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Talking about Uniswap V3 innovation: what impact does it have on the DeFi ecology?



V3 was released smoothly in the bull market. Compared with Dogecoin, which is out of the circle, the release of V3 is extremely deserted. The team did not do too much flattery and compromise because of the bull market, such as starting liquidity mining, or some short-sighted actions to stimulate prices in the short term.

Many people complain about V3 because of handling fees, but the innovation of V3 lies in the geometric progression of capital efficiency, and the eternal theme of DeFi is capital efficiency. The different emphases of the iterations of each DEX version also reflect the differences in the structure of the teams, and whether they have grasped the essence and lifeline of DeFi.

Four funds under Lightspeed completed $7 billion in financing and launched the encryption fund Lightspeed Faction: On July 12, four funds under Lightspeed completed a total of $7 billion in financing, including three US funds and one Indian fund, which are: The 14th early-stage fund (less than $2 billion), growth fund ($2.3 billion), international investment fund ($2.4 billion), and Lightspeed India Partners ($500 million).

In addition, Lightspeed also announced the launch of Lightspeed Faction, an encryption fund focused on early stages. The fund declined to disclose financing information, but according to a source, the fund has completed its first fundraising of $325 million, but the fundraising activities are not over. , which is expected to eventually raise a total of $400 million for the crypto fund. (techcrunch)[2022/7/12 2:08:24]

The importance of capital efficiency is far greater than scalability, handling fees, and vertical series acquisitions.

Former SEC Chairman: Firmly Believe in Encryption Technology: According to news on December 17, Jay Clayton, former chairman of the US Securities and Exchange Commission (SEC), said that he is a "faithful believer in encryption technology", claiming that the efficiency and tokenization of encryption technology in the financial sector The benefits are immeasurable. When asked whether the current chairman has imposed too many restrictions on the encryption industry, Jay Clayton replied that cryptocurrencies have multiple uses and are associated with various industries, and the SEC should only regulate these industries. (newsbtc) [2021/12/17 7:45:33]

Liquidity mining is actually not conducive to increasing capital efficiency, and Uniswap has proved that a project with a moat and first-mover advantages can attract huge amounts of liquidity without resorting to the subsidy strategy of liquidity mining. At present, the liquidity mining incentives of various public chain ecology have obviously entered a serious involution under the intervention of major whales.

BetaShares' new crypto ETF breaks ASX record 15 minutes before listing: Australian fund manager BetaShares' new crypto ETF breaks ASX record in first 15 minutes of listing, Nov. 5 The CEO of platform Zerocap Ryan McCall said: "Given Australia's 'appetite' for cryptocurrencies over the past year, it is not surprising to have such a record. Australia's spot Bitcoin ETF is not far away, followed by Ethereum and potentially other cryptocurrencies." (Cointelegraph) [2021/11/5 6:33:29]

The release of V3 drives retail LP providers away from passive LP offerings without a price range to active-zce LP offerings with a price range. This puts high demands on the professionalism of LP providers, and an opportunity that comes with it is the smart pool of active-zce market maker strategies. VISR/MIST/Charm are currently three projects with the concept of V3 Smart Pool, but no products have been produced yet. We can also look forward to the veteran top machine gun pools such as YFI, taking the lead in developing the V3 market maker strategy.

The above is that Uniswap V3 has laid off market makers.

The release of V3 will bring many investment opportunities in surrounding infrastructure, and the active-zce market maker strategy smart pool is just the tip of the iceberg. Judging whether a product is great or not lies in this, whether each iteration of it can generate more investment opportunities, attract more capital, technology and talents, and produce a positive spiral effect.

Uniswap V3 also laid off grid trading. V2’s passive LP offering without a price range is actually infinitely dense grid trading without a price range, while V3’s active-zce LP offering with a price range becomes Grid trading with precise intervals.

Witnessing the iteration of UNI from V1 to V2 to V3 also makes us more convinced that an epoch-making, revolutionary, and innovative product with continuous self-iteration capabilities like Uniswap is worth holding for a long-term across cycles. I am very gratified, not only because there are more and more currencies worthy of value investment like UNI in the currency circle, but also because now we can talk with confidence that value investment does exist in the currency circle.

Of course, capital efficiency is important, and Layer 2 must also catch up with the schedule as soon as possible. As a relatively reliable second-tier solution, Polygon’s recent momentum should not be underestimated, whether it is from the increase of TVL or the cooperation with the old top DeFi projects such as AAVE and CRV. But the second-tier solution is not only a technical issue, but also a question of standing and faction. At present, the capital led by Paradigm, which leads the direction of the currency circle and has the core voice of the currency circle, wants to promote Optimistic. As for whether Optimistic can take over, it has to speak with strength. The battle for liquidity in the second-tier scheme must be a highlight in the future, and the intensity of the fight can be glimpsed.

Another major innovation of V3 is LP or NFT. Attempts to combine NFT with DeFi have begun in the past two years. However, the innovation of LP or NFT is likely to give NFT real financial wings, which means that the NFT track has just begun.

UNI makes market makers, grid trading, and selling high and buying low all laid off. The blood of finance is liquidity and market makers. For such a powerful thing, one UNI can replace a large part.

In theory, as the strongest DeFi leader, UNI can continue to innovate, making other AMM DEX feel extremely suffocated, and constantly squeeze the living space of other competitors. Therefore, we should have such an understanding that what you buy is not only UNI, but also a ticket to the new world. Because UNI represents a new era.


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