What is the best way to get the USD price of a token

[rafaelfaria]

What is the best way to know the USD price of the token?

Right now I feel I am overcomplicating things.

1. First I get the number of tokens I get from the transaction
2. I divide what I paid in BNB by the number of tokens I received, to find out what is the price in BNB per token
3. Then I get the price of the BNB from the Binance API
4. THen I multiply the price of BNB for the price per token vs the number of tokens.

I was wondering. is there a better way to do this? :)

[rafaelfaria]

up :)

[htadashi]

Hi @rafaelfaria, it seems that you are calculating the USD price of a token within a PancakeSwap-like pool. I think what you did is a suitable way to calculate it since you are getting the real execution price of the trade. However, keep in mind that the price obtained may be different from the "real" market price in a CEX, since the price of a pool could be easily manipulated if it has low liquidity. This video should give you more insights about it.

P.S.: I think this type of question would be better suited (and more promptly answered) in Ethereum Stack Exchange since it is not related to ethers.js :)

[rafaelfaria]

Thanks @htadashi

Makes sense, I totally understand the difference between DEX and CEX because of their liquidity.

I will check on ESE. The only reason i asked here was that I thought we could use ethers.js to somehow calculate the price.

Thanks