Socket_Token_Fetcher
TokenFetcher is a cross-chain price aggregation tool leveraging Socket Protocol to fetch token prices and gas costs from multiple chains. It calculates the optimal chain by combining token price & gas
Created on 7th December 2024
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Socket_Token_Fetcher
TokenFetcher is a cross-chain price aggregation tool leveraging Socket Protocol to fetch token prices and gas costs from multiple chains. It calculates the optimal chain by combining token price & gas
The problem Socket_Token_Fetcher solves
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Optimal Trading Decisions:
Users can identify the chain offering the best combined token price and gas fees for a specific token, enabling cost-efficient trading and swapping. -
Simplified Multi-Chain Analysis:
Instead of manually checking token prices and gas fees across multiple chains, TokenFetcher automates the process, saving time and reducing the risk of errors. -
Arbitrage Opportunities:
Traders can quickly spot price differences across chains, combined with gas fees, to identify potential arbitrage opportunities. -
Cross-Chain Swapping:
Users planning to swap tokens on decentralized exchanges can use TokenFetcher to find the most cost-effective chain, ensuring maximum returns on their transactions. -
Decentralized Applications (dApps):
Developers can integrate TokenFetcher into their dApps to provide users with real-time, aggregated price and gas data, enhancing user experience and decision-making.
Challenges we ran into
- We have to change our idea at the last moment.
- Foundry is not working on my machine, have to use Hardhat for this , but Socket does not have npm package. Copied all the dependency into our Project itself.
Tracks Applied (2)
Best Horizontally Scaled Application
Socket
Best use of pre-execution and abstracted composability
Socket
Technologies used