All signs indicate that the footsteps of Uniswap V3 are getting closer.
On March 4, Uniswap founder Hayden Adams asked netizens on Twitter: “When you announce the details of Uniswap v3, which channel will you view first?” Options include podcasts, Uniswap series Twitter, Uniswap V3 white paper, and pass User feedback on Twitter.
Immediately, YFI founder Andre Cronje said, “When founders or core contributors start to post more actively on Twitter, it usually means that they have completed a milestone and are waiting for the release, and noticed the frequency of Hayden Adams’ tweets. Has increased.”
Hayden is extremely confident in Uniswap V3. He once said confidently that Uniswap V3 has destroyed every AMM I have seen so far, and I can’t even find a close competitor.
The Deep Tide TechFlow is stripping away, looking for clues from details, and bringing Uniswap V3 prospects and conjectures.
When will it go live?
Back to the release and launch time of Uniswap V2, in March 2020, the V2 white paper was released. On May 18, Uniswap V2 was officially launched on the Ethereum mainnet.
“Chico Crypto”, the video UP owner who first released the V2 newsletter on Youtube, speculated that the V3 white paper will be online in March 2021, and the official release will be in May.
Trader Benjamin believes that Uniswap V3 will be launched in the second quarter of 2021.
On the cryptocurrency consulting service platform Experty, more than a dozen crypto practitioners have analyzed and predicted. Most people believe that V3 will be launched in Q2 at the earliest and Q3 at the latest.
Layer2
Limited by the performance of Ethereum, Uniswap is now most criticized for its high gas fees, slow-blocking transactions, and poor user experience…
Uniswap founder Hayden Adams once said on Twitter that V3 will “solve all problems.”
Investors will pin their hopes to Layer2.
As an example demo of Uniswap Layer2, Unipig’s solution was launched in October 2019, showing the basic operation of Uniswap+Layer2.
Unipig adopted the Optimistic Rollup plan to expand, and was jointly created by Uniswap and Plasma Group (later renamed Optimisti PBC).
At present, it is most likely to be certain that Uniswap’s Layer 2 technical solution will cooperate with the Optimisti PBC team.
The underlying language of Uniswap V3 is Solidity. Hayden once said, “V3 will be deployed to ETH first, and then can also be deployed to a Rollup solution that supports Solidity and is ready.” The advantage of Optimism Rollup is that it is compatible with EVM and can achieve fast and Low-cost Solidity smart contract migration.
If there are other reasons to be mentioned, more “personal friendship” is involved.
OptimisticPBC co-founder Wangjinglan is Uniswap’s consultant. Hayden expressed his gratitude to Wang when he launched V1. The two met at the 2018 Toronto Ethereum Community Development Summit (EDCON), which was the first time Hayden went to participate in an Ethereum-related conference. .
There seems to be no doubt that Uniswap V3 will be deployed on L1 and L2 at the same time. In Hayden’s original words, “Uniswap V3 should be released on ETH1 and rollup. We can see which one will win in the long run.” So will the V3 version support L2 from the beginning?
On February 11, Hayden explained, “Uniswap is meaningful on both L1 and L2. In the long run, L1 can meet the demand for higher-value transactions. Uniswap V3 will initially be deployed to L1, but will also be deployed later To L2.”
This seems to mean that the Layer 2 version of Uniswap may have to wait a little longer.
Uniskirt?
In 2019, when V1 was released, Uniswap created 500 SOCKS tokens. Their initial idea was that SOCK tokens would be “backed” by the same number of limited edition, physical socks. The initial SOCKS token price was $12. Today, the price of SOCKS tokens has soared to $110,000.
On October 22, 2019, Uniswap announced the launch of Unisocks redemption activities, users use SOCKS to buy Uniswap socks. Unexpectedly, this token redemption event put SOCKS on the rocket and the price rose.
As of March 7, according to Unisocks’ official website, there are only 314 SOCKS in circulation, which means that 186 investors have exchanged their socks. Therefore, when you see someone showing unicorn socks online, please remember that this is Currency circle Versailles. So, will there be a second “Unisocks”? It is possible that this time it may be Uniskirt being marked.
In 2018, at the DevCon of Ethereum’s annual developer conference, Hayden Adams and his team urgently commissioned the production of Uniswap’s t-shirt, named it Uniskirt, and distributed it to participants.
Since then, Hayden will mention Uniskirt from time to time and is proud of it. With the release of V3, whether Uniskirt will be tokenized and the combination of entity + NFT has also become the focus of attention.
NFT?
On March 4, when KOL “DCinvestor|Aftab” mentioned that CNBC’s article was talking about Paris Hilton’s NFT. Hayden said with interest, what if Paris Hilton’s NFT is part of the Uniswap v3 announcement? The NFT transaction on the V3 will naturally become part of the guess.
On Twitter, many people wondered why Unisocks uses ERC 721 and ERC20 at the same time. Hayden explained this: Investors can trade fragmentary ERC20 SOCKS, but they need a complete SOCKS to exchange 1 NFT and 1 pair of physical objects. Unisocks. The essential reason is that NFT is not slicable, so it cannot really play a role in the liquidity pool, so its transaction form is ERC20, but it can be exchanged for real socks + NFT.
Based on this, “Chico Crypto” boldly guessed that afterwards, V3 may build an ERC20 liquidity pool for NFT tokens.
The second airdrop?
Uniswap V2 created the airdrop myth, and there is hope that this myth will happen again. According to previous official announcements, 60% of the initial supply of UNI will be allocated to Uniswap community members, and a quarter of the 60%, which is 15% of the total supply, will be allocated to existing users.
With the gradual pace of V3 and the transfer of 120 million UNIs on March 5th, whether there is a second airdrop and the specific rules have become the highlight of the guess. “The airdrop quota will be allocated based on the previous on-chain fees,” some KOL guessed. The second airdrop or the opening of new liquidity mining may be a benefit to be expected.
Improve capital efficiency
2019: Uniswap V1 proves that AMM can compete with traditional exchanges; 2020: Uniswap V2 will prove that AMM can complete tasks that traditional exchanges cannot complete; 2021: Uniswap V3 will usher in slippage and capital efficiency optimization, proving that AMM can Beyond traditional exchanges in all aspects.
This is a Flag set by Hayden in 2020. How to reduce slippage and improve capital efficiency will be the key to the V3 revision. In Uniswap, if the assets of the AMM liquidity pool are not large, as the exchange volume increases, the price slippage will reach an extremely alarming number.
In order to solve the problem of excessive slippage, the competitor Bancor V2 adopted a method of “liquidity amplification” to improve. The so-called “liquidity amplification” mechanism is mainly to reduce slippage within a specific price range by changing the pricing curve of AMM. The mechanism of liquidity amplification is widely used in stablecoins and packaging assets (such as weth, etc.), such as Cuvre.
Other speculations
Uniswap V3 may launch a limit order book model later. As a function of volatility, fees are charged according to dynamic and market, instead of charging the same 0.3% fee for all fund pools. Establish a single currency liquidity pool.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.