[PRESS RELEASE – Calgary, Canada, July 12th, 2023]
Portals, the leading yield and protocol aggregator for DeFi, is proud to announce the launch of Milky Way, a major architecture upgrade that enables one-click gasless access to any-to-any swaps across a wide range of ERC20 tokens. With Milky Way, users and developers can enjoy a seamless, cost-effective, and user-friendly trading and building experience in the DeFi space.
Milky Way consists of three innovative components: Galaxy Broadcasting System (GBS), Galaxy Hub, and Galaxy Indexer. GBS is a service that handles the on-chain order submission process on behalf of users, abstracting the complexities of gas and gas prices from their wallets. Users can sign an order with the intent to swap any token and let GBS take care of the rest. GBS also ensures fast and reliable execution, minimizing any waiting times.
Galaxy Hub is an aggregator that provides optimal routing solutions for any ERC20 token, including LP tokens, vaults, interest-bearing tokens, and more. Users can swap any token pair directly with a single transaction without the need for intermediate steps. Moreover, Galaxy Hub caps the swapping fees at a maximum of $60, regardless of the swapping amount.
Developers can also benefit from Galaxy Hub’s robust routing capabilities, as they no longer need to manage multiple integrations for each platform. Its in-house routing algorithm, “Warpdrive,” empowers developers to assemble arbitrary routes among tokens, facilitating versatile token swaps.
Galaxy Indexer is a service that functions in real-time, continuously consuming blocks to determine crucial data such as asset prices, reserves, volumes, APYs, balances, and more. By utilizing the Galaxy Indexer, DApps can enjoy faster response times and benefit from consolidated endpoints that provide Web3 across the most popular networks. Developers can leverage the Galaxy Indexer’s capabilities to enhance their applications, with coverage of over 35,000 tokens.
As the Portals ecosystem expands, the Galaxy Indexer plays a vital role in accommodating a growing number of Satellites. These Satellites represent various platforms and contribute to the increasing complexity and breadth of order types that can be seamlessly handled. Currently, Portals has launched over 40 Satellites across seven networks, including Ethereum, Polygon, Avalanche, BNB Chain, Fantom, Optimism, and Arbitrum. Additionally, in the coming months, Portals will invite the community to launch their own Satellites, further enriching the Portals ecosystem.
About Portals
Portals is a game-changing DeFi API platform, enabling users and developers to access various DeFi protocols and platforms with ease. With powerful integrations from industry leaders like Yearn Finance, XDEFI, and Mean Finance, Portals sets the stage for unparalleled financial opportunities. Backed by a remarkable $2M seed round, Portals has experienced explosive growth, processing a staggering 8 million API calls in June, a tremendous leap from 1.3 million in February. The recent addition of a visionary Head of Marketing further underscores Portals’ unwavering commitment to innovation and progress.
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