How to Get Live Token Prices Using the Uniswap API

Learn how to effectively utilize the Uniswap API to retrieve real-time token prices and avoid common pitfalls in implementation. --- This video is based on the question https://stackoverflow.com/q/65644940/ asked by the user 'Dude' ( https://stackoverflow.com/u/14912911/ ) and on the answer https://stackoverflow.com/a/71086033/ provided by the user 'CryptoFool' ( https://stackoverflow.com/u/7631480/ ) at 'Stack Overflow' website. Thanks to these great users and Stackexchange community for their contributions. Visit these links for original content and any more details, such as alternate solutions, latest updates/developments on topic, comments, revision history etc. For example, the original title of the Question was: How to get token prices with UNISWAP API Also, Content (except music) licensed under CC BY-SA https://meta.stackexchange.com/help/licensing The original Question post is licensed under the 'CC BY-SA 4.0' ( https://creativecommons.org/licenses/by-sa/4.0/ ) license, and the original Answer post is licensed under the 'CC BY-SA 4.0' ( https://creativecommons.org/licenses/by-sa/4.0/ ) license. If anything seems off to you, please feel free to write me at vlogize [AT] gmail [DOT] com. --- How to Get Live Token Prices Using the Uniswap API Working with decentralized finance (DeFi) can be an exciting yet challenging endeavor, especially when you're trying to keep track of live token prices. If you're using the Uniswap API with Python but are struggling to get accurate token values, you’re not alone. In this guide, we'll break down how to resolve issues with fetching token prices and ensure you're getting the right values from the Uniswap API. Understanding the Problem You may encounter discrepancies in the token price outputs when using various functions from the Uniswap API. A user tried leveraging the API to get live DAI token prices but ended up with values that did not seem correct. Here's an overview of what they experienced: They executed multiple functions from the Uniswap API. The results they obtained were far from the expected prices, leading to confusion about the accuracy of the data. Here’s a snippet of the code they used: [[See Video to Reveal this Text or Code Snippet]] Their results were unexpected long integers instead of a straightforward token price. The Solution The good news is that fixing this issue is relatively straightforward! The key is to ensure that you are manipulating the values returned by the API functions properly. The outputs need to be normalized relative to the amounts you're using in your queries. Step-by-Step Fix To retrieve the token prices correctly, you can divide the return values from the API by the input amount (5 * 10^18 in this case), effectively translating the raw values into usable price figures. Here’s the revised code that simplifies understanding the outputs: [[See Video to Reveal this Text or Code Snippet]] Explanation of Code Adjustments Normalization: By dividing the API return values by the input amount, you're effectively converting the result from 'wei' (the smallest denomination of Ether) into a more digestible format—such as the actual price of DAI in ETH or vice versa. Greater Clarity: This division provides a clearer view of what you’re trading or receiving. Conclusion Using the Uniswap API to get live token prices can be very effective if done correctly. By following the simple adjustments highlighted above, you'll ensure that you get accurate and real-time values for token prices, rather than uninterpretative integers. Whether you're building new tools around DeFi or simply trying to monitor your investments, understanding how to properly leverage these APIs is crucial for your success. Don't hesitate to revisit and refine your implementation as you learn more about how the Uniswap API operates! If you encounter further issues, feel free to explore additional documentation on Uniswap or engage with community discussions for more insights. Happy coding!