The race to the second position in DEX volume trading is a tight one. However, Uniswap comes out on top.
On any given day, the most popular decentralized trading platforms serve approximately half of the DEX. Any change in its service will have an impact on DeFi as a community.
Myles O’Neil told Blockworks’ Bell Curve podcast on Spotify / Apple that the upcoming improvements to Uniswap V4’s upgrade may widen the difference between Uniswap and other DEXs.
Public Buildings
Reverie is an investment and advisory firm. The associate observes the Uniswap Team moving to a consensus-based approach. This improves the protocol. “building in public.”
It appears that the team is a semblance of a team “aligning its brand with that of Ethereum,” According to him “so when people think of Ethereum, they also think of Uniswap.”
V4 includes a number of improvements, including the addition of “hooks,” O’Neil explains that smart contracts are a set of mechanisms which allow developers to customize their code. Hooks enable developers to “add logic” After swaps, or between blocks, the he says.
O’Neil believes that the improvements will increase Uniswap’s versatility. “a platform for other apps to build upon” A network is a system of “independent dependents.”
O’Neil is convinced that future developers won’t forgo the upgrades. “starting from scratch,” Use the tools that Uniswap provides instead “tap into the liquidity and tap into the existing brand and user base.”
O’Neil is confident that Uniswap’s success will lead to a successful future. “they’ll have all these would-be competitors now building on top of the Uniswap protocol.”
“It’s a really strong strategy.”
Develop your product in-house or outsource it to the market
“They can retain flexibility to build user-facing tools with the wallet and the mobile app and let the protocol be a little bit more unbiased and open,” O’Neil says.
O’Neil says that hooks allow for more customization, which will speed up development. Uniswap Can “outsource” Developers can bring innovation to the market. “really experiment,” He says.
Michael Anderson, the co-founder and CEO of Framework Ventures, demonstrates how limit orders can be used with hooks. “Some price on some AMM (automated market maker) gets below some threshold or above some threshold, and there’s some trigger with a hook that says, okay, sell or buy that asset, or swap that asset.”
Anderson is in agreement that the V4 process of development indicates a shift toward a more streamlined approach. “open-source” He describes the Uniswap approach as a “very positive” one. “really positive development for a protocol.”
Anderson believes that Uniswap will be a very different product in the future, with all of the hooks available.
“Historically, what we’ve seen with Uniswap is that it’s really simple to use,” Anderson says. Anderson says that V3 brought a lot of benefits and complexity to the users. The possibilities of hook customization are vast.
“It’s going to be interesting to see what the user experience looks like,” He says. “That’s going to be a pretty huge divergence from what most people think of Uniswap today.”
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