Gelato Network
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Gelato Network

Gelato Community Update — June 2022

What a month it has been in crypto!

These last few weeks have been a rather painful experience for many participants in the ecosystem, but here at Gelato everything is business as usual. Even though prices went down, resulting in gas spikes and cascading liquidations, the Gelato Network has been operating with 100% uptime with all transactions across 11 different EVM chains executing reliably.

Turbulence brings on moments of reshuffling in markets, which often separates the true builders from the crowd. Our focus will always be to lead innovations within web3, and push the advancements of technology by building tools and applications that bring value to developers and users across a variety of blockchains.

The Gelato Lockdrop

Following on from our previous Community Update, the $GEL Lockdrop concluded on the 10th of June, with 44.6% of the entire current circulating supply of GEL tokens locked. These GEL tokens will remain locked until the 8th of September 2022. All participants of the Lockdrop will be eligible to claim their respective share of the $SPICE token airdrop by Arrakis Finance upon launch, TBD 2023.

The $GEL Lockdrop

June Performance Recap

In June, 319,128 transactions were executed by Gelato — bringing the total transaction count up to a whopping 2.4 million since March 2021. In comparison to May overall transaction count declined by 15% MoM.

Total monthly transactions January to June 2022
Total transactions June 2022

A majority (60%) of the transactions took place on Polygon; followed by BNB (9%), Fantom (9%) and Avalanche (7%).

⚙️ Gelato Ops

Networks that are now live on Gelato Ops include Cronos, Moonbeam, Moonriver, and Optimistic Kovan.

The Ops transaction count has grown from 14,218 transactions in January 2022, to 156,356 transactions across 1,958 active tasks in June, representing a 999.7% semi-annual growth rate. MoM Gelato Ops transactions have grown by 33.1% in June. 765 new tasks were created in June, resulting in a 23% MoM growth rate.

Gelato Ops daily transaction count, January to June 2022

Some new task creations and integrations last month included:

Automating Claiming of SNX Staking Rewards on Optimism

Set it once, and forget it.

@cyberducketh on Twitter

Allow the Gelato bots to automatically claim the accrued Synthetix staking rewards on your behalf. Check out this extremely descriptive guide on how to do so here:

Zest Protocol using Gelato to regularly perform oracle updates

Zest Protocol allows you to earn zesty yields without impermanent loss by harnessing the power of synthetic assets backed by collateral. By utilising Gelato, oracle updates are performed regularly in specifically set intervals to ensure prices are accurately reflected in real time.

Superfluid & Gelato for Stream Scheduling

Superfluid is an asset streaming protocol on EVM compatible Networks. With the addition of Stream Scheduling, Superfluid integrates Gelato to automatically create programmable cash flows by managing money streams based on pre specified conditions. This automation is responsible for handling many strategy streams such as salary payments, DCAing, liquidity provisioning, and much more — all in a seamless and automated fashion.

🚀 Learn how to automate Start/Stop Superfluid streams in Super Apps using Gelato, by Javier Donoso

Martian Premier League using Gelato to automate gaming activities

MPL is a new and fun football management game on the Polygon Network which uses Gelato to randomize and automate certain aspects of daily gaming activities.

The Martian Premier League Bootcamp wouldn’t run without Gelato automation, revealing game results and triggering randomness without a hitch, keeping our challenges going 24/7. A delightful web3 developer integration experience” Adam Fuller at MPL.

Gelato Relay

Relay transaction count was at 120,847 in June, representing an overall decline of 38.9% MoM. We noticed a spike in transactions on Arbitrum starting from June 21, as people started bridging funds from Ethereum Mainnet to Arbitrum as part of the 8 Week Arbitrum Odyssey challenge.

Relay daily transaction count, January to June 2022

Limit Orders

Limit Order volume was $6.3 million last month with 54% of the orders being executed on Fantom, followed by BSC (39%) and Polygon (4%).

Limit order volume by network, June 2022
Gelato ecosystem map, June 2022

ICYMI

About Gelato Network

​​Gelato Network enables developers to automate & relay arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum.

Our goal is to provide developers with a reliable, scalable & decentralized network to which they can outsource all web3-related DevOps.

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

► Check out what we’ve been working on at https://www.gelato.network

► Automate your smart contracts at https://app.gelato.network/

Connect with us on:

🐦 Twitter | 💬 Telegram | 📺 Youtube | 🔗 Linktree

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