Netswap Exchange Trade Data

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Netswap API

Information
Network
Metis
Source type
DEX
Volume 24h
$ 103,419.213
Pairs available
969
Trades 24h
475
Exchange Information

What is Netswap?

Netswap is a decentralized exchange built on the Ethereum blockchain. It allows users to trade ERC-20 tokens directly from their wallets without the need for intermediaries. Netswap aims to provide users with a secure and transparent trading platform. It was founded by an anonymous team and launched in [Year]. The name Netswap originates from the combination of "network" and "swap," reflecting its purpose of facilitating token swaps on the network.

What are the benefits of using Netswap?

Netswap offers several benefits that set it apart from its direct competitors in the blockchain industry. One of the key advantages is its efficient and transparent swapping mechanism. Users can seamlessly exchange tokens while maintaining full control over their assets. This decentralized approach ensures that transactions are secure and free from the risk of manipulation.

Another benefit of Netswap is its low fees. Compared to its competitors, Netswap provides cost-effective swapping services, allowing users to save on transaction costs. This affordability factor makes it an attractive option for users who frequently engage in token swaps.

In addition, Netswap focuses on providing a user-friendly interface. The platform is designed with simplicity in mind, making it easy for both new and experienced users to navigate and execute transactions. The user-friendly nature of Netswap enhances accessibility and encourages wider adoption.

Furthermore, Netswap prioritizes liquidity. The platform ensures that there is always ample liquidity available for users to carry out their swaps efficiently. This reduces the risks of slippage and provides a smoother trading experience.

Lastly, Netswap is built on a robust and secure blockchain infrastructure. The platform leverages cutting-edge technology to ensure that users' funds and transactions remain safe and protected from potential cyber threats.

While there are other competitors in the market, Netswap's combination of efficient swapping, low fees, user-friendly interface, liquidity focus, and secure infrastructure make it a strong contender in the blockchain industry.

How does Netswap work?

Netswap is a decentralized exchange (DEX) built on the Ethereum blockchain. It utilizes automated market-making (AMM) algorithms to enable users to trade cryptocurrencies in a trustless and permissionless manner.

The underlying technology behind Netswap is a smart contract protocol. Smart contracts are self-executing contracts with the terms of the agreement directly written into code. In the case of Netswap, the smart contract handles the swapping of tokens between users.

To use Netswap, users interact with the smart contract through a user-friendly interface. They can connect their Ethereum wallet to the DEX and select the tokens they want to trade. Netswap uses liquidity pools, which are pools of funds provided by liquidity providers, to facilitate these trades.

When a user wants to trade, they choose the token they want to sell and the token they want to buy. The smart contract calculates the exchange rate based on the available liquidity in the pool and executes the trade. The transaction is then recorded on the Ethereum blockchain, ensuring transparency and immutability.

Netswap uses the Ethereum blockchain as its underlying infrastructure. Ethereum is a decentralized platform that enables the execution of smart contracts. By leveraging the security and robustness of the Ethereum network, Netswap provides a reliable and efficient platform for token swaps.

Overall, Netswap offers users a decentralized and secure way to trade cryptocurrencies, utilizing smart contracts and the Ethereum blockchain to facilitate seamless transactions.

How does DIA fetch Netswap trade data?

DIA takes a comprehensive approach to fetching trade data from DeFi and NFT exchanges. The process differs depending on the type of exchange we are referring to.

For centralized exchanges like Coinbase, Kraken, and Binance, DIA utilizes scrapers that directly collect trades from the exchange's databases. This is done using Rest APIs or WebSocket APIs. The frequency of data collection varies from 1 to 7 seconds, depending on the exchange. By retrieving the data as close to the source as possible, DIA ensures high precision.

In the case of decentralized exchanges, DIA collects data from various blockchains by subscribing to swap events in liquidity pools. This approach allows DIA to retrieve trading data directly from the blockchain itself, which enhances data accuracy. Examples of decentralized exchange sources include Uniswap, curve.finance, and PancakeSwap.

For NFT marketplaces, DIA captures live trading data by continuously retrieving information from the integrated marketplaces' smart contracts. This retrieval period ranges from 20 seconds to 1 minute, ensuring real-time coverage of all NFT transactions. DIA does not rely on unreliable bids and offer data, ensuring precision in the broader NFT market. Notable NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.

DIA's comprehensive data management strategy, which involves leveraging WebSockets, decentralized node providers, and direct blockchain data retrieval, enables them to provide highly accurate and customizable price feeds for cryptocurrencies, DeFi, and NFTs.

How build oracles with Netswap data?

DIA utilizes a systematic process to compute trade data from Netswap and build price feed oracles. The process varies depending on the type of exchange we are referring to, whether it is a DeFi exchange or an NFT collection.

For DeFi exchanges, DIA follows a two-step approach. The first step involves data cleaning and outlier detection. This ensures that trades with prices significantly different from the current market price are excluded from the feed. Outliers can be caused by market manipulation, errors, or flash crashes. DIA applies an Interquartile Range (IR) filter to identify and remove outliers, focusing on the trades falling within the "middle" quartiles and discarding those in the first and last quartiles.

The second step is the application of price determination methodologies. DIA uses various filters to calculate a single USD price value for each asset on each exchange individually, as well as for all exchanges combined. One example of a methodology is Volume Weighted Average Price (VWAP), which considers the different volumes of trades. Another example is Moving Average with Interquartile Range Filter (MAIR), where trades are ordered by timestamp and weighted against the volume to determine the final price.

For NFT collections, the process is different. DIA determines the floor price of an NFT collection by processing the on-chain trade data in two steps. Firstly, the data goes through cleansing filters to exclude market outliers and manipulation techniques. Secondly, a pricing methodology is applied to determine the final price point.

One of the methodologies offered by DIA for NFT collections is the Floor Price, which provides the lowest sale price recorded on the blockchain during a specific time window. However, this methodology can be susceptible to manipulation. To address this, DIA also offers the Moving Average of Floor Price, which calculates the moving average of a collection's floor price. This methodology can be customized with parameters such as the length of the average or the size of the floor window.

In summary, DIA's process involves data cleaning, outlier detection, and the application of specific price determination methodologies to compute trade data from Netswap and build price feed oracles for both DeFi exchanges and NFT collections.

How does DIA source price oracle data?

Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.

Granular trade data collection
DIA retrieves token and NFT tradign data from 100+ exchanges. This enables DIA to build the most precise and customizable price feed oracles.
Instant, direct sourcing
DIA utilizes RPCs and WebSockets to subscribe to swap events and gather trading data from both DEX liquidity pools and CEX databases, allowing for real-time data collection.
Learn more about data sourcing