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just-in-time.md | ||
README.md |
🍣 uniswap v3
tl; dr
uniswap v3 introduced:
- concentrated liquidity and non-fungible liquidity:
- replacing fungible ERC20 liquidity positions with non-fungible ERC-721 liquidity positions.
- individual LPs get granular control over what price ranges their capital is allocated to.
- individual positions are aggregated together into a single pool, forming one combined curve for users to trade against.
- multiple fee tiers: allowing LPs to be appropriately compensated for taking on varying degrees of risk.
- range orders: lps can deposit a single token in a custom price range, above or below the current price.
- improvements to the TWAP oracle: possible to calculate any recent TWAP within ~9 days in a single on-call chain.