V Swap v.s. Uniswap V3: A Brief Comparison
Along with the release of Uniswap V3, the entire DeFi ecosystem has moved a step further towards a new era.
In VSYS, we hope to become a platform for every ordinary user to create, trade, and innovate in the DeFi world, our development has always been focusing on a wider range of contracts. Now it’s time to make an objective comparison with Uniswap to emphasize our key differentiations and positioning.
Key features of Uniswap: from V1 to V3
Back in 2018, when Uniswap V1 realized an automated market exchange, introduced AMM (Automated Market Making) model, and first launched on the Ethereum mainnet, it opened an independent route for DeFi. In 2020, Uniswap V2 allowed free addition of trading pairs, introduced ERC20-ERC20 liquidity pools, reduced conversion costs and slippage for ERC20 tokens trading.
Uniswap V3, which was officially launched on May 5, 2021, introduced key new features including Concentrated Liquidity, Active Liquidity, Range Orders, Non-fungible Liquidity. These features aim to address several problems, provide a more flexible and efficient AMM, and improve capital efficiency for LPs.
VSYS DeFi Smart Contracts: how do we differentiate ourselves?
In VSYS we focused on a wider range of contracts and use cases. V Swap Contract possesses most of the key functions of Uniswap V1. Although V Swap doesn’t provide a price range at which they provide liquidity for, but in V Stable Swap Contract, where we introduce ideas of the traditional order book on the blockchain, and further brings in practices in traditional finance such as options. We aim to leverage our industry ideas and move closer towards proven mechanisms in traditional finance. It is completely conceived and created in concrete practice, and we believe such innovation has a greater chance of success.
Moreover, the design of the V Stable Swap keeps the trading of option tokens in mind. It is expected that the option tokens, and future financial derivatives will be traded on this contract.
V Options Contract
The V Options Contract is one advantage we have over UniSwap. UniSwap currently mostly supports (ERC20 Tokens)/ (ERC20 Tokens) or (ERC20 Tokens)/Eth swaps. VSYS has a large number of uses for Tokens which can all be traded on the V Swap contract.
For example, once the V Options Contract releases, this allows option tokens to be traded on the V Swap contract.
VSYS will continue to add the ability to create financial derivatives on the blockchain, which can be traded on either the V Swap contract or the V Stable Swap contract.
V Escrow Contract
The V Escrow contract is also a unique idea on the VSYS blockchain, it allows two parties to do transactions with one another if they have mutual trust in a third party. It is expected that the third party will be a large trusted entity that receives fees for facilitating transactions between parties.
A simple example would be the delivery of a physical object where the recipient pays using cryptocurrencies. Once the delivery has been made, the trusted third party can review the evidence of the shipping/mailing and distribute the funds accordingly.
We have also developed a decentralized exchange DEX for the VSYS main network based on these features. It has been under testing and we plan to launch it shortly after the new VSYS3 main network goes live. With the VSYS 3 DEX, tokens on the VSYS and VSYS contracts will be freely convertible, leading to more and more interesting DeFi services. We’ll explain them with more details in future articles.
To summarize, by focusing on our philosophy, expertise and industry experiences, we expect to see more and more innovations with huge potential to be unleashed in the DeFi world. Once VSYS contracts are widely used in financial applications and the ecosystem, a huge new map will be opened.
Testnet and Launch Details
While the core smart contracts are finished, additional work is still in progress. V smart contracts are undergoing formal verification and further testing. We are optimistic that this new series can be deployed before Q3 of this year. Meanwhile, we are looking forward to any valuable comments from you！
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