Ubeswap Exchange Trade Data

Ubeswap API Logo

Ubeswap API

Information
Network
Celo
Source type
DEX
Volume 24h
$ 18,761.162
Pairs available
836
Trades 24h
1,678
Exchange Information

What is Ubeswap?

Ubeswap 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. Ubeswap was founded in 2020 by Jonathan DeCarteret and is operated by Ubeswap Ltd. The name "Ubeswap" comes from the combination of "Ube" (which means yam in the Yoruba language) and "swap" (referring to token swapping on the platform).

What are the benefits of using Ubeswap?

Ubeswap is a decentralized exchange (DEX) built on the Ethereum blockchain. It offers several benefits that differentiate it from its direct competitors.

Firstly, one of Ubeswap's key advantages is its user-friendliness and intuitive interface. It provides a simple and straightforward trading experience, making it accessible to both beginner and experienced users. This ease of use sets it apart from its competitors, such as Uniswap and SushiSwap, which may have steeper learning curves.

Secondly, Ubeswap boasts lower transaction fees compared to some of its counterparts. This can be particularly appealing for traders and liquidity providers looking to minimize their costs. Additionally, Ubeswap has implemented a dynamic fee model that adjusts fees based on network congestion, ensuring that fees remain reasonable during peak times.

Another notable benefit of Ubeswap is its commitment to decentralization and community governance. Ubeswap allows users to participate in decision-making processes regarding protocol upgrades and fee adjustments through its native governance token. This gives users a voice and a stake in the development and future of the platform.

Furthermore, Ubeswap supports a wide range of cryptocurrencies and ERC-20 tokens, offering users ample opportunities for trading and liquidity provision. This variety of token options sets it apart from some competitors that have more limited token listings.

In summary, Ubeswap provides a user-friendly interface, lower transaction fees, community governance, and a wide selection of tokens for trading. These benefits position Ubeswap as a competitive decentralized exchange within the blockchain ecosystem.

How does Ubeswap work?

Ubeswap is a decentralized exchange (DEX) that operates on the Ethereum blockchain. As an automated market maker (AMM), it enables users to trade ERC-20 tokens directly from their wallets without the need for intermediaries.

Ubeswap leverages the technology of smart contracts to facilitate token swaps. The key concept behind its functioning is the constant product formula, known as the Automated Market Maker (AMM) model. This model ensures liquidity by maintaining balanced reserves of tokens in specific trading pairs.

Under the hood, Ubeswap relies on the Ethereum blockchain as its underlying infrastructure. Ethereum is a decentralized and open-source blockchain platform that enables the execution of smart contracts. These self-executing contracts contain the rules and conditions for transactions on Ubeswap.

When a user wants to make a trade on Ubeswap, they send their tokens to a smart contract. The contract then calculates the trade based on the available reserves in the liquidity pool. The transaction is executed, and the user receives their desired tokens in return.

Furthermore, Ubeswap incentivizes liquidity providers to contribute to the platform by offering them rewards in the form of fees generated from trades. This encourages users to deposit their tokens into the liquidity pools, ensuring a healthy and liquid marketplace.

By harnessing the power of Ethereum and implementing the AMM model, Ubeswap provides a decentralized and efficient way for users to trade tokens securely, transparently, and without relying on centralized intermediaries.

How does DIA fetch Ubeswap trade data?

DIA's process for fetching trade data from DeFi and NFT exchanges involves a comprehensive approach to data management. The goal is to ensure high precision and data accuracy when creating price feeds. The specific method used varies depending on the type of exchange.

For centralized exchanges like Coinbase, Kraken, and Binance, DIA employs scrapers that directly collect trades from the exchange databases. This is done using Rest APIs or WebSocket APIs. The frequency of data collection ranges from 1 to 7 seconds, depending on the exchange. By retrieving the data as close to the source as possible, DIA can maintain precision in the price feeds.

On the other hand, for decentralized exchanges, DIA collects data directly from the blockchain itself. It does this by subscribing to swap events in liquidity pools. Popular decentralized exchanges such as Uniswap, curve.finance, and PancakeSwap serve as sources for this data. By retrieving the trading data from the blockchain, DIA ensures enhanced accuracy in the price feeds.

When it comes to NFT marketplaces, DIA captures live trading data by integrating with the marketplaces' smart contracts. The retrieval period for this data ranges from 20 seconds to 1 minute, covering all NFT transactions happening in real-time. By focusing on the broader NFT market and not relying on unreliable bids and offer data, DIA can provide precise data for NFT price feeds. Notable NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.

This comprehensive data management strategy allows DIA to offer highly accurate and customizable price feeds across DeFi and NFT exchanges. By leveraging various collection methods depending on the exchange type, DIA ensures that users have reliable and up-to-date trade data.

How build oracles with Ubeswap data?

DIA uses a two-step process to build price feed oracles using Ubeswap trade data. The process differs depending on whether we are referring to a decentralized finance (DeFi) exchange or a non-fungible token (NFT) exchange.

For DeFi exchanges, the first step is data cleaning and outlier detection. This ensures that the price estimation is not influenced by trades with prices that deviate significantly from the market price. Outliers, such as those caused by market manipulation or errors, are removed from the data set. DIA applies an Interquartile Range (IR) filter to identify and exclude data points and sets that lie outside an acceptable range relative to the interquartile range. Only trades falling into the "middle" quartiles are used for further processing.

The second step is the application of price determination methodologies. DIA uses trade-based filters to calculate a single USD price value for each asset. For example, the Volume Weighted Average Price (VWAP) methodology considers the volumes of trades and calculates the weighted average price. Another example is the Moving Average with Interquartile Range Filter (MAIR), which creates blocks of trades for each second and calculates the weighted average price for each block. Multiple filters are provided to cater to different use cases.

On the other hand, for NFT exchanges, the process is different. DIA determines the floor price of an NFT collection by processing the on-chain trade data in two steps. First, the data goes through cleansing filters to exclude market outliers and manipulation techniques. Then, a pricing methodology is applied to determine the final price point.

The Floor Price methodology provides the lowest sale price of an NFT collection recorded on the blockchain. DIA also offers advanced methodologies, such as the Moving Average of Floor Price, which calculates the moving average of a collection's floor price. These methodologies are designed to produce more realistic and reliable NFT floor prices.

It is worth noting that manipulations, such as wash trading and floor sweeping, can impact the floor price. DIA's filtering mechanisms aim to detect and filter out such manipulative behavior to ensure market-representative prices.

DIA is continuously developing and open to discussing custom filters and methodologies to meet specific use cases.

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