SushiSwap-fantom is a decentralized cryptocurrency exchange platform built on the Fantom blockchain. It was created as a fork of the popular decentralized exchange platform, SushiSwap, but operates on the Fantom network. SushiSwap-fantom allows users to swap and trade various cryptocurrencies in a decentralized and secure manner. It was founded in 2020 by the anonymous developer known as "Chef Nomi."
SushiSwap-fantom offers several benefits compared to its direct competitors.
1. Lower fees: One of the key advantages of SushiSwap-fantom is its lower transaction fees. This is particularly beneficial for users who engage in frequent trading or yield farming activities. Compared to other decentralized exchanges (DEXs) such as Uniswap or PancakeSwap, SushiSwap-fantom offers more cost-effective transactions.
2. Faster transactions: SushiSwap-fantom operates on the Fantom blockchain, which is known for its high throughput and low latency. This results in faster transaction confirmation times compared to other popular DEXs. Users can benefit from the efficiency and speed of the Fantom network when using SushiSwap-fantom.
3. Diverse liquidity pools: SushiSwap-fantom provides access to a wide range of liquidity pools, allowing users to trade or provide liquidity for different tokens. This diversity increases the options available to traders and liquidity providers, enhancing their ability to participate in various markets.
4. Community-driven governance: SushiSwap-fantom follows a decentralized governance model, giving users the ability to participate in decision-making processes. Through voting on proposals, users can have a say in the direction and development of the platform, fostering a sense of community ownership.
5. Enhanced yield opportunities: SushiSwap-fantom offers various yield farming strategies and incentives to encourage users to provide liquidity to specific pools. These incentives can include token rewards, boosting users' potential earnings through their participation in yield farming activities.
While other decentralized exchanges like Uniswap and PancakeSwap also have their own strengths and user bases, SushiSwap-fantom stands out with its lower fees, faster transactions, diverse liquidity pools, community-driven governance, and enhanced yield opportunities. Users looking for a cost-effective and efficient DEX experience on the Fantom blockchain may find SushiSwap-fantom to be a compelling option.
SushiSwap-fantom is a decentralized exchange (DEX) that operates on the Fantom blockchain. As a DEX, SushiSwap-fantom enables users to trade cryptocurrencies directly with each other, without the need for intermediaries.
To understand how SushiSwap-fantom works, we need to delve into its underlying technology. Fantom is a fast and scalable blockchain platform, built to support decentralized applications (dApps) and smart contracts. It utilizes a consensus mechanism called Proof of Stake (PoS), where validators are chosen based on the number of tokens they hold and are willing to "stake" as collateral.
SushiSwap-fantom leverages smart contracts on the Fantom blockchain to facilitate the trading of tokens. Users can deposit their tokens into SushiSwap-fantom's liquidity pools, which are decentralized reserves of tokens that enable trading. By contributing tokens to these liquidity pools, users earn liquidity provider (LP) tokens, which represent their share of the pool.
When a user wants to trade on SushiSwap-fantom, the platform utilizes an automated market maker (AMM) model. It means that trades are executed against the liquidity pools, rather than relying on order books. This AMM model ensures that trades can be executed quickly and efficiently, even during periods of high demand.
SushiSwap-fantom also incorporates yield farming and token staking mechanisms, allowing users to earn additional rewards by participating in the platform. These mechanisms incentivize users to provide liquidity to the pools and contribute to the overall ecosystem.
Overall, SushiSwap-fantom brings together the Fantom blockchain's scalability and decentralized exchange capabilities, providing users with a fast, efficient, and secure platform for trading cryptocurrencies.
DIA employs a comprehensive approach to fetch trade data from different types of exchanges, including both DeFi and NFT exchanges. The process varies depending on the type of exchange involved.
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 of data collection varies, typically ranging from 1 to 7 seconds, depending on the exchange. By retrieving data as close to the source as possible, DIA ensures high precision and real-time availability.
On the other hand, for decentralized exchanges, DIA obtains data by subscribing to swap events in liquidity pools. This approach allows DIA to retrieve trading data directly from the blockchain itself, ensuring enhanced accuracy. Notable decentralized exchange sources include Uniswap, curve.finance, and PancakeSwap.
When it comes to NFT marketplaces, DIA captures live trading data by periodically retrieving information from integrated marketplaces' smart contracts. The retrieval period typically ranges from 20 seconds to 1 minute, ensuring coverage of all NFT transactions happening in real-time. Notable NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.
By employing these various methodologies, DIA ensures the collection of granular and accurate trade data from over 80 exchanges, allowing for the creation of highly precise and customizable price feeds. This comprehensive data management strategy enables DIA to provide reliable and up-to-date information to support smart contracts and blockchain applications.
DIA follows a specific process to compute trade data from SushiSwap-fantom and build price feed oracles for both DeFi and NFT exchanges.
For DeFi exchanges like SushiSwap, DIA's first step is data cleaning and outlier detection. This ensures that the price estimation process is resilient against trades that deviate from the current market price. Outliers can result from market manipulation, errors, or flash crashes. DIA applies an Interquartile Range (IR) filter to exclude data points and sets that fall outside an acceptable range relative to the interquartile range. Only trades within the "middle" quartiles are used for further processing.
Once the data is cleaned, DIA applies 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 weighted by their volume, and the weighted average price is determined.
For NFT exchanges, such as determining the floor price of an NFT collection, DIA uses a different process. First, the on-chain trade data is processed through cleansing filters to exclude outliers and manipulation techniques. Then, a pricing methodology is applied to determine the final price point.
One common methodology for NFT collections is the Floor Price, which provides the lowest sale price recorded on the blockchain within a given time window. However, DIA acknowledges the potential for manipulation and offers more advanced methodologies, such as the Moving Average of Floor Price. This methodology calculates the moving average of a collection's floor price, taking into account customizable parameters like the length of the average and the size of the floor window. An interquartile range outlier detection filter is also applied to filter out malicious behavior.
DIA also mentions that they are open to discussing custom filters and methodologies to cater to specific use cases.
Overall, DIA's process involves data cleaning, outlier detection, and applying different price determination methodologies depending on the type of exchange (DeFi or NFT) to compute trade data and build price feed oracles.
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.