How Flooz Saved 50% of Engineering Time Optimising Portfolio Tracking with Moralis

Introducing Flooz

In the emerging world of cryptocurrency, Flooz has distinguished itself as a leading innovator in market analytics and trading. With a user base comprising over 75,000 verified traders and managing an impressive $165 million in trading volume, the platform has solidified its standing in the decentralized exchange arena, particularly among alt-coin enthusiasts. Flooz’s offering extends beyond just trading; it offers a comprehensive ecosystem for tracking and managing digital asset portfolios in real-time. The platform’s support for an array of blockchain networks has made it very popular among altcoin fanatics and traders alike.

The journey of Flooz, however, was not without its challenges. In a domain where the only constant is rapid change, staying ahead of the curve was crucial. Flooz’s ambition to provide an unparalleled user experience and sophisticated analytical tools for digital asset management required a robust technological backbone, capable of handling the complex, fast-paced nature of blockchain transactions.

The Challenge

Flooz’s primary challenge lay in the realm of optimizing their portfolio tracking process and crafting a state-of-the-art indexing infrastructure for their social wallet and portfolio platform. The task at hand was difficult – processing raw blockchain logs at a speed that could support real-time, accurate portfolio management and user transactions. This undertaking was critical in maintaining the high standards of performance and reliability that Flooz’s users had come to expect.

The complexity of blockchain data, characterized by large volumes of ever changing transaction types, posed a significant hurdle. Every transaction, every token swap, and each smart contract interaction needed to be decoded and indexed quickly and accurately. In the absence of an efficient system, the platform risked falling behind in delivering timely insights and essential functionalities to its users.

Moralis’ Role

In their quest for a solution, Flooz turned to Moralis. Known for its powerful blockchain data processing and indexing capabilities, Moralis was ideally suited to assist Flooz in overcoming their technical challenges. While the core authentication and data storage were handled using Firebase, Firestore, and Google Cloud, Moralis played a very important role in the more complex aspects of data indexing and transaction decoding.

Moralis’ expertise in dealing with blockchain data, combined with its suite of APIs, offered Flooz the precision, speed, and scalability required to transform their data processing framework. This collaboration marked the beginning of a pivotal shift in how Flooz could handle and utilize blockchain data for their platform.

The Solution

The solution implemented by Moralis hinged on two critical aspects: efficient transaction decoding and a robust data indexing infrastructure. Moralis’ APIs enabled Flooz to swiftly interpret and categorize complex blockchain transactions. This capability was crucial in converting voluminous blockchain logs into meaningful, user-friendly information. The APIs facilitated not just the decoding of wallet interactions like token swaps and transfers, but also the nuanced understanding of smart contract dynamics.

Building the backbone of porfolio analytics required a dependable and dynamic indexing infrastructure. Moralis’ APIs provided Flooz with the tools necessary to develop a responsive and resilient system. This system ensured that users had access to the latest information, reflecting the real-time state of their investments and market movements.

Flooz utilized a few different Moralis APIs. First of all they used the Moralis Wallet API, which can be used to get information about a wallet’s current holdings as well as its complete transaction history. They also used the NFT API, for fetching information about NFTs such as metadata, images and prices, as well as the Token API for getting data about ERC20 tokens, including price. 

Impactful Results

The integration of Moralis’ technology into Flooz’s platform brought about transformative results. The immediate benefit was a dramatic 50% reduction in engineering time required for data processing tasks. This efficiency gain meant that Flooz could allocate more resources towards enhancing user experience and expanding their service offerings.

The ability to decode transactions rapidly and maintain an up-to-date indexing system had a ripple effect on the platform’s performance and reliability. Users experienced faster, more accurate portfolio updates, and insights, which in turn fostered trust and loyalty in the Flooz brand. The streamlined data processing capability provided by Moralis not only optimized operational workflows but also positioned Flooz as a leader in blockchain analytics, ready to scale and evolve with the ever-changing digital asset landscape.