'What is the Difference Between Uniswap V1, V2, and V3?' uniswap defitopstory
The liquidity providers should add liquidity in such a way that K experiences no change.If the user wishes to swap USDC for DAI, the first step would be swapping USDC for ETH, succeeded by the swapping of ETH-DAI to get DAI. Uniswap V1 also facilitates the concept of LP tokens.add liquidity to any pool, they receive LP tokens representing the added liquidity. These LP tokens can then be staked or burned to redeem rewards. A 0.3% trading fee is incurred to reward the liquidity providers.
But they could either pay for the tokens withdrawn or pay for a portion and return the rest or return all the withdrawn tokens. These things can be done at the end of the transaction execution.Community governance plays a vital role in turning this fee on or off. A protocol fee of 0.05% of the total 0.3% trading fee will be reserved for the development of the Uniswap platform that shapes the roadmap of the network.
The liquidity will be shifted to the less valuable asset while waiting for the market to arrive at the specified price range. It ensures the wellbeing of the liquidity providers in the Uniswap trading ecosystem. At the same time, LPs can update their price range to meet the current market price range to start getting rewards again.Uniswap V1 had a flat fee of 0.3%, and the entire fee was allocated for rewarding LPs. In Uniswap V2, 0.
It’s one of the first exchanges to truly give traditional financial institutions a run for their money.IntroductionIt is currently the ‘wild West’ of the finance world. DeFI makes it possible for users to access an open and permissionless system of financial applications with no tedious procedures, KYC protocols, and downtime.
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