Gelato Community Update — October 2022
Hi everyone!
This month, we’re gathering you round the campfire to share the most eerily exciting developments for October, including key metrics around transactional growth, latest integrations and much more.
Build with Gelato
This is a program that we’re launching to empower developer communities, reward engagement, and connect builders across web3.
Building alongside Gelato involves numerous perks including (but not limited to):
- Offering a tailored approach to integrations
- Exclusive access to early product offerings & private betas
- Marketing & features in Gelato’s monthly integration spotlights as well as networks with high value investors across the web3 space
Through participation and engagement, you’ll be recognized as a high value individual within the Gelato Community, enjoying preferential choices for future developments related to the Gelato Ecosystem.
Stay tuned for all the details around Build with Gelato in the coming weeks, as well as more exciting announcements lined up for November.
Reach out to us directly in the Gelato Discord, we’d love to hear more about you and what you’re building!
October Performance Recap
In October 271,494 transactions were executed by Gelato, bringing the total transaction count up to 3.45 million.
Compared to September, the MoM transaction count increased by 12.5%
⚙️ Gelato Ops
In October, Gelato added 221,980 new transactions to the Ops transaction count, bringing the total transactions executed by Ops to 1.32 million. This is an increase of 20% MoM from September to October.
Gelato Ops V2 is live!
This major update implements the use of dedicated msg.senders for enhanced security, as well as a flexible module based task creation architecture. Gelato Ops V2 features an addition of optimizations that further advance the reliability within task creation and executions across all networks.
Check out this newest release here! https://github.com/gelatodigital/ops/releases/tag/2.0.0
🎯Integrations Spotlight
- Atlendis leverages Gelato’s automation for scheduled fee distribution. significantly minimizing order-book volatility during distribution. Thanks to Gelato automating the fee collection, Atlendis can ensure that lenders are periodically rewarded in the exact amount of fees earned over time. This scheduled process runs automatically in the background, with the complexities abstracted to Gelato to ensure that tasks continue to execute perfectly as intended.
“Atlendis is a credit protocol connecting permissionless lenders with institutional borrowers. Atlendis’ specificity is that lenders choose their borrower and their lending rate by depositing liquidity in a dedicated rate order book. Interest rate fees are distributed to lenders’ positions in a target lending rate tick on Atlendis’ order book, and the distribution depends on the deposit distribution on other ticks. We setup a Gelato automation that regularly checks fees distribution to reduce the impact of volatility in the order book deposits distribution. We then automate the fee collection and ensure that lenders got the exact share of the fees they earned”
Stéphane Coquet, CTO @ Atlendis Labs
- MakerDAO’s integration with Gelato expands further with the addition of various tasks designed to enhance and empower the Maker Protocol. Check out this great video by our Developer Advocate — Sarah, where she touches on the ways MakerDAO relies on Gelato automation, and how by integrating Gelato’s backend under the hood, protocols across web3 retain censorship resistance.
- Mugen Finance implements Gelato’s automation for regular auto-compounding of MGN rewards on a daily basis.
- InterestDeFi, a fractional reserve banking protocol uses Gelato to automate repaying low balances.
ICMYI
A fantastic taptalk by Tapioca DAO, where @gitpusha dives into the history of Gelato, as well as where we are headed in the near future. Lots of alpha in this Taptalk which you don’t want to miss!
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
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► 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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