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Monitoring Uniswap Swap Events: Managing Rate Limits with Uniswap V2
As a developer working with decentralized finance (DeFi) platforms, understanding and limiting throughput is essential. A common issue that arises when implementing complex monitoring solutions, like our example, is the rate limit imposed by the InterPlanetary File System (IPFS) and Infura.
In this article, we will see how to monitor hundreds of Uniswap swap pairs simultaneously while mitigating potential rate limiting issues using the Infura API.
Uniswap V2 API Overview
Before we dive into the solution, let’s quickly review the basics of the Uniswap V2 API. The Uniswap API provides endpoints to retrieve various information about swaps, including:
GET /swap_pairs: Retrieves a list of available swap pairs.
GET/swap_pair/{pair}: Retrieves detailed information about a specific swap pair.
- GET /swap_events/{event_id}
: Retrieves the latest swap event for a given ID.
Infura Rate Limiting Issue
Infura, an online platform that provides free and paid hosting for IoT, blockchain, and other decentralized application (dApp) data services, uses IPFS to store and serve assets. This results in speed limits on public endpoints such as the Uniswap V2 API for the following reasons:
- IPFS Storage: The Uniswap API stores swap events in IPFS, which is not scalable for large-scale applications.
- Public Endpoint Usage
: The Infura API is intended to be accessed via a client-side application or local proxy. However, this limits the ability to monitor and process large amounts of data from multiple pairs simultaneously.
Solution: Monitor Swap Cancellation Events in Bulk
To overcome these limitations, we can use the concept of batch processing to handle large volume swap events from multiple pairs. We will create a script that continuously monitors new swap events on various Uniswap V2 API endpoints and stores them in a database.
Here is an example using Python:
import requests
Set API credentials (replace with your actual Infura API keys)api_key = 'YOUR_API_KEY'
api_secret = 'YOUR_API_SECRET'
Set Uniswap V2 API endpointsuniswap_v2_endpoints = [
"
Replace with your project ID and API key'
Replace with another project ID and API key]
Set a swap event endpoint for bulk processingbulk_process_endpoint = '
monitor_uniswap_swap_events() definition:
for uniswap_v2_endpoints pair:
response = requests.get(f'{pair}/swap_pairs')
data = response.json()
Process each swap eventfor an item in data['items']:
if 'pair' in item and item['pair'] is not treated_swap_events:
process_swap_event(product)
def process_swap_event(event):
Store swap events in a database (e.g. MongoDB)swap_processed_events.add(event['pair'])
if __name__ == '__main__':
monitor_uniswap_swap_events()
Example Use Case
To illustrate how this script works, let's say we want to monitor 100 Uniswap V2 API endpoints for swap events. We can modify the "process_swap_event" function to store each event in the database:
“ python
import date and time
Set the database connection parameters (replace with the actual database credentials)
database_host = ‘your_database_host’
Database_username = ‘your_database_username’
database_password = ‘your_database_password’
def process_swap_event(event):
Create a dictionary to represent the swap event in the database
database_event = {
‘timestamp’ : datetime.datetime.
