How Furucombo Utilizes Gelato for Automation
Gelato ecosystem spotlight: Meet Furucombo, a platform that allows you to create all kinds of DeFi combinations
This is a guest post written by the Furucombo team.
Furucombo is a tool for you to optimize your DeFi strategy in a simple drag-and-drop UI. Furucombo aims to reduce the complication of using DeFi for all skill levels of users and to bring the benefits of the ecosystem to everyone.
There are currently two branches of development on Furucombo, with a third coming soon, sometime early this year. The first branch of development is around create mode — it allows users to combine strategies for any integrated protocol within Furucombo, such as Uniswap, Aave, Compound, or 1inch. This means you can visualize complex strategies using the Furucombo UX, and allows for limitless possibilities for unique strategies. Additionally, the composed transactions, or cubes, will all execute within 1 transaction, which makes it easy for users to utilize the platform.
The second branch of development is invest mode. Invest mode allows anyone to partake in the yield farms to earn some reward for providing their liquidity. This is a more user-friendly method for less advanced users to get involved in DeFi, or anyone with liquidity to earn rewards on their funds. The third branch of development is the fund manager system.
The fund manager system will allow fund managers to pool funds which can then be actively managed utilizing the integrated DeFi strategies to maximize anyone who provides their liquidity into the fund managers' pools. This idea is similar to hedge funds in traditional finance.
How Furucombo Is Utilizing Gelato
Currently, Furucombo utilized Gelato through two functions, one for create mode, and one for invest mode.
The first function is for limit orders on the Ethereum network. When the user creates a limit order on Furucombo, it creates a scheduled task that will be executed when the specified price matches on Uniswap.
The second function that utilizes Gelato is Furucombo’s auto-compounding feature on its auto-invest farms on the Polygon.
The Code for Integration Of Gelato
The limit order feature
Furucombo’s limit order lets users place limit orders just like trading on a centralized exchange.
It’s quite simple to implement limit orders functionality with Gelato’s service. Below are the steps for limit order integration with Gelato:
- Get addresses of Gelato pine core, Gelato limit order module, and ERC20 order router.
- If the input token is ETH, invoke depositEth of Gelato pine core. The parameter of depositEth is constructed by encodeEthOrder of Gelato’s pine core.
- If the input token is an ERC20 token, invoke depositToken of the ERC20 order router.
This can be seen in the following link:
You can find all the descriptions of parameters of Gelato pine core in IGelatoPineCore.sol link below:
Furucombo limit order is live on Ethereum, you can try it here!
Auto-compounding feature
This auto-compounding feature empowers users to put daily yields back to the corresponding pool without any manual interaction.
When joining an auto farming pool, users need to select:
- Input token: the token that users prefer to use to join the pool. If the input token is not the same as the target token pair, then Furucombo will automatically swap the input token into the target token pair with a 50:50 split.
- Token amount: the amount of token users would like to deposit into the pool.
The current design includes three smart contracts:
- DSProxy.sol: an on-chain wallet owned by the user to interact with the auto-farming pools.
- TaskTimer.sol: the resolver that tells Gelato when, and how, to execute the auto-farming operations.
- FuruGelato.sol: the main contract that serves all the important operations: creating/deleting/executing the auto-farming tasks.
Furucombo relies on Gelato to check if a user is ready to auto-compound their daily yields. A user is ready based on two requirements: the specified amount of time interval has passed since the last execution, and the input parameters are legit.
The resolver will return _resolverData and a boolean value that indicates if the user is ready. This _resolverData includes the auto compound instructions along with its parameters for the user.
Gelato bots will execute the auto compound instructions on the user’s on-chain wallet through the core Furucombo auto-farming contract.
Furucombo provides a variety of auto farming pools for users to find the best fit for their needs. You can try it now from here!
Possible Additional Gelato Integrations
Currently, the limit order functions on Furucombo only support Uniswap, and only support a price target. A possible addition could be to add additional decentralized exchanges to target, as well as advanced options for the limit order such as changes in gas fees and average percentage yields as targets.
The auto-compounding feature, can be extended to include more strategies, as it is currently only available on the QuickSwap (QuickSwap Official) farms. This can also include the Ethereum network, as this feature is only integrated on the Polygon.
Other useful tools that Furucombo could integrate from Gelato would be its automated Uniswap V3 liquidity management tooling and its Aave debt position liquidation protection.
Because of the unique nature of Furucombo to include integration from different protocols, the ability to utilize Gelato to automate tasks in DeFi is critical to ensuring that users and fund managers have the tools necessary to engage in limitless possibilities.
We are excited about the future and look forward to continuing to work with Gelato on ensuring the community has the integrations they need to make Furucombo the most useful platform for everyone.
About Gelato Network
Gelato Network is Web3’s premier automation network, enabling developers to automate a wide variety of arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum. Examples of use cases developers have built on top of Gelato include Limit Orders on AMMs like Uniswap, automatic compounding of yield farming vaults, Aave liquidation protection, MakerDAO debt ceiling updates, automated liquidity management, and even the petting of Aavegotchis.
Our ultimate goal is to automate everything and by giving developers the reliable tools they need to do this, we can empower their users to get the most out of their Web3 experience.
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► Check out what we’ve been working on at https://www.gelato.network
► Automate your smart contract at https://app.gelato.network/
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