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QuickNode > Case Studies > Oikos on QuickNode: Enhancing Transaction Speed and User Experience in DeFi
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Oikos on QuickNode: Enhancing Transaction Speed and User Experience in DeFi

Technology Category
  • Application Infrastructure & Middleware - Blockchain
  • Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
  • Cement
  • Construction & Infrastructure
Use Cases
  • Construction Management
  • Smart Contracts
Services
  • System Integration
  • Testing & Certification
The Challenge

Oikos, a DeFi application using Binance Smart Chain, aimed to bring the benefits of DeFi to Latin America and the world. The platform allows users to trade without liquidity limitations through Oikos-powered smart contracts. However, Oikos faced significant challenges when they migrated their platform from a different chain to Binance Smart Chain. They were using a self-hosting solution to connect to Binance Smart Chain, which led to data falling out of sync, nodes going down, and inconsistent information across different nodes. This negatively impacted the user experience, with trades taking up to 6 hours and in some cases, resulting 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.

About The Customer

Oikos is a startup DeFi exchange that aims to bring the benefits of DeFi to Latin America and the world. Through its decentralized exchange platform, Oikos enables crypto-native and unbanked users to trade without liquidity limitations using Oikos-powered smart contracts. These contracts touch a range of underlying assets, 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.

The Solution

After researching multiple infrastructure partners, Oikos switched to QuickNode. QuickNode’s product offering, which leverages multiple geographically distributed nodes across multiple clouds, was the fastest responding, lowest latency option Oikos found. They were able to test this upfront using QuickNode’s transparent speed comparison tool. The support across multiple chain types and the transparent, scalable pricing structure were other reasons influencing Oikos’ decision. They were able to set up QuickNode’s solution instantly to begin testing and integration. With QuickNode’s fast, always-on infrastructure, Oikos saw immediate improvements in latency. Transactions that previously took almost 6 hours to confirm were recorded within 2-3 minutes, a more than 100x improvement in transaction time. This significantly improved the overall customer experience and allowed Oikos to fully migrate from self-hosting nodes to a QuickNode powered infrastructure.

Operational Impact
  • The switch to QuickNode resulted in significant operational benefits for Oikos. The improved transaction time enhanced the overall customer experience, driving customer retention and potentially increasing trading volume. Furthermore, the migration to QuickNode's infrastructure freed up engineering and developer resources, allowing the team to focus more on developing their core product and delivering value for end-users. As Oikos’ founder, Manuel Corona, commented, 'We were so amazed by the increased performance. Before learning about QuickNode, 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.'

Quantitative Benefit
  • Transactions that previously took almost 6 hours to confirm were recorded within 2-3 minutes, a more than 100x improvement in transaction time.

  • Oikos was able to fully migrate from self-hosting nodes to a QuickNode powered infrastructure.

  • QuickNode’s product offering was the fastest responding, lowest latency option Oikos found.

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