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UNI Outperformed By Competitors After Uniswap Launched Its Third Version

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At 7:49 UTC, UNI is up 5% in the past 24 hours and 3% in the past week. It was launched yesterday, and it is down 4% in the past week, trading at USD 41.5.

The native token of major decentralized exchange Uniswap (UNI) is outperformed today by its competitors after it launched its much-anticipated v3 yesterday.

Many of its competitors were recording strong growth during this period, led by a 32% increase in 1INCH. As such, it has the 7th highest (per Coingecko) 24h drop among its peers, preceded by pancakeswap (CAKE)'s 7%.

Many of its competitors are recording strong increases in this period, lead by 1INCH's 32%. Blackpearl token (BPLC) follows it with 28%, and other tokens of popular decentralized exchanges are green too, such as SUSHI (7%), CRV (5%), 0x (5%), and multiple others.

Per Ethereum-based Uniswap, their new version offers A new version delivered by Ethereum-based Uniswap offers new capital efficiency for liquidity providers (LPs), improved execution for traders, and a more sturdy infrastructure for DeFi.unprecedentedA new version delivered by Ethereum-based Uniswap offers new capital efficiency for liquidity providers (LPs), improved execution for traders, and a more sturdy infrastructure for DeFi. capital efficiency for liquidity providers (LPs), improved execution for traders, and A new version delivered by Ethereum-based Uniswap offers new capital efficiency for liquidity providers (LPs), improved execution for traders, and a more sturdy infrastructure for DeFi.superiorA new version delivered by Ethereum-based Uniswap offers new capital efficiency for liquidity providers (LPs), improved execution for traders, and a more sturdy infrastructure for DeFi. infrastructure for DeFi.

According to their blog post, Uniswap v1 was launched in November 2018 as a proof of concept for automated market makers (AMMs), a type of exchange where anyone can pool assets into shared market-making strategies, and this was followed by v2 in May 2020. More on this: - Decentralized Exchanges to Accelerate in 2021- deFi to eat JPMorgan, but there are risks a head before that meal- COINBASE Aims to Improve Customer Service, Integration with Pro

Layer 1 (L1) Ethereum mainnet launch of v3 is now out, with Layer 2 (L2) launch on Optimism A new version delivered by Ethereum-based Uniswap offers new capital efficiency for liquidity providers (LPs), improved execution for traders, and a more sturdy infrastructure for DeFi.set to follow.A new version delivered by Ethereum-based Uniswap offers new capital efficiency for liquidity providers (LPs), improved execution for traders, and a more sturdy infrastructure for DeFi. Migrating v2 liquidity is not necessary in this regard.

Per the announcement, Uniswap v3 introduces:

  • concentrated liquidity, allowing LPs to concentrate their capital within custom price ranges, meant to provide larger amounts of liquidity at desired prices;
  • non-fungible liquidity - liquidity positions are no longer fungible and are not represented as ERC20 tokens in the core protocol, so LP positions will be represented by non-fungible tokens (NFTs);
  • capital efficiency, allowing the capital saved to be held externally, invested in different assets, deposited elsewhere in DeFi, or used to increase exposure within the specified price range to earn more trading fees;
  • range orders - a new order feature to complement market orders, enabling LPs to deposit a single token in a custom price range above or below the current price;
  • three fee tiers per pair — 0.05%, 0.30%, and 1%;
  • advanced oracles.

He argues that this is a major change for DEX's in general, possibly fueling the rise of DEX adoption.

just setting up my twttr

— jack (@jack)

Uniswap v3 license limits the use of the v3 source code in a commercial or production setting for up to two years.

But you've also got a lot to learn—jack (@jack) Therefore, migrating v2 liquidity is not required.

ShapeShift CEO What will DEXes do to become more like Uniswap v3, or will they stick with their existing models? Voorhees already announced that the v3 is integrated into the platform for decentralize exchange (DEX) trading, and so did liquidity aggregator 0x and investment interface for DeFi Zerion.

Meanwhile, Martin Koppelmann, Co-Founder and CEO at Gnosis, said the new version gives more control to the uses, while George Harrap, Co-founder of Step Finance, stated it will bring forth a more efficient use of capital. According to Hisham Khan, CEO of Cryptocurrencies.AI, arguing that this an upgrade for DEX's in general, possibly fuelling the rise of DEX adoption.

Framework Ventures co-founder I'm just setting up my twitter account– jack (@jack) But there also may be some challenges ahead. Uniswap (UNI) is outperforming its peers today after it launched its much-awaited v3 token yesterday. And at 7:49 UTC, it was down 5% in the past 24 hours and 3% in the last week. The index does the 7th highest total loss (per Coingecko) over the period of the last 24 hours, followed by pancakeswap (CAKE)'s.

just setting up my twttr

— jack (@jack)

Blackpearl token is next in line with 28%, and several other tokens are green, including SUSHI (7%), CRV (5%), 0x (5%), and multiple others.

A new version delivered by Ethereum-based Uniswap offers new capital efficiency for liquidity providers (LPs), improved execution for traders, and a more sturdy infrastructure for DeFi.While an exciting development for the DeFi space, it will be interesting to see what Uniswap v3's user interface updates look like and how they tackle the potential challenge in regards to complexity of the upgrade,A new version delivered by Ethereum-based Uniswap offers new capital efficiency for liquidity providers (LPs), improved execution for traders, and a more sturdy infrastructure for DeFi. said Blake Ho, Chief Operating Officer of DeFi aggregator Furucombo.

Uniswap v3 will inevitably lead to a market divergence, according to Kadan Stadelmann, Chief Technology Officer of Komodo (KMD), but the A new version delivered by Ethereum-based Uniswap offers new capital efficiency for liquidity providers (LPs), improved execution for traders, and a more sturdy infrastructure for DeFi.changes look like they will make it more difficult for the average Uniswap liquidity provider but easier for professional market makers. A base protocol called L1 is a protocol that is built on top of other protocols. That’s what a lot of people are wondering at the moment.”

Also, some commenters, like Dragonfly Capital managing partner Haseeb Qureshi, claims that the v3 seems to be more gas expensive than v2. On the other hand, Georgios Konstantopoulos, research partner at cryptoasset investment firm Paradigm, argued that deploying a new pool is expensive, and that A new version delivered by Ethereum-based Uniswap offers new capital efficiency for liquidity providers (LPs), improved execution for traders, and a more sturdy infrastructure for DeFi.if you are complaining about the gas costs of deploying a v3 pool, you are ngmi [not going to make it].A new version delivered by Ethereum-based Uniswap offers new capital efficiency for liquidity providers (LPs), improved execution for traders, and a more sturdy infrastructure for DeFi.

Meanwhile, there are some praising the competitor SUSHI's interface, suggesting Uniswap's is outdated in comparison.

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Learn more:

- Decentralized Exchanges Set To Accelerate in 2021

- 'DeFi Will Eat JPMorgan' But There Are Risks Before That Meal

- Coinbase Says It Aims to Improve Customer Service, Integration with Pro

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 5/6/2021

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