Uniswap v3 Comes Out Tomorrow. Here’s What to Expect

With new products and features dropping every week in the nascent decentralized finance ( DeFi ) arena, the top decentralized exchange in the world can’t afford to rest on its laurels.
Tomorrow, Uniswap , which upgraded to version 2 last May, aims to release version 3 of its protocol, which promises to give users more control over the liquidity they provide and feature more upside for riskier trades. 
DeFi is a multi-billion dollar industry that replaces traditional financial institutions, such as banks and brokerage firms, with automated code (i.e., smart contracts ) built atop a blockchain network. Via DeFi, one can get loans, earn interest on holdings, swap tokens, and place bets on tokens’ future values. Ethereum has a $391 billion market capitalization, and over $77 billion in crypto is invested in Ethereum-based DeFi protocols, demonstrating how important the sector is to the blockchain’s growth (and, likely, its price).

Uniswap is the most popular Ethereum-based decentralized exchange, or DEX , which allows people to swap tokens that run through the Ethereum network. Uniswap itself is an automated market maker (AMM), meaning it relies on algorithms to price assets instead of buy and sell orders. Those on the platform provide liquidity by locking up tokens they own; others can borrow the tokens and pay interest to the liquidity providers.
The “ ERC20 ” tokens on the exchange include dollar-pegged stablecoins such as Tether and USDC , as well governance tokens such as Maker and Aave , which facilitate voting on other protocols. 
In the last 24 hours, Unsiwap reported trading volume of nearly $1.9 billion, according to CoinMarketCap. While that doesn’t come close to centralized spot exchanges Binance or Huobi, which did $68.8 billion and $20.7 billion, respectively, it does arguably make it “critical infrastructure for decentralized finance,” as Uniswap wrote in a March 23 blog post.


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