The third update of the decentralized exchange (DEX) Uniswap (UNI) will arrive this spring. According to new details of the so-called v3 launch released on Tuesday.
Uniswap (UNI) founder Hayden Adams said, “If I have to spend another week without announcing the details of Uniswap (UNI) v3, I will go crazy.”
Market experts across the industry keep thinking about the improvement features of v3 compared to v2. It is stated that the new details published on Tuesday were decided to be implemented in May.
Uniswap accounts for 20% to 25% of fees in Ethereum on an average day. Last month, the project conducted more than $ 30 billion in trade volume. The platform accounts for 60% of the DEX market. It has about 15 times more users than any other Ethereum DEX.
Competitive projects from Curve to DODO to Balancer examine the same issue. It is how to make liquidity provision in DEX more efficient. Many other problems linked to DEXs. It stems from this issue in addition to the scaling limitations unique to the Ethereum network.
Curve, for example, has made some progress on this front. However, this efficiency solely was for stablecoins. The balancer has also made it easier to provide liquidity to crypto baskets heavily. Despite all this, according to Uniswap (UNI), nobody has addressed the essence of the problem.
The platform plans to fix scaling as well. The Tier 2 implementation provides to increase business volume and effectively reduce gas prices to zero.
One of the new features of Uniswap (UNI) v3 is the updated fee structure. Instead of one-size-fits-all pricing, v3 will offer LPs three different fee tiers: 0.05%, 0.30%, and 1.00%. In this way, LPs will be able to create markets in more variable assets. This approach will make it easy to trade under traded assets.