Leilani Ledingham
Product

Covalent Streamlines Wallet Development with New User-Friendly Features

TLDR;

Covalent has launched an array of new wallet-focused features designed to streamline wallet development and enhance the user experience, including:

  1. Approvals Endpoint: Receive a list of ERC20 approvals by a wallet, including the authorized amount and value-at-risk.

  2. NFT Spam: Check if an NFT has been flagged as part of a spam collection.

  3. Transactions Summary: Get the date of the earliest, latest and total transactions by a wallet.

  4. Earliest Transaction: Get all the decoded details of the very first transaction by a wallet on a chain.

  5. Pretty Quotes: E.g. $123.45. No need to figure out conversions and format raw values into fiat.

New Features

In our pursuit to make wallet development easier and more user-friendly, we're thrilled to introduce several new features that take the legwork out of building high-performing, feature-rich wallet applications.

Our team at Covalent has been hard at work understanding the challenges developers face in the dynamic world of blockchains and incorporating valuable feedback from the community. These resulting new features aim to address unique pain points encountered by developers, mitigating complexities and reducing the need for custom code.

Let’s get into them!

Note - Each sample JSON does not contain the full API response

Approvals Endpoint

Endpoint: GET /v1/{chainName}/approvals/{walletAddress}/

Recently released, the approvals endpoint is a key security feature for wallets. It allows developers to track a wallet’s approvals categorized by spenders, enhancing security and reducing the complexity involved in managing user assets across various blockchains. Notably, the response shows the value of assets at risk (if the spender were to be hacked) and risk factors such as “consider revoking”.

Sample response:

{
    "block_signed_at": "2022-09-27T15:27:47Z",
    "tx_hash": "0xba6c16c0acb9dc3b35f39448dceb97756de2be23dc8130396486379409a84f77",
    "spender_address": "0x881d40237659c251811cec9c364ef91dc08d300c",
    "spender_address_label": "Metamask: Swap Router",
    "allowance": "UNLIMITED",
    "allowance_quote": null,
    "pretty_allowance_quote": null,
    "value_at_risk": "647245836",
    "value_at_risk_quote": 647.245836,
    "pretty_value_at_risk_quote": "$647.25",
    "risk_factor": "CONSIDER REVOKING"
}

Read more about this feature here.

NFT Spam

Endpoints: NFTs and Token Balances

To help developers navigate the bustling NFT market, we’ve released an NFT is_spam field which returns true if an NFT has been flagged as part of a spam collection. This makes it easier to identify security risks and filter out spam, simplifying NFT management within wallet applications.

Sample response:

"contract_name": "Braindom",
"contract_ticker_symbol": "BRAINDOM",
"contract_address": "0xdc6d90860c47bc596188511380e47825ca4df205",
"supports_erc":               [ ... 2 items ],
"is_spam": true,
"balance": "1",
"balance_24h": "1",
"type": "nft",

This field is currently supported on Ethereum and Polygon and will soon be expanded to more chains.

See more details here.

Transactions Summary

Endpoint: GET /v1/{chainName}/address/{walletAddress}/transactions_summary/

Getting a high-level overview of your users' transactions is often impossible without sifting through pages of transaction data. To get context on a wallet address, most people go to a block explorer like Etherscan where they can see the earliest, latest, and total number of transactions for an address.

Our new transactions summary endpoint solves for this exact use case, summarizing the transactions for an address and making it easy to understand and display user activity.

Sample response:

{   
    "total_count": 72904,    
    "latest_transaction": {        
        "block_signed_at": "2023-05-11T16:36:59Z",        
        "tx_hash": "0xe1041e11d966d5b04c41fa1f5f4abc42fb5c47d782b1cc1641e13dc8e79988cc",  
        "tx_detail_link": "https://api.covalenthq.com/v1/eth-mainnet/transaction_v2/0xe1041e11d966d5b04c41fa1f5f4abc42fb5c47d782b1cc1641e13dc8e79988cc/"    
    },    
    "earliest_transaction": {        
        "block_signed_at": "2021-05-21T00:15:53Z",
        "tx_hash": "0xbe7b222fde8276938e61d4504f0bb61477bf4ef92d19aa8fce8d58d4e26d7e4a",
        "tx_detail_link": "https://api.covalenthq.com/v1/eth-mainnet/transaction_v2/0xbe7b222fde8276938e61d4504f0bb61477bf4ef92d19aa8fce8d58d4e26d7e4a/"
    }
}

Earliest Transaction

Endpoint: GET /v1/{chainName}/bulk/transactions/{walletAddress}/

With our bulk transactions endpoint, developers had to set a time bucket to 0 to find the earliest transaction. Now with our earliest transaction endpoint, developers can swiftly locate and navigate to the earliest transaction for an address and then user the next URL to continue bulk fetching the transaction history.

Sample response:

"links": {
	"prev": null,
	"next": "<https://api.covalenthq.com/v1/eth-mainnet/bulk/transactions/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2/1681420/>"
},
"items": [
	{
		"block_signed_at": "2017-12-14T18:43:16Z",
		"block_height": 4732618,
		"tx_hash": "0x29d9fbc6368b0fc1d378cff1d30a6d6fca9be239f00a515a7bd6001a4ef84d5b",
		"tx_offset": 51,
		"successful": true,
		"from_address": "0xdb33dfd3d61308c33c63209845dad3e6bfb2c674",
		"from_address_label": null,
		"to_address": "0x91dfe531ff8ba876a505c8f1c98bafede6c7effc",
		"to_address_label": null,
		"value": "0",
		"value_quote": 0,
		"pretty_value_quote": "$0.00",
		"gas_offered": 4000000,
		"gas_spent": 52137,
		"gas_price": 25000000000,
		"fees_paid": "1303425000000000",
		"gas_quote": 0.9034000353649076,
		"pretty_gas_quote": "$0.90",
		"gas_quote_rate": 693.0970599496769

Pretty Quotes

No more puzzling over transaction values! We’ve had a “quote” field in our transactions endpoint responses for quite some time, but we just released a new improvement - pretty quotes. The pretty quotes feature converts raw blockchain data into user-friendly fiat amounts, enabling developers to understand the data and integrate it directly into their applications.

While the default currency is USD, developers can change this with the query parameter quote-currency!

Sample response:

{
    "type": "stablecoin",
    "balance": "358014500",
    "balance_24h": "358014500",
    "quote_rate": 1,
    "quote_rate_24h": 1,
    "quote": 358.0145,
    "pretty_quote": "$358.01",
    "quote_24h": 358.0145,
    "pretty_quote_24h": "$358.01"
}

See more details here.

The Full Suite of Wallet Endpoints

Navigating blockchain development can be a daunting task, especially when it comes to building comprehensive and user-friendly wallet applications. Recognizing this, Covalent has designed a suite of wallet endpoints that are expertly categorized to cater to every aspect of a wallet interface. This deliberate segmentation allows us to deliver bespoke services, meeting the diverse needs of developers and ensuring a seamless, efficient experience. Here's how we break it down:

  • Balances: Keeping track of token balances across multiple chains is a critical part of wallet functionality. Covalent's balances endpoint allows developers to easily query native, ERC20, and NFT token balances across 100+ supported chains. Also in this category, we offer historical portfolio value, token holders, and ERC20 transfer endpoints.

  • NFTs: With the burgeoning interest in digital art and collectibles, Covalent's NFT endpoints help developers easily integrate NFT features into wallet applications. These include detailed metadata, cached images, traits, and ownership endpoints for NFT verification.

  • Transactions: Every transaction forms an essential part of a user's wallet activity. Our suite of transactions endpoints provide detailed historical transaction data by address. From high-level address summaries to recent transactions to detailed, bulk transactions, we cover the entire spectrum of interactions for any wallet.

  • Security: Ensuring the security of digital assets within a wallet is paramount. The approvals endpoint enables developers to identify potential threats such as unlimited approvals, offering users better control over their assets.

  • Base: The base endpoints cover essential functionalities such as retrieving block data, log events, and more. These core services are foundational for wallet applications.

  • DeFi Endpoints: Covalent's DeFi endpoints are tailored to help developers integrate users’ DeFi-related activity into the wallet.

    • Constant Product AMMs: For constant product AMMs like Uniswap and its clones, we offer the XY=K suite of endpoints that provide a standardized request and response format to get balances, transactions, liquidity pool information, and more on 40+ supported DEXs.

    • Lending and Others: For lending protocols like Aave and other DeFi protocols that have their own complexities such as Curve and Balancer (and more), we offer our Class C endpoints which return wallet activity and market data for 10+ protocols.

This suite of wallet endpoints provides a comprehensive solution for developers, bridging the gap between the complexities of blockchain technology and the creation of intuitive, user-friendly wallet applications.

Available to All

Covalent's philosophy is to bridge the gap between Web2 and Web3 so that decentralization should not be a barrier but a bridge, connecting diverse ideas and individuals. By offering a REST interface on top of blockchains, we're demystifying the intricacies of Web3, making it more accessible to developers from all backgrounds. Our endpoints are perfect for wallet developers looking to improve their users’ experience; and, of course, there are many more possible use cases with the data.

Check out our wallet building series and others for step-by-step guides on integrating our API!

What’s Next

Stay tuned for more exciting features! We're currently working on enhanced, human-readable DeFi Transactions that will allow you to see labeled actions such as “add liquidity” on any supported exchange.

Whether you're a seasoned developer or just getting started in the Web3 space, Covalent is here to support you on your journey, making Web3 development easier, more user-friendly, and more efficient. If you haven’t got an API key yet, sign up for one here!


About Covalent:

Covalent provides the industry-leading Unified API bringing visibility to billions of Web3 data points. Developers and analysts use Covalent to build exciting multi-chain applications like crypto wallets, NFT galleries, and investor dashboard tools utilizing data from 225 + blockchains. Covalent is trusted by a community of 40,000+ developers and powers data for 5,000+ applications, including 0x, Zerion, Rainbow Wallet, Rotki, Bitski, and many others.