Tracking your investments is extremely important and it is something I started doing since the beginning. I've already lost crucial pieces of data because I jumped into DeFi head first, FOMO got the best of me and I got sloppy. I already have a neat googles docs sheet with a lot of data from my weekly earnings journey but the DeFi page is a mess and there's no way to fix the past mistakes.

There's no point in dwelling on my previous mistakes so I decided to start doing things properly a couple of weeks ago and I'm very satisfied with the results. There are a lot of different ways to track and this one is what works for me because I like to track my progress weekly. If you are only interested in putting your money on an LP or staking it and leave it there for a long period of time then this might be a waste of time for you.
In that case, just register the amount you put in (In dollars) and the amount you took out when you sold your LP tokens.

There are a couple of subscription-based platforms that can do this for you but I don't see the point of wasting money on something that you can easily do yourself using free services. I like google drive the best because I've added a Coingecko script to the spreadsheet that automatically updates the price of several different cryptos when I open my file.

Register everything

I've invested $100 USDC into polygon recently and I will be using that investment as an example to make things easier. I found a YOLO farm on Beefy finance that I wanted to jump into so I exchanged $25 USDC for each of the tokens of the liquidity pool (FISH and MATIC) making it a total of $50 invested. Now go to your document and make a table with the initial investment on each pool, I'm only using one on Beefy so I just described it as Polygon Beefy. I've invested another $48 into a Matic vault on Aave and left the rest in my wallet to pay for transaction fees.

Update every 7 days

As mentioned I like to track it weekly so every Monday morning I go to each of the pools that I'm invested in and update the spreadsheet.

• I start by inputting the number of tokens I have on the first line of that specific day.
• On the second line, I update the current price of each pool. The new amount of tokens multiplied by the price of said token on Monday morning (Most farms do this for you). For example, I go on Beefy and I can see that my FISH-MATIC LP is now worth $60.21 so if I was updating the spreadsheet that would go on the second line. Yesterday morning it was at $51, what a roller coaster...

• If you're using a script that auto-updates prices DO NOT USE that cell on that formula! Put in the value manually!

PS: CUB-BUSD is the only farm that doesn't show the current value of your liquidity tokens but you can go on Leo Finance discord to find that out. Just type "!CUB" on the bot channel and it will respond with the value in $.

The final result

The page I showed you before is where I dump all the data. After that, I have a very well-organized page that grabs the total from the new week and subtracts the value from the previous week. In my yesterday's post, you can see that I made a DeFi loss of: $781,74 - $844,86 = -$63,12.

If you invest any more money into DeFi you should go into the final formula and add that value. Let's imagine I invested 1 BNB ($312.80) Today. The final formula would be:

Week2 - Week1 - $312.80

To offset the added value from your new investment that will be incorporated in the value of "week2".

Final thoughts

Don't forget to register as much data as you can. I'm very disappointed about not having all the data related to how much I invested into CUB and Autofarm. I will try to backtrack all the information using the Binance Smart Chain scan but it's going to be a nightmare to figure everything out especially since I've jumped around platforms and farms very often when I first started.
Once again don't be like me... Pick some decent farms or kingdoms and just let your investments grow instead of spreading your investments all over the place.

Posted Using LeoFinance ^Beta