Zapper Integrates Chainlink Gas Price Oracle Live on Mainnet
Our team at Zapper is proud to share our live integration with Chainlink’s gas price oracle as a method of calculating gas costs for users making transactions on our platform. Chainlink’s gas price oracles provides users with a decentralized, on-chain source of gas prices that is sourced from an aggregation of secure node operators and high-quality off-chain APIs, providing users with a strong option for determining how to best manage their Zapper portfolio.
The Need for A Gas Price Oracle on Zapper
Zapper empowers users to track a snapshot of their DeFi assets, liabilities, yield farming, liquidity provisions, and more from a single dashboard. What’s more powerful is that we are the only tool to provide DeFi Zaps, which enable key investing strategies in a few clicks like staking, providing and withdrawing liquidity, claiming LP rewards, swapping liquidity provisions, and now sourcing DEX trades as an aggregator. Since Zapper is a non-custodial platform, performing any of the functions above requires users to pay gas fees. In order to properly manage their portfolio, users need to know the gas fees in advance when calculating the opportunity costs of various decisions like claiming LP rewards or swapping liquidity provisions.
Zapper uses off-chain APIs gasprice.poa.network and ETH Gas Station to provide up to date gas prices in our UI because it reduces the on-chain overhead required by Zapper. However, we pride ourselves on pushing the envelope of what a dApp can be and, wherever possible, use decentralized blockchain data, storing it only on the user’s system and never on any private servers. The advantage of this in Zapper is that everybody has access to the same data, it can easily be verified, and it is highly accessible.
Introducing Chainlink’s On-Chain Gas Price Oracle
Chainlink’s gas oracle fits perfectly into Zapper’s goal of providing a fully decentralized, on-chain price feed that is easily verifiable and highly accessible by anyone. It’s secured by a decentralized network of secure nodes and accompanied by a transparent visualization that showcases the real-time health of the oracle network, such as the current on-chain gas price, the individual responses of each node, when price updates occur, and several other key insights relevant to users.
Zapper will be using Chainlink gas price oracles as the primary fallback solution in cases where off-chain sources are unavailable, blocked, or our users prefer to rely completely on on-chain data. On-chain data for gas fees are particularly useful when users opt for privacy-focused tools that block off-chain APIs. It’s for this same reason that Tornado Cash also relies on Chainlink’s gas price oracle.
One of our Co-Founders Nodar Janashia commented on the added capabilities Chainlink brings to Zapper, stating “We pride ourselves on consistently integrating cutting-edge capabilities into the Zapper platform to bring flexibility to our users that keeps pace with the fast-moving world of DeFi. Chainlink is the industry leader in blockchain oracles, and their decentralized, on-chain gas price oracle brings additional security guarantees and flexibility to our network that all users can easily access and verify.”
We are excited to have launched Chainlink’s gas price oracle and are already exploring future integrations with Chainlink, such as with their Price Reference Data, to further enhance the capabilities of Zapper, truly making it an all-in-one DeFi platform.
Zapper is the ultimate DeFi dashboard for monitoring your portfolio, including assets, debts, liquidity pools, and yield farming. Connect your Ethereum wallet or paste in any ETH address or ENS domain. Zapper is also your gateway to investing in hundreds of DeFi strategies in just a few clicks with DeFi Zaps. Zaps can save you time, effort, and transaction fees (gas) by deploying your capital and reallocating it in a single DeFi command control center. Zaps work with the most popular DeFi protocols like yearn.finance, Uniswap, Balancer, Curve, and more. Don’t forget to try our new Zapper DEX aggregator under the Exchange tab.
If you’re a developer and want to quickly get your application connected to Chainlink Price Reference Data, visit the developer documentation and join the technical discussion in Discord. If you want to schedule a call to discuss the integration more in-depth, reach out here.
Chainlink is an open-source blockchain abstraction layer for building and running decentralized oracle networks that give your smart contract access to secure and reliable data inputs and outputs. It provides oracles to leading DeFi applications like Synthetix, Aave, and Kyber Network; numerous blockchains such as Ethereum, Polkadot, and Tezos; as well as large enterprises including Google, Oracle, and SWIFT.