A simple ledger for tracking positions you hold in DeFi protocols
It is easy to open a position in a protocol and forget the details a few weeks later: how much went in, what terms applied, which approvals you granted and when you meant to review it. Without a record, even checking whether you still have exposure becomes a hunt through wallet histories. A small ledger solves this. This guide describes what to write down, how to keep it current and how it connects to the history on exchanges such as Binance, OKX, Bybit and Bitget.
What each ledger line should contain
Record the date, the protocol, the network, the asset and amount deposited, the transaction ID and a one-line description of what the position does. Add the terms you read, such as lock-ups or withdrawal conditions, and a date to review. Do not copy figures such as rates, which change; write where you found them instead.
Track approvals
Many protocols ask you to approve a contract to spend your tokens. Note each approval, the contract name and the date. Periodically review approvals using a trusted approval-checker tool and revoke those you no longer need. Unused unlimited approvals are a common source of losses.
Record exits and link to exchange history
When you close a position, note the date, the amounts returned and the transaction ID. If funds then move back to an exchange, link that transfer to the exit line. This connects the wallet side with the exchange history you can export from the official account pages.
Review on a schedule
Once a month, go through the ledger. Ask whether each position still matches your intentions, whether terms have changed on the protocol's official pages and whether any approval should be revoked. Keep the ledger and your secrets in different places, and never record seed phrases in it.
Errores frecuentes
The usual mistakes are keeping no note of approvals, recording amounts but not transaction IDs, mixing test transfers with real ones and storing the ledger in the same folder as recovery material. Each is avoided by one extra line in your routine. A ledger that is slightly imperfect but current is far more valuable than a perfect one that you abandoned.
Risk boundary: DeFi Protocols Hub
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Scenario checkpoint
- Write date, protocol, network, asset, amount and transaction ID for each position
- Note the terms you read and a review date
- List token approvals and revoke those you no longer need
- Link every exit to the transfer back to your exchange
- Review the ledger monthly and keep secrets elsewhere