Uniswap V3 Recording $265M in Liquidity and $70M in Volume After Going Live on the Ethereum Mainnet

2021-5-7 16:45

Popular decentralized exchange (DEX) Uniswap has finally deployed v3 to the Ethereum manninet. The official announcement states,

“Uniswap v3 is the most powerful version of the protocol yet, with Concentrated Liquidity offering unprecedented capital efficiency for liquidity providers, better execution for traders, and superior infrastructure at the heart of decentralized finance.”

The pool interface now supports the creation of Uniswap v3 positions with multiple fee tiers and concentrated liquidity ranges. Developers can start building on Uniswap v3.

Dominating the DEX space with more than 50% share, Uniswap also accounts for 80% of all daily DeFi active users. Just last month, Uniswap achieved the milestone of surpassing $10 billion in weekly trading volume.

Overall, April was a record month for DEXs, with total volume hitting nearly $77.5 billion.

Meanwhile, UNI is trading around $42, down 6.7% from its all-time high of almost $45 earlier this week. In the past 8 months, the token has soared about 4,000%.

Defined as a “profound” step forward for DeFi, V3 offers capital efficiency for LPs and improved execution for traders.

As for Uniswap V2 protocol, it will remain functional and available for use as long as the Ethereum network continues to exist; it is expected over time the advantages of Uniswap v3 will draw a majority of liquidity and trading volume away from v2, reads the FAQ.

The liquidity on the latest version is currently $265 million with a volume of just over $70 million, as per Uniswap.info.

Interestingly, each Uniswap v3 LP position is represented as an NFT and comes with a unique piece of on-chain generative art. But “Look out for rare sparkles!”

To counter the high gas prices on Ethereum, Uniswap will also be launching v3 on a Layer solution called Optimism within the next few months.

Uniswap/USD UNIUSD 40.2202 -$2.16 -5.36% Volume 1.17 b Change -$2.16 Open$40.2202 Circulating 523.38 m Market Cap 21.05 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=UNI&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~UNI~USD"); The post Uniswap V3 Recording 5M in Liquidity and M in Volume After Going Live on the Ethereum Mainnet first appeared on BitcoinExchangeGuide.

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