How to Use the Odos Token Pricing and Smart Order Routing APIs

Summary

In this video, Dana from Odos introduces an upcoming hackathon in partnership with QuickNode, focusing on their advanced APIs for smart order routing and token pricing. Odos stands out with its innovative nonlinear routing algorithm, tapping into over 900 liquidity sources to optimize trade execution for various tokens. Participants will explore use cases and coding examples to leverage these APIs, with a prize pool of $10,000 for the best applications. The session concludes with resources for developers to help them navigate the APIs and succeed in the hackathon.

Takeaways

• 😀 Odos is a smart order routing and DeFi abstraction platform that leverages over 900 liquidity sources.
• 😀 The hackathon focuses on utilizing two key APIs: the Smart Order Router API and the Token Pricing API.
• 😀 Participants have the opportunity to win a total of $10,000 in prizes, with $5,000 for first place.
• 😀 The Smart Order Router API offers an intuitive interface to obtain executable call data based on user inputs.
• 😀 The Token Pricing API provides block-by-block updates for real-time token pricing, enhancing accuracy.
• 😀 Odos supports over 55,000 tokens and operates across 13 different chains.
• 😀 The hackathon encourages innovative applications that can showcase unique use cases of the APIs.
• 😀 Participants are provided with resources such as documentation and quick start guides in JavaScript and Python.
• 😀 There is a dedicated Discord channel for participants to ask questions and seek support during the hackathon.
• 😀 The API features, including slippage limits and referral codes, are designed to enhance user experience and functionality.

Q & A

What is Odos, and how does it differ from traditional DEX aggregators?

Odos is a smart order routing and DeFi abstraction platform that uses nonlinear routing across over 900 liquidity sources, including decentralized exchanges and on-chain order books, allowing for better rates and execution compared to traditional DEX aggregators.

What are the two main APIs featured in the hackathon?

The two main APIs are the Smart Order Router API, which uses nonlinear algorithms for optimized routing, and the Token Pricing API, which provides real-time, block-by-block token pricing.

What is the total prize pool for the hackathon and its distribution?

The total prize pool is $10,000, distributed as $5,000 for first place, $3,000 for second place, and $2,000 for third place.

How does the Token Pricing API improve upon traditional pricing data services?

The Token Pricing API offers block-by-block updates for on-chain prices, significantly reducing the latency of price updates compared to traditional providers, which typically refresh every 30 seconds to a minute.

What kind of applications are participants encouraged to create during the hackathon?

Participants are encouraged to create applications that showcase innovative use cases utilizing the Smart Order Router API and/or the Token Pricing API, aiming to develop new markets or products.

What resources are available for participants to assist them in building their applications?

Participants have access to comprehensive documentation, quick start guides in JavaScript and Python, an interactive Swagger instance, and a public GitHub repository for code examples.

How can participants get support during the hackathon?

Support can be accessed through a dedicated Discord channel for the hackathon, where participants can ask questions and get assistance directly from the Odos team.

What is the significance of the 'path ID' mentioned in the presentation?

The path ID serves as a unique reference for a specific routing path at a given time, but it cannot be reused to replicate the same route later.

What options are available regarding slippage when using the APIs?

Participants can set a slippage limit percentage to manage risk during transactions, ensuring they limit potential losses when executing swaps.

What is the 'zap' feature mentioned in the presentation?

The 'zap' feature allows users to move in and out of liquidity pools through atomic swaps, providing a simplified process for managing liquidity.