UniSwap (UNI) Recently Became the First DEX to Pass $0.3 Trillion in Trading

Jun 21, 2021 0 comments

Hayden Adams pointed to how UniSwap recently became the first DEX to pass $0.3 trillion in trading. A year ago it was $0.001 trillion. Year before that $0.0001 trillion. Year before that it didn’t exist. It’s absolutely crazy how far DeFi has come, but the most exciting times are still ahead.

Negative Community Musings: Can you please explain why the UNI token is $20+ when it has no use yet? Plenty of token without any use.

Maybe because the price of the UNI token has nothing to do with the cumulative trading volume of Uniswap?

Why wouldn’t you say 300B & 1B? Instead of trying to make it sound so much bigger than it actually is?

Positive Community Musings: Looking forward to the future world of Defi, especially the performance of Uniswap v3 is just incredible. Definitely an area of the crypto world to look into if you have not yet discovered it. Defi-revolution.

Instadapp expressed: LP Staking – INST will be the first implementation of Uniswap v3 price ranges pooled into an ERC20 token in partnership with gelato network. Users can stake INST into these pools and receive additional rewards.

Hayden Adams expressed, it was pretty cool to see that the INST launch includes fungible Uniswap v3 vaults with auto fee reinvesting.

Capital efficiency in action: The Uniswap v3 USDC/ETH 0.05% fee tier pool is doing $258m volume on just $48m TVL On its own this pool would be the #2 DEX, with higher volume than other AMMs with billions in TVL.

Community Response: From a LP perspective does that make the 0.05% pool more attractive for fees? Confusing volume with liquidity again, I see? Yeah, the 0.05% pools are flipping the 0.3% pools income wise. In a volatile environment are LPs making net profit? Regardless though, it helps our new pool to get started.

So, the question is where will those billions of TVL move next after Uniswap V3 takes too much volume away from them? Probably some will add liquidity to Uniswap V3 pools. The best way now is to pledge mining.

I actually made a 2% return in a week or so LPing in V3… But it’s a lot complex to explain. It’s like trading ranges but you get fees along the way. So, if you’re wrong you don’t lose much because you earned the fees. But if you’re right, you get fees + trading profits.

Sourced from thecurrencyanalytics.com.

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