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Why doesn’t Hedgehog track everything?
We agree with you that it should be easy in this day and age to track your holdings via public addresses and that it is in fact safe and logical. Unfortunately in practicality our goal of being able to track everything for our users and display it all in one place for you is more complicated than that.
We are a small dev team and therefore limited on how quickly we can implement and add new technology. In the rapidly growing crypto space this is a major issue. Thus we have built our platform to be able to easily plug in to other techs. The problem there is that these other techs need to be built to allow us to plug in so that the connection can correctly work.
We plug into block explorers for many coins that read balances directly from the blockchain so we use the ability to track funds by a user merely adding their public address. Sometimes though, these services change their API and we have to update our connection accordingly. This solution also is only simple for layer 1 tracking. Tracking any other coins, liquidity pools, lending services or yield farms through the smart contracts they were created on is a much more complicated task. (We have also found a partner who is doing this that we are trying to integrate with so we don't have to build out our own solution).
For balances stored with exchanges and wallets where you don't hold your private keys, it isn't as simple as entering your public address because these services hold your funds in an omnibus and give you a public address that is only used for depositing your money into their system. For these we need an API connection so we can access their internal ledger where they track which of their users "owns" what amount of what coins from their holdings. Not all of these products have APIs available and many that do require a business relationship to be developed before we can gain access to the API.
We are always working to make our tracking abilities more robust and if you tell us where your exact pain points are with our current system, we take user feedback seriously in determining our priorities.