HashKey Digest

18 June 2021

Some Statistics on Uniswap V3 Since Its Launch

This article from Messari focuses on a brief overview of Unisway V3.

Uniswap V3 is designed to increase capital efficiency by increasing the liquidity pools within the specified price range.

V3’s trading volume surged since its launch and it becomes the second-largest decentralized exchange (DEX) on Ethereum.

 

 

V3’s trading volume is approaching parity with V2.       

 

 

The most noteworthy is that V3 is really capital efficient, reaching the above volume with using less than 15% of the total value locked (TVL) of V2. V3 is the only DEX turning over more than 100% of its TVL on a daily basis.

 

 

The trading pairs of stablecoins are better proof of this: for example, when compared with Curve’s 3Pool, which has a TVL of $1.65 billion, while V3’s USDC/USDT and DAI/USDC pairs have a combined TVL of only $125 million. The 24-hour volume of 3Pool on Curve reached $265 million, while V3’s 24-hour volume reached $198 million, a near parity.  (The volume to TVL ratio of 3Pool was 16% while that of V3 was 158%)

V2 combined with V3 has now increased Uniswap’s trading volume to a new high of 61% in 2021.

 

 

As May was the time when some DEX competitors were releasing new protocol upgrades of their own, all with the same theme of capital efficiency, such as Sushiswap’s upcoming upgrade and Balancer V2. It remains to be seen if these protocols are that effective in terms of capital efficiency.  These protocols have not yet begun to offer incentives on V3, as well as management for passive strategies. V3’s upcoming deployment to Optimism may push transaction volumes even further.

Link to original article: https://messari.io/article/uniswap-v3-an-early-but-resounding-success

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