The Case For A Better Uniswap

The Case For A Better Uniswap

By Jzjallday | Here's the Skinny | 11 Mar 2021

Photo by Mateusz Dach from Pexels

Photo by Mateusz Dach from Pexels


Shiver Me Timbers

O.K., so you've come here because you're wondering what new features Uniswap will have when it launches it's third iteration. There's a lot of questions out there and like me, you're probably trying to get to the bottom of them all. Maybe you've came here because you love Uniswap and want to make sure there's no wildly inaccurate speculation going on. Maybe you have some inside information none of us know about and would like to compare notes or maybe still, you have no idea how Uniswap works and thought, 'What the hell?' (don't worry, I've got you covered too).

Either way, rest assured this post does nothing to take away from the groundbreaking technology that Uniswap has brought to Decentralized Finance (DeFi) which allows cryptocurrency coin swapping to exist. The application has undoubtedly revolutionized the investing space by holding roughly 5 Billion dollars worth of liquidity that make these kind of coin exchanges possible (a feat achieved in less than one year I might add). Not to mention the fact, and most importantly, they've made the vast world of cryptocurrency broadly accessible to the masses.

So, instead of trying to speculate the possible ways Uniswap V3 will evolve, I'm going to try and reverse engineer some of the existing problems Uniswap currently has to find out where this flagship might, or better yet, should be heading. I think its safe to assume they're going to address these kind of issue in one form or another down the road because, well, that's what successful companies do and to be honest, Uniswap is one of the most successful companies out there, so yeah, GO SCIENCE!


$114B+ All Time Volume, 72K+Liquidity Providers, 34M+All Time Trades, 200+Defi Integrations


Sour Gripes?

Now, with all that fluffy stuff out of the way AHEM, "How come Uniswap isn't any better yet?! Why can't I see my fees without hitting the swap/confirm swap buttons? Why am I sitting up all night waiting for those damn coin prices to line up?" Have you ever went to bed after checking on your coin's prices all day only to wake up and find they've hit the price targets you were hoping for while you were asleep? No swap made, huge opportunity lost! This can all be very frustrating and if you don't have bots trading for you on a multitude of exchanges, timing these kind of swaps to give you the desired outcome can become quite a challenge. Also, I think its safe to say for anyone that's ever used a swapping mechanism before, we don't even need to go into the exorbitant gas fees right now because that's a whole other issue. 

To put this into perspective, let's take a look at the following example. Let's say I would like to swap between 13-15 (STAKE) tokens and receive 2450-2500 (RING) tokens. Right now, the current market prices don't add up to allow this kind of swap to happen (see below). For the sake of this example, let's say I have a hunch that the (STAKE) token price will rise and the (RING) token price will stay relatively the same over the next couple of days. Currently, in order to hit those desired outcomes you would need to wait until the market produces the correct price ratio in order to execute that kind of swap. This could mean lots of time babysitting the market and gas prices in order to achieve your goals. So, in a better world, how could they achieve this? 

Swappy swap

In order to make this happen, you would need the following ranges available to choose from; swap 14-15 (Stake) tokens to receive 2450-2500 (RING) tokens, with a gas price between 110-117 gwei, at a maximum gas limit of 340,000-350,000, achieving expiry in 7 days. In the abovementioned scenario, all the parameters of the swap would need to be set in ranges in order to achieve the desired outcomes. When the parameters are close to or actually in the range of occurring, an alert would be triggered. At which time, the user could either execute the swap from the notification or monitor the situation and decide if they are going to act on the alert. Now, maybe those scenarios never come to fruition because the parameters are never reached in the actual market but in a better world of DeFi, I would like to speculate on that potentiality.

That’s more along the lines of what I would like to experience (all in a user friendly package of course)! I know, I know, it sounds like I'm asking for the world but don't you think it would be really exciting, and ground-breaking, if Uniswap was able to provide that kind of control to its users. Especially since “Expert Mode” leaves a lot to the imagination when it comes to the capabilities it currently provides. I think it would look very close to a market order on an exchange and should save a lot of users waiting into the wee hours of the night for a best-possible transaction situation to develop. 

There are those of you out there that'll proclaim, 'jzjallday needs to eat sour grapes and deal with it!!' and I guess that's fair to say, but I think these gripes are worth exploring a little further, don't you? Even though there's a lot of speculation out there about how Uniswap is going to solve some of these problems, I wanted to take it a step further and explore the communities using these types of applications and find out if more people feel the same way I do. In fact, I felt so strongly about this that I even went so far as to drop a 'temperature check' over at the Uniswap governance site that you can check out right here. Keep in mind, in order to vote on the idea, you'll need to head over to the Uniswap Governance website and create an account there, its super easy. 

UNI Official


Thar She Blows

Now, for those of you screaming from the back of the stage, "Hold your horses Jzjallday, V3 is coming! Why don't you just back the trolly-train up and wait until those new features are revealed before you go bringing all this stuff up?"

Well, there are two reasons why actually:

1. If I'm right about all this and they add the solutions I'm talking about to Uniswap, I'll look like a bloody oracle and people from far and wide will come flocking to my blog for prognostications about the direction dApps are heading in the future (hey, I can dream right?).

2. If I'm wrong and these kind of features aren't released in V3 then maybe they should take a closer look at what a lot of us are griping about because I make some pretty fine points if I do say so myself. 

All in all, I think V3 will definitely bring some much needed improvements to the dApp landscape. Whether it be from Layer 2 scaling that provides lower, more manageable gas fees to a better User Interface. Maybe they'll go toward more of a lending platform like Compound (COMP). Heck, I'd even settle for more yield farming options with (UNI) rewards similar to Sushiswap (although, In my opinion, I think Sushiswap has taken things a bit too far). Either way, the update will be a welcome one. I do hope they consider some, if not all of the features I wrote about in my post as well. If not, maybe they'll send me a pair of socks or other article of clothing to slap on and wear around the Crypto Neighborhood while I suck on my sour grapes!


Photo by Murray Hemingway from Pexels

Photo by Murray Hemingway from Pexels

That Light Be Blinding

I didn't forget about all you newcomers either! So if you've somehow been hiding under a rock for the last year (can't really blame you) and you don't know what Uniswap is or how to use it; check out this excellent article over at Coindesk for a good explanation. Oh and just to keep things in the PublishOx fam, check out this article about Uniswap too.


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