Spiritswap is a decentralized exchange (DEX) built on the Fantom blockchain. It aims to provide users with fast and low-cost trading of digital assets. Launched in 2021, Spiritswap was founded by a team of developers and crypto enthusiasts. The platform's name is derived from the concept of enthusiastic "spirits" creating a vibrant and dynamic trading environment.
Spiritswap offers several benefits compared to its direct competitors in the decentralized exchange (DEX) space.
One of the main advantages of using Spiritswap is its compatibility with the Ethereum Virtual Machine (EVM) and the Binance Smart Chain (BSC). This means users can access Spiritswap on both networks, providing them with more options and liquidity.
Additionally, Spiritswap boasts competitive transaction fees. Compared to its direct competitors like Uniswap and PancakeSwap, Spiritswap often offers lower fees, enabling users to save on transaction costs.
Another benefit is its advanced features and user-friendly interface. Spiritswap provides an intuitive user experience, making it easy for both beginner and experienced traders to navigate the platform. The DEX also offers features like yield farming, staking, and a decentralized governance system, allowing users to participate in the platform's decision-making processes.
Furthermore, Spiritswap collaborates with various blockchain projects, ensuring a wide range of tokens are available for trading. This integration with multiple projects enhances the liquidity and trading opportunities for users.
In summary, Spiritswap stands out from its direct competitors by offering compatibility with both the Ethereum and Binance Smart Chain networks, competitive transaction fees, advanced features, and a user-friendly interface. These benefits make Spiritswap an attractive option for traders looking for a reliable and efficient decentralized exchange experience.
Spiritswap is a decentralized exchange (DEX) that operates on the Ethereum blockchain. Built on the Automated Market Maker (AMM) model, Spiritswap allows users to trade cryptocurrencies directly from their digital wallets without the need for intermediaries or a centralized authority.
The underlying technology behind Spiritswap is based on smart contracts. Smart contracts are self-executing agreements that automatically facilitate, verify, and enforce the terms of a transaction. In the case of Spiritswap, these smart contracts serve as the backbone of the decentralized exchange, enabling users to execute trades in a secure and transparent manner.
Spiritswap utilizes liquidity pools to facilitate trading. Liquidity providers (LPs) deposit their tokens into these pools, which are then used to provide liquidity for trading pairs. Users can trade between different tokens by interacting with these liquidity pools.
When a user wants to make a trade on Spiritswap, the smart contracts calculate the exchange rate based on the available liquidity in the pool. This algorithm ensures that the prices are determined by supply and demand, resulting in a fair and efficient trading experience.
To incentivize liquidity providers, Spiritswap rewards them with fees generated from trades made on the platform. This encourages users to contribute to the liquidity pools, maintaining a healthy ecosystem for trading.
Overall, Spiritswap offers a decentralized and efficient way for users to trade cryptocurrencies. Its use of smart contracts and liquidity pools on the Ethereum blockchain ensures transparency, security, and accessibility for all participants.
DIA takes a comprehensive approach to sourcing data for creating price feeds from various DeFi and NFT exchanges. The process differs depending on the type of exchange being referred to.
For centralized exchanges like Coinbase, Kraken, and Binance, DIA utilizes scrapers that directly collect trades from the exchange databases. This is done using Rest APIs or WebSocket APIs. The frequency at which data is collected varies from 1 to 7 seconds, depending on the exchange. By collecting data as close to the source as possible, DIA ensures high precision.
In the case of decentralized exchanges, DIA retrieves data from various blockchains by subscribing to swap events in liquidity pools. This allows DIA to gather trading data directly from the blockchain itself, enhancing data accuracy. Examples of decentralized exchange sources include Uniswap, curve.finance, and PancakeSwap.
When it comes to NFT marketplaces, DIA captures live trading data by continuously monitoring the integrated marketplace's smart contracts. The retrieval period for NFT transactions ranges from 20 seconds to 1 minute. By focusing on real-time transactions happening on these integrated marketplaces, DIA ensures data precision. Notable NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.
Overall, DIA's comprehensive data management strategy, which includes scraping trade data from centralized exchanges, subscribing to swap events on decentralized exchanges, and monitoring NFT marketplaces, enables them to provide highly accurate and customizable price feeds for blockchain applications.
When building price oracles with Spiritswap trade data, DIA follows a specific process that varies depending on the type of exchange we are referring to: DeFi or NFT.
For DeFi exchanges, DIA begins by cleaning and detecting outliers in the trade data. This step ensures that trades with prices deviating significantly from the current market price are excluded. Outliers can be caused by market manipulation, errors, or flash crashes. DIA applies an Interquartile Range (IR) filter to identify and remove outliers. This filter analyzes all trades within a predefined time range and removes trades falling into the first or last quartile, only considering trades in the "middle" quartiles for further processing.
Once the data is cleaned, DIA uses trade-based price determination methodologies to calculate the final price. One example is the Volume Weighted Average Price (VWAP), which considers the different volumes of trades. Trades are collected and weighted by their volume, and the weighted average price is calculated.
For NFT collections, the process is different. DIA determines the floor price by processing on-chain trade data in two steps. First, the data goes through cleansing filters to exclude outliers and manipulation techniques. Then, a pricing methodology is applied to determine the final price point.
The simplest methodology is the Floor Price, which provides the lowest sale price recorded on the blockchain within a given time window. However, this methodology is susceptible to manipulation. DIA offers more advanced methodologies, such as the Moving Average of Floor Price, which returns the moving average of a collection's floor price. Additional customizable parameters, like the length of the average or the size of the floor window, can be adjusted to specific use cases.
To maintain data integrity, DIA applies interquartile range outlier detection filters and is open to discussing custom filters and methodologies for specific use cases.
Overall, DIA's process involves data cleaning, outlier detection, and applying price determination methodologies to compute trade data and build price feed oracles from Spiritswap data, tailored to the specific needs of DeFi or NFT exchanges.
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.