Gitcoin Defi and Cross-chain Interoperability Hackathon Winner Sabelo from DashDeX shows his project on Covalent's One Billion BUIDLs, episode 5. Projects are powered by Covalent's industry leading Unified API.
DEX Dashboard Template
This code template is a showcase of the XY=K suite of Covalent API endpoints powering a multi-chain DEX dashboard. The code is open source and forkable for you to customize it as you like!
"It's amazing to see how hackers are able to build so many exciting projects with the same powerful Covalent API."
"The Covalent API supports multiple chains and delivers a range of data in a customizable manner. It also makes the dapp development process more enjoyable and precise."
"Integrating the Covalent API was seamless and very easy. The Covalent API made it very easy for us to pull out transactional and NFT data into our app. The API is very well documented which made the integration really fast and simple."
"The Covalent API is the easiest way to analyze various transactions and contract logs over the two or more blockchains."
"Very good API with a lot of chains supported!"
VP of Partnerships at ETHGlobal
VP of Partnerships at ETHGlobal, Jacob Willemsma
Developer of Deefy
Developer of Deefy, Rahul Bansal
Builder of GeoNFT
Builder of GeoNFT, Ayush Jain
Developer of Akashic Recorder
Developer of Akashic Recorder, Nagato Kasaki
Core Dev of NiftyGuilds
Core Dev of NiftyGuilds, Harpalsinh Jadeja
What is a DEX?
A Decentralized Exchange (DEX) is a platform where users can participate in a peer-to-peer marketplace, swapping tokens, providing liquidity and more. DEXs are automated market makers (AMMs) which means the trading activity that takes place is automated rather than traditional markets with buyers, sellers, and middlemen.
What is DeFi?
Decentralized Finance (DeFi) is a financial system that operates through the use of blockchains which enables it to be open and permission-less. In centralized finance, money is held by third parties such as banks or other companies that charge users a fee for their services. In DeFi, money is held in smart contracts and in users’ personal wallets. There are no third parties required to make transactions which are automated, secure, and emitted on the blockchain.
What are XY=K endpoints?
In crypto, XY=K refers to the bonding curve which defines a token price relative to its supply. This bonding curve allows for the liquidity pool model known as the “Constant Product AMM”. The majority of popular DEXs use this model to price tokens, and we found that we could easily support these similar exchanges all through a set of XY=K endpoints which return the latest information on token pairs, on-chain pricing, liquidity pools, volume traded and more. Read more about this in the articles section below.
What can I build with DEX data?
The Covalent XY=K endpoints make it super easy to build analytics dashboards for different tokens and/or liquidity pools across multiple supported blockchains. Additionally, users can incorporate this data into a wallet interface to provide an overview of a client's DeFi activity.