Let's look at instructions from Uniswap for new developers looking to build integrations with one of cryptocurrency's largest DEXes.
Uniswap 101
Uniswap is the second-largest cryptocurrency Decentralized Exchange (DEX) in terms of Total Value Locked.
The protocol has step-by-step instructions for developers to build on-chain integrations with the DEX.
In this story, we’ll provide an overview of the instructions from Uniswap. We’ll cover:
- Setting up a development environment
- Writing a basic swap contract
- Testing the contract
- Finalizing the contract.
Setting Up a Development Environment
Uniswap allows developers to use different environment stacks when building. One of the common ones is Hardhat which runs nodes and provides a test framework. Alchemy is a tool for creating a Remote Procedural Call (RPC) -- that allows off-chain clients to communicate with a blockchain for building Decentralized Applications (dApps).
Start by cloning Uniswap’s sample project. This project can be found on the DEX’s GitHub. The selected test environment lets us Hardhat will then run a fork on Mainnet.
The next step is to fork the Ethereum Mainnet. The Hardhat environment can be advantageous in this step as it allows for running tests on the Ethereum node locally. That means the developer won’t incur gas fees for developmental testing. The benefit of using Hardhat is that it takes a snapshot of the project in a local node before refreshing, which secures the data.
Writing a Basic Swap Contract
The next step is to build the integration. Build your desired project or follow what Uniswap has provided in their post. When you have a completed contract, double-check to confirm that it conforms to these examples before testing it.
Testing the Contract
After building the contract, the developer has to test it. Use a testing framework like Chai to check how the contract is functioning. Check the tests recommended by Uniswap here and how to do them.
Finalizing the Contract
What’s next after developing your first contract? Uniswap recommends learning more by adding onto the contract, or cloning the repo to start again from scratch. Here are some advanced contract functions to try to create:
- Build a simple user interface
- Add an exact output swap function
- Write a general swap contract to swap between any ERC-20 pairs
- Write a program that feeds users with live prices
- Deploy the contract to a testnet
- Be creative!
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News
Prisma Finance Reportedly Hit by $9M Hack: What to Know
Prisma Finance paused its protocol operations for investigation and advised vault owners to disable delegate approval.
Reports have emerged indicating that DeFi platform Prisma Finance, fell victim to a hacking attack amounting to approximately $9 million. Cyvers, a web3 security platform, raised the alert after it detected suspicious transactions linked to the breach.
🚨UPDATE🚨Our system has detected multiple suspicious transactions with @PrismaFi and still ongoing!
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) March 28, 2024
Total loss so far is around $9M. Attacker has funded by @FixedFloat!
Our system has detected the malicious contract 2 min earlier than hack transactions!👇
Our system would… https://t.co/9myoV8DL22 pic.twitter.com/SxT5yYZy7U
Initial estimates suggest a loss of $9 million, with the attacker reportedly utilizing funds from the crypto exchange FixedFloat.
Backing up Cyvers' findings, blockchain security firm PeckShield has confirmed the attack, providing details on the assets targeted by the hacker. Among the stolen assets are Prisma mkUSD and wrapped stETH.
In response to the breach, Prisma Finance issued a statement on X acknowledging the potential exploit. The project reportedly halted its protocol operations to conduct a thorough investigation into the incident.
Additionally, Prisma Finance advised vault owners to disable delegate approval as a precautionary measure.
We are aware of a possible exploit on Prisma.
— Prisma Finance (@PrismaFi) March 28, 2024
Core engineering contributors will pause the protocol and investigate.
We'll share an update and a post-mortem.
From DeFi Future to Security Concerns
Prisma Finance was initially hailed as the future of decentralized finance (DeFi), offering solutions in the form of a new LSTFi protocol. It enabled users to mint a fully collateralized non-custodial and decentralized stablecoin, mkUSD, using Ethereum liquid staking tokens (LSTs) as collateral.
However, the recent exploit paints a stark contrast to the platform's previous reputation, raising concerns regarding cybersecurity in the DeFi space.
Rising Trends in Crypto Hacks
The hack on Prisma Finance adds to a concerning trend in the cryptocurrency space. According to a Feb. 29 report by blockchain security firm Immunefi, over $200 million worth of cryptocurrency was lost to hacks and rug pulls last February, across 32 individual incidents.
This represents a 15.4% increase compared to the same period in 2023. Ethereum remains the most targeted blockchain, with 12 attacks accounting for over 85% of the total value lost in February.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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