ENEX Migration From Uniswap V2 to Uniswap V3
The trading volume of decentralized exchanges in recent times has been a thunderbolt compared to that of centralized exchanges thus, it threatens CEX to a possible brink of extinction.
As ENEX will keep doing everything within its power not to rest on its oars in order to keep pushing towards the success of its project, it is with great pleasure that we announce ENEX liquidity migration from Uniswap V2 to Uniswap V3.
Uniswap is a decentralized exchange on the ethereum blockchain. Uniswap is one of the core DeFi projects which is a protocol for the decentralized and permissionless exchange of tokens on the Ethereum blockchain. Its initial version was launched in Nov 2018 and in May 2020 version 2 was launched and
Recently, Uniswap V3 was launched in March 2021 which is quite an interesting upgrade to Uniswap V2 with the potential of revolutionizing the AMM space.
How Uniswap V3 Features Will Affect ENEX Liquidity
Concentrated Liquidity
This feature consists of a whole new framework of how liquidity providers (LPs) can provide liquidity for AMM pools on Uniswap. ENEX market markers can now allocate liquidity to a specifically noted price range and with this migration, Uniswap V3 will give ENEX liquidity providers freedom of choice to select their desired price range to provide liquidity for in any asset pool instead of the zero to infinity default on V1 and V2. Therefore, concentrated liquidity will significantly increase the ENEX market depth and reduce slippage simultaneously.
Capital efficiency
Capital efficiency will increase ENEX liquidity providers’ rewards by over 4000 times on Uniswap V3 relative to that of Uniswap V2.
Active liquidity
For avoiding downside risks, Liquidity providers on ENEX can now protect themselves against impermanent loss and inactive liquidity by setting multiple concentrated liquidity positions.
Range orders
This feature allows Liquidity providers to maximize trading fee rewards and profits. Just like “limit orders” on centralized exchanges, range orders are quite similar. It allows Liquidity providers to set a specific price range in which liquidity will be added by making use of a single ENEX token.
Flexible fees
Uniswap V3 allows ENEX liquidity providers to set up a flexible trading fee that suits their concentrated liquidity positions while trading pairs such as ENX/ETH, ENX/USDT. These fees range from 0.5 to 1 percent and increase due to the volatility of an asset pairing e.g Eth and Uni. Unlike in Uniswap V2, ENEX token holders on Uniswap V3 can vote to receive a 10 to 15 percent cut of the trading fee from each asset pool thus bringing about a lucrative passive income.
In conclusion, this upgrade and migration of ENEX liquidity from Uniswap V2 to Uniswap V3 is a massive enhancement towards the growth and development of the ENX token and will give liquidity providers more control, dominance, and sovereignty over the profits and incomes.
Thanks for your support!
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