QuickNode powers startup DeFi exchange using Binance Smart Chain
QuickNode powers infrastructure for the entire spectrum of companies building on blockchain which includes cutting edge applications in Decentralized Finance, or DeFi. Supporting chains from Ethereum and Bitcoin, to newer chains that offer lower transaction fees like Binance Smart Chain, Polygon, xDai and Optimism, QuickNode gives developers access to blazing fast infrastructure with multiple options. And as builders in DeFi know, speed matters: improvements in responsiveness enables faster trading, drives volume, and increases customer retention - directly improving the bottom line. Learn how QuickNode supports Oikos, a DeFi application using Binance Smart Chain, to help drive growth.
Oikos seeks to bring the benefits of DeFi to first to Latin America and then the world, giving people the power to control their economic future. Every day, through Oikos decentralized exchange platform, crypto-native and unbanked users can use Oikos-powered smart contracts to trade without liquidity limitations. And those contracts touch a range of underlying assets, ranging from fiat and crypto currencies, to commodities and stocks.
Oikos migrated their platform from a different chain to Binance Smart Chain, a popular cryptocurrency in the DeFi community, which saw significant growth. Oikos developers were facing multiple challenges with a self-hosting solution to connect to Binance Smart Chain: data falling out of sync, nodes were going down, and frequently information across different nodes was not up to date. This all had an impact on the underlying user experience: trades could take up to 6 hours, and in some cases resulted in lost customers. To be successful, Oikos realized they needed a reliable connection to Binance Smart chain, and a node service that could keep up.
QuickNode supports the major chains that leading DeFi players want:
After doing research on multiple infrastructure partners, Oikos made the switch to QuickNode. QuickNode’s product offering, leveraging multiple geographically distributed nodes across multiple clouds, was the fastest responding, lowest latency option Oikos came across - something they were able to test upfront, using QuickNode’s transparent speed comparison tool ( https://www.quicknode.com/compare ) The support across multiple chain types and the transparent, scalable pricing structure were other reasons influencing Oikos’ decision, and they were able to get set up using QuickNode’s solution instantly to begin testing and integration. With QuickNode’s lighting fast, always-on infrastructure, Oikos was able to see immediate improvements in latency across the board. Some transactions, which took almost 6 hours to confirm, were recorded within 2-3 minutes, a more than 100x improvement in transaction time. Overall customer experience improved significantly. With these results, Oikos was able to fully migrate from self-hosting nodes to a QuickNode powered infrastructure, allowing them to spend more of their time developing their core product, which further freed up engineering and developer resources and allowed the team to focus on delivering value for end-users. As Oikos’ founder, Manuel Corona, commented, “We were so amazed by the increased performance. Before learning about QuikNode, we used to manage our node in-house. It quickly became evident that it is not feasible. To be honest, moving to QuickNode was one of the best decisions we ever made.”
QuickNode supports the major chains that leading DeFi players wantGet in touch with us
“QuickNode has been amazing for us, and has been a cornerstone of our exponential growth. The response time and the information speed - specifically for our traders - has been nothing short of amazing.