Monitoring uniswap swap events: managing rate limiting with unniswap v2
AS A Developer Working with Decentralized Finance (Defi) Platforms, Understanding and Handling Rate Limiting is crucial. One common issue that arises when implementing complex monitoring solutions like Our Example is the rate limiting imposed by interplanetary file system (ipfs) and infura.
In this article, we will discuss how to monitor uniswap swap events of hundreds or pairs competitorly while mitigating potential issues with rate limiting using infura’s apis.
Uniswap V2 API Overview
Before Diving Into The Solution, Let’s Quickly Review uniswap V2 API Basics. The Uniswap API Provides Endpoints for Retrieveing Various Information about Swaps, Including:
Get /swap_pairs: retrieves a list of avia swap pairs.
Get/swap_pair/{pair}: Retrieven Detailed Information about a specific swap pair.
- Get /swap_events /{event_id}
: Retrieven the latest swap event for a given id.
The Problem with Infura's rate limiting
Infura, an online platform Providing Free and Paid Hosting for IoT, Blockchain, and Other Decentralized Application (Dapp) Data Services, Uses IPFS to Store and Serve Assets. As a result, IT Introduces rate limiting on public endpoints like the uniswap v2 api due to the following reasons:
- IPFS Storage : The Uniswap API Stores Swap Events on Ippfs, which is not Scalable for Large-Scale Applications.
- Public Endpoint Usage : Infura's apis are mean to be accessed through a client-side application or a local proxy server. However, this limits the ability to monitor and process large volumes or data from multiple pairs competitor.
The Solution: Monitor Uniswap Swap Events in Bulk
To overcome thesis Limitations, we can leverage the concept of batch processing to handle high-volume swap events from multiple pairs. We will create a script that Continuously Monitors for New Swap Events on Various Uniswap V2 API Endpoints and Stores Them in a Database.
Here's An Example Using Python:
Python
import requests
Set Up API Credentials (Replace with Your Actual Infura API KEYS)
API_Key = 'Your_api_Key'
API_Secret = 'your_api_secret'
Define the uniswap v2 api endpoints
uniswap_v2_endpoints = [[
'
replace with your project id and api key
'
Replace with Another Project Id and API Key
]
Define the swap event endpoint for bulk processing
Bulk_process_endpoint = '
Def monitor_uniswap_swap_events ():
for pair in uniswap_v2_endpoints:
response = requests.get (f '{pair}/swap_pairs')
Data = response.json ()
Process Each Swap Event
for item in data ['items']:
if 'pair' in item and item ['pair'] Not in processed_swap_events:
process_swap_event (item)
Def Process_swap_event (event):
Store the Swap Event in A Database (E.G., Mongodb)
processed_swap_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 A Database:
“ Python
import detime
Define the Database Connection Settings (Replace With Your 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.