Uniswap v3...it’s coming.
Just 14 days on the countdown remain, and the protocol drops on the Ethereum mainnet.
Not many people are talking about it right now...but this channel’s anthem is always...If
you aint first, you’re last.
That means the other will be soon.
Why?
Find out in about 10 minutes or less.
Because it’s time for Chico Crypto!!
Why do I think v3 of Uniswap will be important?
Another anthem of mine...the more things change, the more they stay the same.
Uniswap v2 was muy importante for the health of the markets and setting the stage for the
run we are currently in, and I think v3 could be the spark, the markets need to get going
once again…
So v2 of Uniswap, launched on the Ether mainnet May 18th 2020.
Less than 1 year ago, but holy smackeral it feels like a lifetime!
And there was a mini bubble because of this v2 launch, which kicked of the DeFi summer
bubble of 2020.
Pulling out the BTC chart, you can see it...1 month after v2, BTC broke 10k and looked to
be bullish, busting through 12k.
The driver of this wasn't BTC...it was DeFi, as we can see after the v2 launch of Uniswap,
DeFi exploded...it was under 1 billion May of 2020, DeFi TVL and by the end of the summer
2020, it was crossing 10 billion…
Now looking at that TVL chart expanded out... and the bitcoin price today.
TVL is falling...the BTC price is struggling to break 60k.
V3 is weeks away.
Can it do it again?
Can v3 get another surge going??
In my opinion, oh yeah...because v3, has much more up its sleeve than the whitepaper and
blog leads you to believe.
And that is coming from the “partners” of Uniswap and it’s community.
So within the v3 blog, Uniswap v3 core is launching under the Business Source License
1.1...basically giving the core contracts protection from being copied.
It’s not open like v2 cor was...but if you dive down, they say “All code that may be
needed for external integrations has been licensed under GPL or MIT , aka fully open
source... including math libraries, peripheral contracts, interfaces, and the developer sdk.
The key there is the peripheral contracts...those are fully open source!
That means this github, uniswap v3 periphery contracts, is open to the public...to use.
Back to the v3 blog, they said “Partners and integrations can begin building on Uniswap
v3 immediately, in preparation for mainnet launch!
& Additional infrastructure to support fungibile positions, liquidity mining, more complex
strategies, and various other use cases will be built by Uniswap Labs together with the
Uniswap community after mainnet launch”
So, because of these factors, these facts.
Open source periphery and partners getting prepared.
I would be eyeing the projects that are already preparing for the v3 launch.
I already covered one earlier in the week, now let’s cover the rest.
One I’ve already covered but we need to recover is Xtoken.
They tweeted March 31st “Some big news from us: We're excited to announce xU3LP!
A convenient, fungible solution to Uniswap V3 liquidity provision.
Stay tuned for more updates as we prepare for a launch shortly after Uniswap V3 deployment
in May”
Of which Hayden the founder of Uniswap retweeted Big Eyes.
Now go back to their tweet.
They say, they will launch a fungible solution, to the non fungible LPs of Uniswap v3, shortly
after the deployment.
Back in the v3 blog, they say these fungible position infrastructures will be built by
Uniswap Labs, together with the Uniswap community….
Non Fungible back to Fungible...Is xToken that community!?
It smells like it to me…
Now, we know the LP positions in Uniswap v3 are non fungible.
And Dan Robinson, of Paradigm, Uniswap’s main backer, tweeted about this just 2 days
ago!
He said “Question for those concerned about Uniswap v3 liquidity positions being non-fungible:
What specific use case for liquidity tokens are you worried about losing?”
And the talk going down in the thread reveals a lot.
A ZK replies his worry “the ability for passive LPs to compete on relatively equal
footing against each other” and a Freddy replies “there will be many third party
providers allowing any passive LP to deposit their tokens and participate in dynamic LP'ing
strategies”.
A claude asks “What teams / devs are working on that?” and a Bizarka replies “Visor
is working on NFT smart vault then supervised to apply strategies….Alchemist is really
similar but a more chaotic approach in their roadmap (but close ties between the team and
Uniswap…”
And then, you can see Visr does jump and say they are working on just that.
So does VISR have ties to Uniswap v3???
Well unlike XTK, there has been no reciprocation, from Hayden or Uniswap when they tweet….
Besides, Alchemist, NFY and VISR, their is a 4th project already working on this NFT
LP standard, whose launch is kind of suspicious to me.
This is Method Finance….
Why is their launch suspicious?
Well it kind of coincided directly with the Uniswap v3 announcement.
March 21st, Method announced their NFT vault solution, and just 2 days later, Uniswap v3
was announced of which Method retweeted.
Just great timing by a clever team?
Or more than meets the eye?
Well this just goes back into what I think, alchemist is the one.
Diving into VISR’s github, you can see they forked alchemist, as well as the OG below
NFY.
And the same goes for Method.
Forking only alchemist….so, I’m sticking heavily with the OGs, alchemist and NFY...but
I’m eyeing the others, and seeing what they are doing with the NFT LP space…
But now, it’s time for that Chico Research, everyone loves.
A possible Uniswap partner, who could be coming with a token airdrop very soon.
That is the Gelato Network.
Who last week, went into Version 2 of their protocol & as we can see, a major component
of this, was the ability to place limit orders on Uniswap, which they had an example of through
sorbet finance.
Ok, Ok Tyler, that is just limit orders on v2.
What does Gelato have to do with v3??
Well, let’s just dive into the BLOG of v2...the team said this regarding the protocol “Furthermore,
Gelato’s v2 was built to complement next-generation protocols like Uniswap v3, which leads to
a lot of features open-ended for third parties to build out.
For instance, Gelato can automate a variety of functions of Uniswap v3, including reinvesting
fees back into the pool, converting LP NFTs into wrapped ERC-20s, and automating LP price
ranges”
The key there is automating LP price “ranges”!
As if you go back to the v3 blog...they have a section on Range Orders and say “V3’s
LP customizability opens up a novel order feature to complement market orders, which
we are calling ’range orders’.
LPs can deposit a single token in a custom price range above or below the current price:
if the market price enters into their specified range, they sell one asset for another along
a smooth curve while earning swap fees in the process.
Gelato, is looking to automate this LP price range process!
Back to the Uniswap v3 blog they also say “Range orders within wider ranges may prove
particularly useful for profit-taking, buying the dip”
Ok Ok, those type of functions would only be possible, if their were stop loss positions
for LPs. profit taking, is a stop loss automated strategy.
Back to the v2 gelato blog they say “Several use cases we are actively exploring include
limit orders, dollar-cost averaging for AMMs and aggregators, and “stop-loss” for LPs,
which would allow LPs to eject from liquidity pools when impermanent loss becomes too great”
Hmmmm is all chico has to say!
But what about that Gelato Token??
I’ve spoke of it coming before, but now I have even more confirmation that a Token
is coming from Gelato.
Back in their v2 blog they said ‘For this reason, we choose to implement Gelato v2 using
the Diamond Standard, otherwise known as EIP-2535.
The upgradable protocol is secured by a multisig controlled by the Gelato Core development
team, however, there are already concrete plans to transition this control over to the
upcoming GelatoDAO, which will launch in Q2 this year”
Gelato DAO???
A DAO usually has a token right!??
And we are currently in Quarter 2 of this year!
Well the Gelato Team, 6 days ago, gave a deep overview of everything they just released...but
this is what HilMarX, Gelato developer had to say at the end of
the video…
And then he expanded on that just a bit later specifically mentioning the word TOKEN.
Did you hear that, he mumbled it has some token components!
I would get involved with Gelato, use Sorbet, figure out how to get the tokens, as they
said they will be releasing that information soon!
Cheers I’ll see you next time!