Gelato Community Update — January 2023
Welcome back Gelato Fam! We hope that you’re all refreshed, rejuvenated and ready to kick things into high gear as we move into February. Here at Gelato HQ we’ve started the year on a high note with product launches such as Gelato Relay’s 1Balance entering public beta, a PoC of Gelato’s Account Abstraction SDK, and much more being worked on under the hood, that we’ll touch on — soon™.
Account Abstraction — the hot new topic of 2023
Account Abstraction is a powerful and vital implementation to sustain web3's health, security, and innovation.
At Gelato, our vision has always been to push the envelope by offering a world-class UX. AA will play a large role to bring a web2-like experience with the custodial properties of web3 in the hands of billions of users, which is why we’ve been working on this since 2019. Expect to hear more in the very near future as we continue to spec out the first PoC Gelato AA SDK together with Safe.
If that sounds complicated, we’ve got you! We took to Twitter to break AA down in the simplest possible terms so everyone can understand how this will change web3 for the better- check it out below!
Gelato Relay
First and foremost…
Gelato 1Balance is a new flexible and bespoke payment system built from the ground up exclusively for Gelato customers. It allows customers to deposit funds on any chain they prefer and use that balance to cover their relay costs- regardless of the target chain.
Try it out now at https://relay.gelato.network/
January Performance Recap
In January, 197,037 transactions were executed by Gelato — bringing the total transaction count up to 4,115,462 million.
Gelato Automate
Gelato Automate executed 129,095 transactions in January, bringing the total transaction count for Automate up to 1,801,904 million!
Gelato Relay
Gelato Relay executed 38,598 transactions in January, bringing the total transaction count for Relay up to 1,786,555 million
Integrations Spotlight
- DCA Cash integrates Gelato‘s automation to perpetually execute swaps from USDC to ETH on Polygon. Users choose the tokens, amounts they want to trade and the frequency of swap. Then the automated task is set which is scheduled to execute upon the users pre-specified conditions. DCA’s are powerful tools that have leveraged automation and will always continue to benefit from implemented automated strategies such as this. Stop worrying about consciously having to check the market price waiting for an entry and use tools like this!
- MyCelium is a derivatives platform built on Arbitrum that allows users to access perpetual swaps and enter perpetual pool with leveraged tokens. Mycelium is now using Gelato across various Pools to optimize automatic upkeeps for various vaults on scheduled regular basis.
- SUBZERO+is now utilizing Gelato to automate core smart contract functions on our unique 10-year duration Freezer and Boardroom contracts.
We chose Gelato because they offer 24/7 Monitoring, instant execution and it couldn’t be easier. We’ll never delay a rebase… thanks to automated, aware smart contract automation. We’ve also been looking into gasless transactions (Gelato Relay) and limit order functionality. Looking forward to building new solutions with Gelato.
Mark — Founder, @SubZero
- Wonderly Finance creates Gelato tasks that automate their protocols seigniorage mechanism alongside their oracle price feeds. Gelato bots automatically execute the seigniorage function periodically, ensuring stability of the token supply via regular rebalances.
- Trader Joe integrates Gelato Automate triggering automated epochs within the core functionalities of Plague Game.
The contract was easy to integrate & set up, enabling us to automate tasks that had to happen in each epoch of the game, it saved us time & resources whilst also ensuring consistency of operations in game”
0xmurloc — Co-founder, Trader Joe
ICYMI…
Gelato’s Builder Bounties program will support those building projects that benefit the wider web3 community. We’re offering 50,000 OP Tokens to help developers automating functionalities for their apps with Gelato, submit your application here!
Workshop hosted by Gearbox Protocol ⚙️🧰 unveiling Gearbots. Featuring, Mellow Protocol, Brahma Finance, Wonderland and Gelato Network. The stream talked about the need for automation in DeFi, it’s impact on UX, a walkthrough on implementing automated strategies within Gearbox Protocol ⚙️🧰 using Gelato accompanied with a live tutorial.
Make your mark on web3 history
Proto-danksharding (aka EIP-4844) is a planned change to the Ethereum protocol which introduces ephemeral data storage.
Ethereum’s KZG Ceremony offers everyone the chance to contribute to the next chapter of Ethereum scalability.
All you need to participate and make your mark is a laptop with a good wifi connection, an Ethereum address that has sent (minimum) 4 txs before Jan 13 2023 OR a GitHub account.
Check out our thread for more details on how this ceremony will benefit web3 and how you can get involved!
Developer Resources
- Gelato Dev Docs: docs.gelato.network
- Gelato Ops SDK: github.com/gelatodigital/ops-sdk-hello-world/
About Gelato Network
Gelato is web3’s decentralized backend empowering builders to create augmented smart contracts that are automated, gasless & off-chain aware.
Leading Web3 projects rely on Gelato to power the execution of millions of transactions across DeFi, NFT and Gaming.
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