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Monitoring UniswapV3Factory Pool Creations

In this tutorial, we’ll show you how to set up a Tenderly Web3 Action to monitor new pool creations in the UniswapV3Factory contract and perform automated actions. This project demonstrates how to use Web3 Actions to interact with smart contracts and Tenderly’s features to create a custom monitoring system.

UniswapV3Factory monitoring Web3 Action template

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Project Overview

The purpose of this project is to set up a system that monitors new pool creations in the UniswapV3Factory contract and performs automated actions when specific conditions are met. Here’s a quick breakdown of the project’s flow:
  1. The Web3 Action listens for PoolCreated events from the UniswapV3Factory contract on the Ethereum mainnet.
  2. When an event is detected, it extracts the new pool’s address from the event data.
  3. The action adds the new pool contract to your Tenderly project and tags it for easier management.

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Prerequisites

Before you begin, make sure you have the following:

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Setup

Let’s go through the steps to set up your UniswapV3Factory Monitoring system:
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Create a New Tenderly Project
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If you haven’t already, create a new project in your Tenderly dashboard or use an existing one.
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Create an Alert in Tenderly
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  • Log into your Tenderly Dashboard
  • Navigate to your project
  • Go to the Alerts tab and click on New Alert
  • Set the Alert Type to Event Emitted
  • Configure the alert:
    • Contract Address: 0x1f98431c8ad98523631ae4a59f267346ea31f984 (UniswapV3Factory contract)
    • Event Signature: PoolCreated(address,address,uint24,int24,address)
    • Name your alert appropriately for easy reference
  • Save the alert and note down the id of an alert for later use
    • 5
    Initialize Web3 Action Project
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    Open a terminal and run the following command to initialize a new Web3 Actions project:
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    tenderly actions init
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    Select your Tenderly project when prompted and choose a directory name for your actions.
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    Configure tenderly.yaml
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    Update the tenderly.yaml file with the following configuration:
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    account_id: "<YOUR_ACCOUNT_ID>"
actions:
  <YOUR_ACCOUNT_ID>/<YOUR_PROJECT_SLUG>:
    runtime: v2
    sources: actions
    specs:
      uniswapV3:
        description: "Monitoring UniswapV3 Factory Contract and adding Child/Pool to Contracts page with proper tag"
        function: uniswapV3Monitoring:actionFn
        trigger:
          type: alert
          alert: { <ALERT_ID> }
        execution_type: parallel
project_slug: "<YOUR_PROJECT_SLUG>"
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    Replace <YOUR_ACCOUNT_ID>, <YOUR_PROJECT_SLUG>, and <ALERT_ID> with your actual Tenderly Account Name, Project Slug, and the Alert ID you noted earlier.
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    Set Up Secrets
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    Add the following secret to your Tenderly project settings:
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  • ACCESS-KEY: Your Tenderly API access key
    • 16
    To add secrets, go to your Tenderly project settings and navigate to the “Secrets” section.
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    Implement the Web3 Action
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    Create a new file in your actions directory named uniswapV3Monitoring.ts and implement your Web3 Action logic as follows:
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    const ethers = require('ethers');

const actionFn = async (context: Context, alertEvent: AlertEvent) => {
  const key = await context.secrets.get('ACCESS-KEY');

  const accountSlug = '<YOUR_ACCOUNT_ID>';
  const projectSlug = '<YOUR_PROJECT_SLUG>';
  const tagName = 'pool';

  const tenderly = new Tenderly({
    accountName: accountSlug,
    projectName: projectSlug,
    accessKey: key,
    network: Number(alertEvent.network),
  });

  const poolCreatedSignature = ethers.utils.id("PoolCreated(address,address,uint24,int24,address)");

  let poolAddress = "";
  for (const log of alertEvent.logs) {
    if (log.topics[0] === poolCreatedSignature) {
      const data = log.data;
      const addressHex = data.substring(data.length - 40);
      poolAddress = ethers.utils.getAddress('0x' + addressHex).toLowerCase();
      break;
    }
  }

  try {
    await tenderly.contracts.add(poolAddress, {
      displayName: 'Pool'
    });
    await tenderly.contracts.update(poolAddress, { appendTags: [tagName] });
    console.log(`Pool contract is: ${poolAddress}, and has been added with tag ${tagName}`);
  } catch (error) {
    console.error('Error adding contract:', error);
  }
};

module.exports = { actionFn };
    20
    Make sure to replace <YOUR_ACCOUNT_ID> and <YOUR_PROJECT_SLUG> with your actual Tenderly Account Name and Project Slug.
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    Deployment
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    To deploy your Web3 Action, use the Tenderly CLI:
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    tenderly actions deploy
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    This command will deploy the action defined in your tenderly.yaml file.

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    How it Works

    The Web3 Action you’ve set up will automatically trigger whenever the PoolCreated event is emitted by the UniswapV3Factory contract. Here’s a breakdown of the actionFn function:
    1. Retreive the ACCESS-KEY secret from the Tenderly context.
    2. Initialize a new Tenderly SDK instance with your account and project details.
    3. Define the PoolCreated event signature using ethers.js.
    4. Loop through the event logs to find the PoolCreated event and extracts the new pool’s address.
    5. Using the Tenderly SDK, add the new pool contract to your Tenderly project with the display name Pool.
    6. Tag the new pool contract with the pool tag for easier management.
    7. Log the pool address and confirmation of the tagging process.
    This implementation automatically adds new Uniswap V3 pools to your Tenderly project and tags them, making it easier to monitor and manage these contracts.

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    Customization

    To modify the behavior of your Web3 Action:
    1. Edit the actionFn in the uniswapV3Monitoring.ts file.
    2. You can change the tagName variable to use a different tag for the pools.
    3. Add additional logic to process more information from the event or perform other actions with the Tenderly SDK.
    For example, to add more detailed logging: 
    console.log(`New pool created: ${poolAddress}`);
console.log(`Network: ${alertEvent.network}`);
console.log(`Transaction hash: ${alertEvent.hash}`);

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    Monitoring and Troubleshooting

    To ensure your Web3 Action is working correctly:
    • Monitor your Web3 Action executions in the Tenderly dashboard
    • Check the Tenderly logs for any error messages or execution details
    • Use Tenderly’s debugging tools to inspect transaction details and contract interactions
    • Check your Tenderly project’s Contracts page to see the newly added and tagged pool contracts
    This setup is specifically designed to monitor the UniswapV3Factory contract on the Ethereum mainnet.

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    Conclusion

    You’ve now set up a custom monitoring system using Tenderly Web3 Actions to track new pool creations in the UniswapV3Factory contract. This project demonstrates how to interact with smart contracts, use Tenderly’s SDK, and create an automated system for monitoring and responding to specific blockchain events. For more information on Uniswap V3 and its contracts, refer to the Uniswap V3 documentation.