Zerion has rolled out an open-source DeFi SDK that will solve a big problem in the industry for dapp developers.
Currently, the process of integrating protocols is slow and fragmented. It’s common to see dapps that only support a limited list of protocols or dapps that suffer from imprecise accounting. This is because rather than query user balances on-chain, developers often need to hardcode information. Or pull it through an API which is not ideal.
In the last 12 months, the DeFi ecosystem has grown significantly and Zerion has needed to add support for various protocols. Uniswap, MakerDAO CDPs and Vaults, Compound, Bancor, Fulcrum, and more.
This growth, whilst exciting, is very challenging from a technical perspective. In order to keep up with this explosion in growth, Zerion needed to scale the way they approached integrations with DeFi protocols and this DeFi SDK is their answer to this.
Game changer for dapp developers
The new Zerion DeFi SDK has transformed this pipeline by making it significantly easier to do what was once a manual, multi-step process. This is a huge step forward for the DeFi ecosystem as it essentially eliminated a lot of work for dapp developers. The best part? It’s open-source and completely trustless.
“The DeFi ecosystem is based on a principle of shared value. The most valuable products in the space are open-source, which is why we bet on communities built around joint effort. Aligned with this ethos, we recently launched the DeFi SDK – a system of smart contracts that makes it easier for developers to integrate with every DeFi product.”, says Evgeny Yurtaev, the CEO of Zerion.
As a way to test the power and capabilities of the system. Zerion’s founders used the DeFi SDK to build ?DeFi Market Cap? in a single weekend. DeFi Market Cap summarizes the top programmable DeFi tokens by market capitalization and went viral on ?Twitter?.
Both products have now been featured on ?Bloomberg?, CoinTelegraph?, and the ?DailyHODL?, following their total market capitalization bouncing back over $1 Billion.
Zerion says they have designed the SDK with three core benefits in mind:
Developers: If you’re a dapp developer, integrating DeFi protocols is as easy as using a single library. DeFi SDK gives you instant access to 17+ leading DeFi protocols instead of manually integrating each of them. If you’re a protocol developer, any updates you make are automatically reflected on all dapps that use DeFi SDK.
Community: We’re sharing open-source solutions to common problems. DeFi SDK increases interoperability of different DeFi products and makes it easier to build DeFi apps
Users: dapps can now support your favorite DeFi assets and protocols with ease. This means faster updates and better user experience.
One big advantage
The advantage to anyone who uses the DeFi SDK, and specifically Zerion’s Adapter Registry, is that after integrating with DeFi SDK just once. The system will automatically integrate existing protocols on the Registry as well as any new ones added. This will save a considerable amount of time and ensures more precise portfolio accounting across dapps.
Accurate data and metrics are at the heart of everything DappRadar provides. As such, this SDK could potentially allow us to deliver even more precise metrics through our own OpenData product.
“It’s very cool! They have streamlined a time-consuming process for dapp developers and delivered a solution that will piece together the fragmented DeFi ecosystem. We are excited to see how it develops.”, says Skirmantas Januskas, CEO, DappRadar.
This first version of DeFi SDK is for precise DeFi accounting. Zerion says the next step will be to introduce Interactive Adapters that standardize the way dapps interact with multiple DeFi protocols.
It will be interesting to keep track of Zerion in 2020.
Have any questions? Join the DeFi SDK Discord