|
|
| Line 1: |
Line 1: |
| ==Basics ==
| |
| * Based in:
| |
| *Founded in: [https://medium.com/gelato-network/announcing-the-gel-token-stewarding-gelato-into-a-sustainable-future-815c0ecedb8e 5-2019]
| |
| * [[Mainnet]] release: [https://twitter.com/gelatonetwork/status/1279013156585721856 3-7-2020]
| |
| * A tool for developers to automate [[smart contract]] executions on [[Ethereum]].
| |
| == History ==
| |
| * Started out as just Gelato which [https://blog.gnosis.pm/bots-on-ethereum-if-you-cant-beat-them-join-them-meet-gelato-774f01bec9d7 Allowed] (5-2-2020) users to create a personal bot that automatically interacts with different applications on [[Ethereum]].
| |
|
| |
|
| * From their [[Mainnet]] [https://medium.com/@gelatonetwork/ethereums-automation-protocol-gelato-network-launches-on-mainnet-88647aa10d65 announcement] (3-7-2020):
| |
| "''In February 2020 Gelato published its [https://blog.gnosis.pm/bots-on-ethereum-if-you-cant-beat-them-join-them-meet-gelato-774f01bec9d7 Alpha release]. The alpha hid away most of what Gelato actually is meant to be behind a Web Interface, which meanwhile has been deprecated. This early phase showcased how Gelato can be leveraged to equip end-users with their own IFTTT-like Ethereum bots that can execute arbitrary actions on their behalf, in just one or two transactions, without them needing to write a single line of code. For many users, this opened the door to a new kind of [[decentralized app]] usage — an automated, yet fully non-custodial one. However, underneath this simple UI a new smart contract protocol was hiding that now has been audited and deployed onto Ethereum Mainnet."''
| |
| == Audits & Exploits ==
| |
|
| |
| *[[Bug bounty]] program can be found [insert here].
| |
| *[https://github.com/gelatodigital/gelato-network/blob/master/docs/audits/G0Group-Gelato2020Jun.pdf Got audited] by G0 Group (17-6-2020).
| |
|
| |
| === Bugs/Exploits ===
| |
|
| |
| * [https://weekinethereum.substack.com/p/week-in-ethereum-news-december-18?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo0NTYyNTQ2MCwiXyI6IjBjVnVWIiwiaWF0IjoxNjM5OTc0NjI0LCJleHAiOjE2Mzk5NzgyMjQsImlzcyI6InB1Yi0xMDcxIiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.NXxhcbhxqHwL From] [[Week In Ethereum|Week in Ethereum]] (18-12-2021):
| |
|
| |
| ''"Gelato G-UNI Router [https://twitter.com/gelatonetwork/status/1469813838916866050 vulnerability], $26 million secured with no funds lost, alerted by [[samczsun]], revoke approvals given to vulnerable contract."''
| |
|
| |
| == Governance ==
| |
| === Admin Keys ===
| |
| === DAO ===
| |
|
| |
| * From their [https://medium.com/gelato-network/announcing-the-gel-token-stewarding-gelato-into-a-sustainable-future-815c0ecedb8e blog] (6-5-2021):
| |
|
| |
| ''"All token holders will be able to have a say in the future direction of the protocol via voting on proposals in the Gelato [[Decentralised Autonomous Organisation (DAO)|DAO]]. The goal is that in the long run, developers that use Gelato to automate their smart contracts functions will govern over the protocol in order to determine the “rules” by which the Executor bots that serve the network have to adhere by. Decisions include setting fees for Executors, deciding on developer incentive schemes, and enforcing that Executors always execute transactions in the best interest of the end-user."''
| |
|
| |
| == Token ==
| |
| === Launch ===
| |
| === Token allocation ===
| |
| === Utility ===
| |
|
| |
| * Governance, [[Proof-of-Stake (PoS)|staking]] & [[slashing]] ([https://medium.com/gelato-network/announcing-the-gel-token-stewarding-gelato-into-a-sustainable-future-815c0ecedb8e 6-5-2021])
| |
|
| |
| === Token Details ===
| |
| === Stablecoin ===
| |
| == Coin Distribution ==
| |
| == Tech ==
| |
|
| |
| * [[Whitepaper]] can be found [insert here].
| |
| * Code can be viewed [https://github.com/gelatodigital/gelato-network here] (11-7-2020).
| |
|
| |
| === Implementations ===
| |
|
| |
| * Built on: [[Ethereum]], and will [https://medium.com/gelato-network/announcing-the-gel-token-stewarding-gelato-into-a-sustainable-future-815c0ecedb8e expend] to [[Polygon (MATIC)|Polygon]], [[Binance|BSC]] 'and more' (6-5-2021).
| |
|
| |
| * [https://cointelegraph.com/news/gelato-raises-11m-from-heavyweight-backers-for-web-3-automation From] [[CoinTelegraph|Cointelegraph]] (8-10-2021):
| |
|
| |
| ''"The Gelato Network currently supports smart contracts on Ethereum, Polygon and [[Fantom (FTM)|Fantom]] and will add additional support for Binance Smart Chain, [[Arbitrum]], [[Optimism]] and [[Avalanche (AVAX)|Avalanche]].''
| |
|
| |
| === How it works ===
| |
|
| |
| * [https://cointelegraph.com/news/gelato-raises-11m-from-heavyweight-backers-for-web-3-automation From] [[CoinTelegraph|Cointelegraph]] (8-10-2021):
| |
|
| |
| ''"Gelato automates Ethereum smart contract operations by using what it calls “arbitrary logic” and bots. Its most prominent use case is addressing [[liquidity]] and volatility issues with cryptocurrency trading. The protocol can protect traders from severe losses by automatically rebalancing portfolios and executing trades on their behalf. Third-party servers and systems are required to monitor smart contracts and conditions for their execution. Gelato does away with the intermediaries by using a [[decentralized]] network of bots to carry out these operations, simplifying decentralized finance ([[Decentralized Finance (DeFi)|DeFi]]) for end-users."''
| |
|
| |
| === Fees ===
| |
| === Upgrades ===
| |
|
| |
| *[https://ethhub.substack.com/p/ethhub-weekly-162?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozNTMxMjg5NSwiXyI6IkNDcGZjIiwiaWF0IjoxNjE4ODg2Mzg1LCJleHAiOjE2MTg4ODk5ODUsImlzcyI6InB1Yi0zOTEwIiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.exVvPyhMi1kDUFO3yV80-GzK2GBUopjGgbd4 From] [[EthHub]] (20-4-2021):
| |
|
| |
| ''"[https://medium.com/gelato-network/introducing-gelato-v2-the-most-reliable-way-to-automate-your-ethereum-smart-contracts-73cd0010599e Gelato v2] is a major upgrade for the platform with features that make developers lives easier."''
| |
| === Staking ===
| |
|
| |
| * From their [https://medium.com/gelato-network/announcing-the-gel-token-stewarding-gelato-into-a-sustainable-future-815c0ecedb8e blog] (6-5-2021):
| |
|
| |
| ''"For Executor bots, in order to be able to participate in executing [[Transaction (Tx)|transactions]] in the Gelato Network and thus earning rewards from doing so, they will need to acquire & [[Proof-of-Stake (PoS)|stake]] $GEL. Staking will allow executors to earn the ability to reserve “slots’’ which give them the exclusive right to earn fees from executing transactions in a certain period of time.''
| |
|
| |
| ''Potentially [[slashing]] the stake of Executors bots will serve the purpose of disincentivizing bad behavior, such as censoring or [[Frontrunners|front running]] transactions, making such actions uneconomical. The Gelato DAO will have the power to enforce these decisions and the obligation to monitor the behavior of Executors. Executors will become more accountable for their actions which will enable us to further [[Decentralized|decentralize]] who can run these Nodes as well as providing some interesting future functionalities such as executing transactions based on [[Off Chain|off-chain]] conditions."''
| |
|
| |
| === Interoperability ===
| |
| === Other Details ===
| |
| == Oracle Method ==
| |
| == Privacy Method ==
| |
| == Their Other Projects ==
| |
| == Roadmap ==
| |
| * Can be found [Insert link here].
| |
|
| |
| == Usage ==
| |
|
| |
| * Has been securing and automatically managing positions worth over [https://medium.com/gelato-network/announcing-the-gel-token-stewarding-gelato-into-a-sustainable-future-815c0ecedb8e $180M] (6-5-2021).
| |
|
| |
| === Projects that use or built on it ===
| |
|
| |
| * [https://cointelegraph.com/news/gelato-raises-11m-from-heavyweight-backers-for-web-3-automation From] [[CoinTelegraph|Cointelegraph]] (8-10-2021):
| |
|
| |
| ''"The Gelato Network currently supports smart contracts on [[Ethereum (ETH)|Ethereum]], [[Polygon (MATIC)|Polygon]] and [[Fantom (FTM)|Fantom]] and will add additional support for [[Binance|Binance Smart Chain]], [[Arbitrum]], [[Optimism]] and [[Avalanche (AVAX)|Avalanche]]. Several projects are already using the system to automate contracts, including [[Maker DAO|MakerDAO]], [[InstaDapp (INST)|Instadapp]], [[B.Protocol (BPRO)|B Protocol]] and [[QuickSwap (QUICK)|QuickSwap]].''
| |
|
| |
| ''In June, Gelato [https://cointelegraph.com/news/gelato-network-launches-g-uni-uniswap-v3-management-token introduced] an automated liquidity manager for [[Uniswap (UNI)|Uniswap]] called G-UNI, which combined the capital efficiency of Uniswap v3 with the user experience of v2.''
| |
|
| |
| ''In August, Gelato [https://cointelegraph.com/news/smart-contract-automator-gelato-brings-liquidity-management-to-zerion integrated] with DeFi aggregator [[Zerion]] to improve liquidity management for its users. This enabled Zerion’s 200,000 or so active monthly users to have their Uniswap v3 positions managed automatically."''
| |
|
| |
| == Competition ==
| |
| == Pros and Cons ==
| |
| === Pros ===
| |
| === Cons ===
| |
| == Team, Funding, Partners ==
| |
| === Team ===
| |
| * Full team can be found [here].
| |
| *[[Hilmar Orth]]; co-founder
| |
| * Comes from [[Gnosis]].
| |
| === Funding ===
| |
|
| |
| * Got a [https://medium.com/metacartel/metacartel-2020-recap-1980524ad8da grant] in 2020 from [[MetaCartel DAO|MetaCartel]] (4-4-2021).
| |
| *[https://cointelegraph.com/news/gelato-raises-11m-from-heavyweight-backers-for-web-3-automation From] [[CoinTelegraph|Cointelegraph]] (8-10-2021):
| |
|
| |
| ''"Gelato has raised $11 million in a Series A funding round led by [[Dragonfly Capital Partners|Dragonfly Capital]] and with participation from [[ParaFi Capital]], Nascent, [[IDEO|IDEO CoLab Ventures]] and [[Aave (AAVE)|Aave]] founder [[Stani Kulechov]]. The funds were raised through a closed-door token sale and will go toward onboarding more blockchains to the network and increasing its staff from the current team of 15."''
| |
|
| |
| === Partners ===
| |
| [[Category:Companies/Organisations]] | | [[Category:Companies/Organisations]] |
