ADD’s native token $ADD is now open for trading on Uniswap version 3.0 as the platform’s new update went live on mainnet today.
Here is the Link:
https://info.uniswap.org/#/pools/0x2ab653894ce12ae9b4538aefc90b2d6e96458e1d
Uniswap holds the top position amongst all DEXs and is the most popular decentralized exchange in the world. Today, their version 3.0 has gone live on Ethereum with new upgrades, changes, and features.
The crypto community is still curious to know how the changes in the world’s leading decentralized automated market maker are going to impact their trading, swapping, and staking experience.
It was in late March the company behind the Uniswap announced they will be launching v3. Yesterday, v2 traded more than $1.6 billion in a 24-hour span. And now if we see the transition to the new version, traders feel there is increased flexibility on the platform as there are significant changes in how we provide liquidity into the protocol. This change is expected to be attracting more traders and making trading more efficient on Uniswap.
Concentrated Liquidy
Uniswap has introduced a new practice with a term called ‘concentrated liquidity.
Uptill now, if there are two tokens in any liquidity pool, the pool offers a price for both the tokens. This price is simply the ration of the two tokens in the pool. When you buy or sell tokens from AMM pools, you pay a small transaction fee for every trade. This fee is then shared among all the people who have deposited tokens into that pool on a pro-rata basis.
Concentrated Liquidy is different. Under this new practice, if you are lending or depositing your funds to a liquidity pool, you can define a band in which your deposits will be traded. One of the biggest advantage this feature brings is that the ratio between the two tokens in the pool will not hyper fluctuate and will stay close to the market price. For example, if you have a pool with two stable coins USDT and USDC. It is obvious that the ratio between these two should stay between 0.99–1.01. Earlier, this wasn’t the case as trader activity used to fluctuate this ratio farther. Now with concentrated liquidity, lenders and depositors will be able to set the band on their deposits making the markets more efficient.
More details on their launch can be found here.
To view our full roadmap for 2021 and see how far ahead of progress the ADD.xyz development team is, simply view our airtable link here
If you missed it, from today, we got our new look. Read it here what it means for you, us, and the whole DeFi space.
For any questions please feel free to reach out to us on:
Website: https://add.xyz/
Telegram: https://t.me/ADDXyzpublic
Twitter: https://twitter.com/adddotxyz
Medium: https://medium.com/@Add.xyz
