Here. We. Go.
We are excited to unveil DeFi SDK, an open-source system of smart contracts that makes integrating protocols easier
— Zerion (@zerion_io) April 21, 2020
DeFi SDK is an open-source system of smart contracts designed for precise accounting across multiple protocols and dApps. This makes it easier for teams to integrate on-chain data and reduce the inefficiencies surrounding DeFi accounting. In short, DeFi SDK aides in limiting fragmentation across various DeFi products by providing tools to quickly plug in the top players and all their relevant protocol & token data.
The DeFi SDK supports virtually all of the top protocols, including sector leaders like Aave, Compound, dYdX, Synthetix, Set Protocol and Uniswap just to name a few. The rest of the supported platforms (and which there are many) can be found on GitHub.
DeFi SDK comes equipped with a number of value-added tools including:
Token adapters are a suite of smart contracts that use on-chain data to make sense of complex ERC20 tokens like TokenSets, Unipool tokens and cTokens. Using an example like Unipool cDAI tokens, we’re dealing with an asset that contains two unique wrappers, all of which ultimately boil down to ETH and DAI as the underlying makeup.
With DeFi SDK, developers can call functions to view the makeup of these derivative tokens (in this case ETH and DAI) and derive a real-time dollar value. Better yet, token adapters can be used to “unwrap” tokens and return their underlying components. In the case of cTokens like cDAI, the adapter can fetch the underlying token (DAI) and return it to the user’s wallet.
Outside of platform-specific tokens, many DeFi projects bake in user-specific parameters like debt and deposit balances. With protocol adapters, these balances can be quickly referenced on-chain – painting a more holistic picture of a user’s positions across various DeFi products.
Thanks to an Adapter Registry, anyone who integrates the SDK benefits from a list of all protocol and token adapters which are supported. Best of all, the registry will automatically update, meaning developers also benefit from any new protocols and tokens added in the future.
Who’s Using It?
So far, DeFi SDK was used to create DeFi Market Cap – a unique leaderboard displaying the top programmable DeFi tokens by market cap. You may have seen it featured on Bloomberg, CoinTelegraph, and the DailyHODL since launch!
We are live
— DeFi Market Cap (@defimarketcap) April 13, 2020
Similarly, the DeFi SDK is being supported by Zerion, MyDeFi and Frontier, and will soon make it’s way to projects like Rainbow and Gnosis.
Any project can easily be added to the Adapter registry, with a suite of instructions on how to do so posted here.
The explosion of DeFi has led to so many projects and protocols that it can be hard to keep track. Zerion is already addressing a major pain point for users by providing an easy-to-use interface that tracks positions across top DeFi protocols. With the launch of DeFi SDK, they are now helping other projects do the same – ultimately aiding in transparency, efficiency, and composability.
Overall, simple and efficient developer tools are one of the main drivers behind growth and adoption for decentralized platforms like Ethereum. Providing an open-source SDK for DeFi developers is a hugely positive move for both Zerion and the DeFi space as a whole. As a result, it’ll be quite exciting to see the projects that emerge by using DeFi SDK as a backbone.
To keep up on all things Zerion, we recommend following the project via their official social channels:
If you’re a developer and eager to get started with DeFi SDK today, check out the Github repo here.