$KYL Liquidity Pool Migration — Uniswap V2 to V3
It is unquestionable that Uniswap, since its launch, has had phenomenal success and become the largest decentralized exchange that takes up a large chunk of trading volume in this space. According to Coinmarketcap and many other crypto asset websites, Uniswap V3 has secured its unparalleled advantage in multiple aspects, including its around $1.17B daily trading volume, with more than 640 markets.
Since the Uniswap V3 launch on May 5 of 2021, we have seen so many iterations and improvements upon the original version that Uniswap now has become the critical infrastructure for decentralized finance, empowering developers, traders, and liquidity providers to participate in a secure and robust financial marketplace.
With that being said, Kylin Network is excited to announce we decided to migrate the $KYL liquidity to Uniswap V3.
For more details of $KYL on Uniwap V3, please 👉 CLICK HERE.
Uniswap v3 vs v2 — Efficiency, Security, and NFTs
Uniswap V3 is a solid upgrade. It is clear that a lot of work and continuous efforts went into it.
Uniswap V3 introduced manifold new features to address the problems this space has been struggling with and provide a more flexible and efficient AMM. Those features are:
- Concentrated Liquidity
- Active Liquidity
- Range Orders
- Non-Fungible Liquidity
- Flexible Fees
- Advanced Oracles
To dive deeper, we recommend the following readings 👇
You could argue that concentrated liquidity is the only new flagship feature of the V3 upgrade, and the rest are byproducts or prerequisites to achieve concentrated liquidity. In summary, Uniswap V3 chose the path of capital efficiency.
Uniswap V3 focuses on maximizing capital efficiency when compared to V2. It not only allows LPs to earn a higher return on their assets but also improves trading execution that can now be comparable or even surpass the quality of both centralized exchanges and stablecoin-focused AMMs.
We, at Kylin Network, do believe there were a lot of complex design trade-offs made to achieve the primary goal of this upgrade. However, the market has made its choice. Uniswap V3, for now, is the best, most recognizable decentralized exchange in this space, and we have migrated the $KYL liquidity to Uniswap V3.
About Kylin Network
Kylin Network aims to build a cross-chain platform powering the data economy on Polkadot. It will be the data infrastructure for the future DeFi and Web 3.0 powered by Polkadot. Kylin Network will provide valid, reliable, secure, cost-effective, and easily-coordinated data sources and data analytics.