Gelato Community Update — April 2022
Welcome to another Gelato Community Update!
As the month comes to an end, we recap some of the highlights of this jam-packed April here at the Gelato Network. There’s a lot to catch up on and unpack, so without further ado — let’s dive straight into it!
Introducing Range Orders
This has been an extremely anticipated launch that we have been laser-focused on developing over the last few months. Rolling out straight to Polygon’s Uniswap V3, placing Range Orders on Sorbet Finance is as simple as a few clicks.
If you’re not familiar with placing Range Orders, check out the walkthrough below:
Placing Range Orders on Uniswap V3 (Polygon) Using Sorbet Finance
You can now place range orders on Polygon‘s Uniswap V3 using Sorbet Finance
In a nutshell, our Range Order system allows users to provide single-sided liquidity to a Uniswap V3 LP position, determine a Range Order price, and once the market crosses over your specified price, the liquidity you supplied will be ejected for your desired token, successfully executing your Range Order.
Forget the complexities of trying to manually time range orders and let the Gelato bots monitor market ranges and handle executions on your behalf.
⚙️ Gelato Ops
Speaking of Executions, Gelato Ops continues to rocket with the number of executions trending strongly upwards.
Some of the most notable Ops integrations of April include:
- Abracadabra (Abracadabra.Money) — Automating $SPELL staking reward payouts cross-chain using Gelato and Layer Zero. Check out how here!
- FURUCOMBO — Celebrates the launch of a series of new Pools on Furucombo Invest utilizing Gelato to automate farming by creating simple tasks with a set and forget strategy.
- Gro — has also implemented automated harvesting strategies on select stablecoins to deliver superior returns to its users on Ethereum Mainnet in a decentralized and transparent way.
- SCREAM & Sphere Finance — They’ve been leveraging Gelato Ops to distribute their rewards on a weekly basis, so their developers can save their precious DevOps efforts and focus on their core developments to grow their projects.
- 0xDAO — The DAO ecosystem for Fantom (Fantom Foundation) is using Gelato Ops to reset 0xDAO votes only after 0xDAO claims the inflation for its veNFT.
Fiat DAO — utilizes Gelato in order to push updates to its Oracle System called Delphi which is responsible for valuing the fixed income assets the stablecoin protocol uses as collateral. Timely execution of such updates allows Fiat DAO to offer high LTV ratios on collateral while ensuring adequate protocol backing.” Max, Fiat DAO
A total of 80,780 tasks were executed in the month of April, with a ~50% growth in overall Executions over the last 30 days.
Smart contract automation has never been easier.
The Gelato Token, $GEL celebrates the beginning of becoming a multi-chain token. $GEL is now available to bridge between Ethereum Mainnet & Fantom, made possible thanks to Celer & Multichain. Liquidity is currently available only on Beethoven X with some pretty cool staking incentives.
Which chain would you like to see $GEL available on next? Get in touch with us and let us know on our socials!
- A vlog by our very own Sarah Amman — Day in the Life of a Gelato Network Developer Advocate, at DevConnect, Amsterdam.
- Workshop at ETHAmsterdam: Gelato Network 🛠 Cross-chain Automation for Multi-chain Dapps Using Gelato & Layer Zero
One year later,
Gelato celebrates the 1st anniversary of launching Gelato V2:
That’s a wrap! If you have any suggestions for our monthly community update, please let us know!
About Gelato Network
Gelato Network is web3’s automation network, enabling developers to automate & relay arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum.
Gelato’s goal is to provide developers with a reliable, scalable & decentralized network to which they can outsource all of their web3 related DevOps operations.
Examples of which features are powered by Gelato include:
- Limit Orders on PancakeSwap
- Periodically updating debt ceilings on MakerDAO
- Offering users gasless token claims on Connext
- Automatically compounding yield farming vaults on Beefy Finance
- Automating the breeding of new digital racehorse NFTs on ZED RUN
- Rebasing of algorithmic stablecoins with Tomb Finance
- Updating price oracles on Abracadabra
► Check out what we’ve been working on at https://www.gelato.network
► Automate your smart contracts at https://app.gelato.network/
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