ERC20 Token with TokenGateway

[alexg]

Hey Alex,

I just found this ETH & ERC20 Token JSON RPC API service https://tokengateway.io

Is there a way we can integrate this to create an adapter for ERC20 tokens?

[vorticism]

Good find~ 🙂
But the price seems pretty expensive.
https://tokengateway.io/pricing

[alexg]

Thank you for reporting this. It looks interesting.

I will need to review this more extensively before I can determine if it can actually be helpful.

If so, this will require a new coin adapter to be developed.

with regards

[alexg]

Hey Vorticism,

Which project are you currently working on built on the dashed-slug plugin & extensions? I have been seeing you for quite a while now here on this forum.

[vorticism]

Hello jongydeleon1
I have a faucet service based on my wallet. I do not have any revenue yet, but I am affectionate and interested in running this service.
We also use exchange extensions.
Our service is not available outside of Korea. 🙂

[Anonymous]

Hello
You should consider creating the adapter using this service despite its high fees cost…
This way the plugins will provide a full system. It is really a downside now that we cannot support any erc20 tokens.
We love your work anyway, Alex.. Great continuous improvements.

[alexg]

Thanks. The problem is not how to integrate with an API, but how to program the asymmetry between deposit fees and withdrawal fees. With ERC20, typically exchanges bring forward the cost of withdrawal to the deposit. If I ever find the time to do something similar, I will probably do it by interfacing directly to a local eth wallet, not a third party service. My original intent with this plugin is to let people use their own wallets, and the third party services are there only as a convenience for everyone else. But at this time I do not have the time to work on this.

[Anonymous]

Actually not really… Unless I misunderstood the point mentioned in your comment.
We had a Peatio based exchange, and we never had that issue. I mean there was no need to deduct the withdrawal fee from the deposits. This is a fact.
We used both a stand-alone wallet and a third party service: Bitgo . The stand-alone was for the erc20 tokens that are not supported by Bitgo.
There is a fee deducted from the wallet for creating a new erc20 address to users. This is solved by having ETH balance in the stand-alone wallet.
Regards…

[alexg]

@cryptoshade Thank you! I had not thought about this, you can charge for a deposit address from the user’s ETH balance. Then this ETH can pay for the gas that you need to transfer to the centralized site address that holds all the eth/tokens. This makes sense. I just need to figure out a way to charge for new deposit addresses if needed. And to determine how much eth to charge for the gas. And this has to be extendable enough to be applicable to other chains as well. This is still a huge task but what you are suggesting is a good direction.

(Again, to anyone waiting for this, do not hold your breath. This will NOT happen soon. It is a huge change to the plugin architecture.)

with regards

[Author]

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