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When the first decentralized exchanges launched in 2017, it was a real revolution. Anyone could create a market for any asset. However, with so many markets, liquidity became a big issue.
On centralized exchanges, liquidity is provided by professional market markets. They provide buy/sell prices at any time. But to be a market maker, you need a lot of capital, and a lot of technical expertise. It’s a small elite that is only interested in big markets.
But on decentralized exchanges, we have a lot of small markets. The traditional approach of market makers is just not going to work there.
Uniswap solved this problem by introducing the concept of automated market makers (AMM). With AMMs, anybody can be a liquidity provider. You just send your tokens to a liquidity pool, and you get a share of the trading fees. Traders can buy an sell by tapping into this liquidity, and the price is calculated programmatically by the code of the smart contract.
Uniswap was an instant success and quickly became the biggest decentralized exchange on Ethereum.
Uniswap V2 brought more flexbility to the protocol, with the possibiliy of creating liquidity pools between any tokens, and not just with ETH as the quote currency.
Uniswap seemed unstoppable… until Sushiswap came out. Sushiswap was a fork of Uniswap, with a few changes, like liquidity mining. Sushiswap was only the first clone of Uniswap, and very quickly, Uniswap found himself in a tough competition with many other decentralized exchanges.
This forced the team of Uniswap to get back to the drawing board and find out how they will win the liquidity war. Uniswap V3 came out in May 2021 with many new features. The main improvement is a better capital efficiency thanks to a system of concentrated liquidity. In Uniswap V3, liquidity providers specify a price range in which their liquidity can be used. Concretely, it means that with the same amount invested, they make more money in trading fees.
With this new improvement, Uniswap V3 is set to win back its place of king of DeFi, and as a Blockchain developer, you absolutely need to know how it work.
That’s why, we are launching this live training to teach you how to interact with Uniswap V3.
When is the training?
- July 6th, 11pm UTC+8
- If you cannot access the live event, you will still be able to access the recording after
PART I: UNISWAP ARCHITECTURE
- How is Uniswap V3 different from V2?
- What is Concentrated Liquidity and how does it work?
- How adding liquidity works in V3 ?
- How token swaps work in V3?
PART II: LIVE CODING DEMO
- How to use the Uniswap V3 SDK?
- How to do a token swap in Uniswap V3?
- How to add liquidity to in Uniswap V3?
- Basics of NodeJS
- Basics of the command line
- Required software:
- Code editor (ex: Visual Studio Code)
- A terminal (for Windows users, you can use the bash emulation of gitforwindows)
- Works on Windows 8/10, recent versions of Ubuntu & MacOS
Recording – part 1 (17:26)
Recording – part 2 (44:06)
Recording – part 3 (38:52)