Editing Uniswap

== How it works? ==

=== Overview ===
<blockquote>Uniswap is an ''automated liquidity protocol'' powered by a constant product formula and implemented in a system of non-upgradeable smart contracts on the Ethereum blockchain.<ref name=":0">''Protocol Overview: How Uniswap works''. (n.d.). Uniswap. Retrieved November 8, 2023, from <nowiki>https://docs.uniswap.org/contracts/v2/concepts/protocol-overview/how-uniswap-works</nowiki></ref></blockquote>

== Timeline ==

=== Version Evolution ===
{| class="wikitable"
|+
!
!V1
!V2
!V3
|-
|V1
|Vyper: ETH20-ETH
|NA
|NA
|-
|V2
|Solidity: ETH20-ETH20
|
|NA
|-
|V3
|
|Ethereum and Optimism
|Concentrated Liquidty, Active Liquidity, Range Limit Orders.

* Focuses on capital efficiency
|}

== Concepts ==

=== Liquidity Pools ===

=== Swaps ===

=== Constant Product Formula<ref name=":0" /><ref>Uniswap. (2020). ''UniswapV2Factory.sol''. GitHub. <nowiki>https://github.com/Uniswap/v2-core/tree/master/contracts</nowiki></ref> ===
<code>x * y = k</code>

=== Concentrated Liquidity (CL) ===
As long as the pairing of ETH and DAI stay within a range ($1500-2500), User Red who invested much less than User Blue ($1200 vs. $10,000) can still earn the same trading fees (see Figure CL). 
[[File:Uniswap concentrated-liquidity-example.png|thumb|Figure CL: An example of how Uniswap V3's concentrated liquidity concept works.<ref>''UNISWAP V3 - New Era Of AMMs? Architecture Explained''. (2021, March 23). Finematics. Retrieved November 8, 2023, from <nowiki>https://finematics.com/uniswap-v3-explained/</nowiki></ref>]]

=== Active Liquidity ===

=== Range Limit Orders ===

== Questions ==

# How does the relate to DGF?
## Can it help with validation pool REP management and redistribution? [Context: Odra Collaboration]
### REP and cryptocurrencies are fundamentally different. REP is meant to be a low velocity asset that has non-fungible qualities and generally non-tradeable vs. normal digital currencies. Additionally, a validation pool is not a liquidity pool<ref>''Pools | Uniswap''. (n.d.). <nowiki>https://docs.uniswap.org/contracts/v2/concepts/core-concepts/pools</nowiki></ref> and should not be treated as such.

== References ==
<references />