal purposes, several use cases prove that crypto snapshots may be a great idea.
Snapshotting and archiving a website has never been so useful. On the one hand, it helps you keep an orderly and accurate record of your (or your customers') crypto holdings at all times. On the other hand, screenshots could spare you from trouble because of their potential as evidence. One does not realize how important they may be until they are put to the right use.
Chances are that you have more than one wallet, and plenty of tokens to keep track of, both in terms of their price variation, as well as the trade data and amount stored in one's wallet.
Not only does a crypto snapshot serve for you and your company as a time-saving element to keep track of your portfolio, but also it can be extremely useful to share relevant information to business partners, investors' board, accountants, or even as strong evidence in case of litigation.
We're not going to lie to you. Alternatives do exist. Manually keeping track of your digital asset holdings is certainly possible, although it will definitely take a higher dose of time and may become a tedious task due to its mechanical and boring nature, prone to mistakes and forgetfulness.
Stillio provides a fully automated solution, so you can focus your efforts and inspiration on growing your business, while we attend your web tracking and archiving needs.
The question would actually be: what are you interested in capturing? Possibilities are wide-ranging. Blockchain technology provides an explorer that enables us to track on-chain activity 24/7. There we can find, publicly and transparently, all the balances linked to each public key, as well as the hash and timestamp of each transaction.
Tracking a balance by periodic explorer snapshots is one of the obvious cases to be deduced from this explanation. Periodically monitoring an address balance change and keeping an archive to identify the different account statuses over time is a natural use, that may be practical to your needs or helpful for your organization.
These explorers, while helpful, might be chaotic at times, either for their simple reading or for identifying changes in token balances and holdings.
An Ethereum network address can store an endless number of ERC-20 tokens. Keeping an archive of the change in holdings, as well as their price variations on the crypto market may become a major challenge unless you get the right resources to do so.
Tokens abound and it turns out to be complex to keep a specific and periodic follow-up. Snapshots, in addition to tracking addresses, can serve as backup for proof of existing interactions of an address with a smart contract, strengthening once again their evidentiary value.
Other blockchains pose similar challenges, such as Polygon, Binance Smart Chain, and more recently Solana and Terra. As their use grows, investment alternatives increase, as does the number of interactions that people and companies maintain within them, hence the need to keep a neat and orderly archive related to the activity.
When referring to the blockchain, it’s worth mentioning that transactions take place between pseudonymous addresses. Screenshots may be also convenient, as they serve as identifiers to link and assure ownership by an individual or company of funds that are transacted from one direction or another.
Do you or your company conduct decentralized finance operations? You should know that environments and opportunities may be highly dynamic.
One protocol may offer attractive returns today, but tomorrow it may be far outperformed by another. In a context where liquidity shifts quickly, and variable rates prevail, keeping track of variations in yields becomes vital, regardless of whether they stem from staking, yield farming, or liquidity pools, for example.
Snapshots crypto allow us to visualize trends and have greater insights in order to keep an archive and develop a correct assessment for decision making.
We can go further than the blockchain explorer in this case, and get screenshots of specialized data, focused on gathering relevant information related to yields, total value locked (TVL) in one or another protocol, and other interesting variables to track to get a broad overview of trends in the DeFi world and take better advantage of opportunities. DeFi Pulse and DeFi Llama stand out as two popular alternatives for searching for and tracking this type of information.
Undoubtedly, 2021 was the year of the NFT boom. Non-fungible token exchange and auction platforms broke all records and captured worldwide attention. OpenSea positioned itself as the leading platform in this industry segment. A new paradigm around art as well as a new way of conceiving property rights and transactions in a society came along with this breakthrough.
Snapshots also play a huge role. Holdings’ registry becomes relevant, while the possibility of tracking and monitoring the prices of sales and auctions, a process that otherwise would take a significant amount of time and effort, also acquires importance. Stillio provides you with screenshots as often as you wish, so that you can compare, analyze, and visualize price changes and availabilities on the different exchange platforms.
Countless times a company needs to make presentations. They may involve a report to the board of investors, relevant information worth sharing with accountants and auditors, and even legal filings. A proper screenshot can be used as valid evidence in court, which gives an incentive to record one's on-chain activity and back up one's movements in case it turns necessary to justify different courses of action.
Screenshots are visual evidence of something that has happened digitally. Evidence based on captures is growing fast. Starting to preserve historical data with these screenshots is the best thing to do (even though it may seem unimportant at the time!).
Now that Stillio takes care of it, you can focus your time and inspiration on growing your business and keep on bringing new innovations.