Subsquid lowers the barrier to entry for building in web3 by making blockchain data easily accessible for everyone and usable for a wide range of applications. With an increase in liquidity in the crypto markets and the overall maturing of the industry, decentralized exchanges (DEX) have gained further momentum.
DEXs rely on a great amount of on-chain data to enable traders to swap tokens and display their wallet balances correctly. Subsquid serves as the crucial link, allowing exchanges to accurately and easily read that data, while also making it effortless to track swaps, bridging transactions, staking, etc. But how do projects building in web3 use Subsquid in practice? In the following, we’ll illustrate the use of Subsquid in the context of a DEX by highlighting how IceCream Swap uses our data solution.
IceCreamSwap is a multichain DeFi ecosystem where traders can Swap, pool Liquidity, Farm, Stake and Bridge tokens. The platform is complemented by a Launchpad. IceCream Swap leverages squids and the Subsquid Network to power its vast array of diverse solutions that rely upon it to provide accurate data.
How Subsquid Powers IceCream Swap
To ensure that all the services on its platform run in sync and smoothly, IceCream Swap uses Subsquid's decentralized network, powered by a web of independent nodes. Subsquid delivers consistent and dependable data thanks to the many node runners, data verification, and robust decentralized architecture.
IceCream Swap uses squids and The Subsquid Network to power swaps, bridging, staking, and other solutions on multiple chains. Thanks to squids, historical on-chain data is accessed quickly, reliably, and securely, helping power IceCream Swap’s many applications without hampering the user experience.
IceCream Swap's Transition to Subsquid
Due to their ambitious growth trajectory and commitment to providing a seamless user experience across a wide array of blockchain networks, IceCream Swap quickly ran into challenges with their existing data setup using The Grap. Despite The Graph's pioneering role in providing historical data, IceCream Swap's needs outgrew its capabilities.
Many of the chains critical to IceCream Swap's expansion weren't supported by The Graph, restricting the DEX aggregator's ability to integrate a diverse set of assets and liquidity pools.
The time required to sync new subgraphs was considerably long, resulting in deployment delays that hindered IceCream Swap's ability to respond to market demands rapidly.
Managing a private RPC for each chain to circumvent public RPC rate limits added unnecessary overhead and complexity to IceCream Swap's operations.
After an extensive search for alternatives, IceCream Swap selected Subsquid for its superior flexibility, speed, and technical simplicity. Subsquid stood out due to multichain support, accelerated sync time, simple yet flexible tech stack, adaptability, and direct support from the team.
Subsquid's architecture allows for quick adaptation and support for a broad spectrum of blockchains, aligning with IceCream Swap's goal of being a truly chain-agnostic DEX aggregator. Subsquid's efficient data processing model drastically reduces syncing times, enabling IceCream Swap to deploy new features and integrations without unnecessary delays.
“We're thrilled to transition to Subsquid, which facilitates our swift expansion to additional blockchains, aligning with our growth objectives. This, we hope, will be just the start of a long-term, multifaceted partnership.” - Simon K., Founder of IceCream Swap
Leveraging TypeScript directly, Subsquid offers a more straightforward development experience, streamlining the process of building and maintaining IceCream Swap's data infrastructure. The flexibility of Subsquid's framework allows IceCream Swap to tailor the data layer of its DEX aggregator precisely to its needs. Moreover, having direct access to Subsquid's support team facilitates quick resolutions to technical challenges.
“It was a pleasure working with the ambitious IceCream Swap team and seeing how they’re leveraging our multichain data support to run an AI-powered DEX. We’ll continue collaborating and supporting any further expansions they plan.” Dima Zhelezov, CEO of Subsquid.
How to Supercharge your Dapp with Subsquid
Incorporating Subsquid into your dapp enhances its stability, safety, and robustness. Depending on centralized infrastructure can jeopardize your app's availability and the overall user experience. Transition your subgraph to Subsquid and join innovative initiatives such as IceCream Swap, which are dedicated to creating a significantly improved web3 experience.
Subsquid Network is a decentralized query engine optimized for batch extraction of large volumes of data. It currently serves historical on-chain data ingested from 100+ EVM and Substrate networks, including event logs, transaction receipts, traces, and per-transaction state diffs.
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