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Context

I'm developing a personal project to monitor token balances of all wallet addresses in my service . I can monitor token balances of several addresses by multicall. I designed my workflow of balance scanning something like this:

  • Cron-job every 24 hours to fetch all new token balances of all wallet addresses
  • If anyone requests to get balances, I will get it from redis || database -> cache in redis expire 30m and return.
  • Cron-job every 30m, to fetch all new token balances of all requested addresses recently

Problem

What problem I am facing is: the EVM RPC URL blocked me. Of course I'm using free endpoints, and I intend to upgrade to the payment plan. But does my workflow cost too many requests? I expect to serve ~ 200.000 wallet addresses, with ~ 5000 token addresses on 5 chains.

My questions

What is the best way to monitor token balances?

  • Scan every single tx, get tracing data of it and analyze by back-side code?
  • Scan by cronjob like above?
  • Use 3rd party API?

Which ways to save cost and fast return?

1 Answer 1

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If I understand your query properly, you want to show balance of multiple Tokens in individual wallet address. If this is your question then as a solution you can use Ether-scan or other blockchain API's or we can do this using web3 JS or Ether JS. If it is not your query then explain more.

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  • I want to show a wallet address's net worth as fast as when it logins into my service. 3rd party API can be a good solution, but because I want to save the cost and keep the balance mostly real-time (delay ~ 10ph). So I'm finding another solution to update the balance and handle it with my database.
    – CT95
    Apr 11 at 1:35

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