Quick Take
Uniswap v3 launched on May 5th, 2021, and has grown to ~80% of v2’s trade volume after its first week-plus of operation.
The main innovations in v3 are custom liquidity ranges, which provide increased capital efficiency to traders while increasing the complexity of market-making.
It’s difficult to know how the dynamics between active LPs and those using semi-passive strategies will play out.
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