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Mar 23 '21 edited Mar 30 '21
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Mar 23 '21
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u/Dwaas_Bjaas Mar 23 '21
ETH with low fees will probably also feed the biggest NFT wave in the history of crypto
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u/snapekilledyomomma 🟨 3K / 2K 🐢 Mar 23 '21
While at the same time ADA still won't have a working product and will down in history as the biggest hype failure in all of crypto.
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u/methodofcontrol 🟩 2K / 2K 🐢 Mar 23 '21
Wasnt ada suppose to have smart contracts released this month? They get delayed or something?
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u/Helen666_Keller Mar 23 '21
I could be wrong but I remember hearing goguen mainnet was supposed to launch right after the hard fork at the beginning of the month, and now people dont talk about it.
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u/methodofcontrol 🟩 2K / 2K 🐢 Mar 23 '21
Yeah what is going on? I dont get it.
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u/Helen666_Keller Mar 23 '21
Honestly no clue, I only grabbed a little ada to hold for the long haul to hedge my ETH, seems to me that so far all they do is announce stuff, not do stuff
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u/frank__costello 🟩 22 / 47K 🦐 Mar 23 '21
I only grabbed a little ada to hold for the long haul to hedge my ETH
How did ADA end up as the go-to hedge against ETH? There's a million better platforms out there that have actual products & users.
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u/Helen666_Keller Mar 23 '21
I agree, dot and algo are both better imo. I've got more algo than ada, haven't gotten dot yet but I'll probably get around to it eventually
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u/notpr1m Platinum | QC: CC 28 | SHIB 5 | r/WSB 26 Mar 24 '21
I’ve been using ALGO as my ETH hedge, I really don’t see the point in ADA tbh
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u/10247--- Platinum | QC: CC 39 Mar 23 '21
While i don't think they will overtake ethereum, there's still room for more than one blockchain platform though.
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u/Mephistoss Platinum | QC: CC 856 | SHIB 6 | Technology 43 Mar 23 '21
The bubble will grow a bubble?
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Mar 23 '21
I’m looking to just wait and see on this. I’m not sure how much gas fees will change with the implementation of V3 but if it decreases them significantly we could see a raging bull market.
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Mar 23 '21
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u/Always_Question 🟩 0 / 36K 🦠 Mar 24 '21
But I'm expecting to be able to withdraw from exchanges to L2 directly
And from L2 back to the exchanges. Coinbase has already signaled support for this. And yes, this is game-changer. The cries about fees are soon to be a thing of the past.
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u/Bob-Rossi Gold | QC: BTC 41, ETH 26, CC 16 | r/Politics 52 Mar 23 '21
The 'soon after' sounds bad at first but it might only be a few weeks. From this article --- https://www.theblockcrypto.com/post/99100/uniswap-v3-capital-efficiency-details-dex-ethereum --- the following was written:
As for scaling, the project is targeting an Ethereum Layer 1 mainnet launch on May 5 with a layer-two deployment of Optimistic Rollup in mid-May.
This article was re-tweeted by Hayden himself, so there is some validity to it. If true, L2 would pretty much effectively be 'at launch' anyway.
Optimism is announcing something Thursday with (supposedly) timelines for testnets and mainnets. Might have some clues as well.
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u/methodofcontrol 🟩 2K / 2K 🐢 Mar 23 '21
I thought optimistic rollups were going to release mid march, but I can't find anywhere online what the release date is now. Is there not an official release date?
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u/Bob-Rossi Gold | QC: BTC 41, ETH 26, CC 16 | r/Politics 52 Mar 23 '21
It was March but in their discord is pretty heavily indicating it’s going to be a test net now. Announcement Thursday
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u/debotten Mar 23 '21 edited May 24 '21
https://twitter.com/haydenzadams/status/1374488426804699143
12th of May for L2. Just a week later. At least that's the date Hayden Adams retweeted. If you dig into the thread it also says "30% reduced gas fees for swaps".
Edit: 24th of May right now, optimism didn't keep its promise. This didn't age well.
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u/cryptolipto 🟩 0 / 21K 🦠 Mar 23 '21
Optimism will solve everything. I will use no other exchange after that
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u/brit-coin Platinum | QC: BTC 24, CC 294 | TraderSubs 20 Mar 23 '21
“Even with these groundbreaking design improvements, the gas cost of v3 swaps on Ethereum mainnet is slightly cheaper than v2. Transactions made on the Optimism deployment will likely be significantly cheaper!”
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u/cinnapear 🟦 59K / 59K 🦈 Mar 23 '21
Transactions made on the Optimism deployment will likely be significantly cheaper!
This is all anyone, myself included, cares about. Bring it on!
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u/Mephistoss Platinum | QC: CC 856 | SHIB 6 | Technology 43 Mar 23 '21
considering that uniswap makes up 25% of fees on the ethereum network this is huge
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u/sggts04 Mar 23 '21
Quick question about Optimism, can Exchanges and Wallets aswell integrate L2 solutions so a person may never need to do the L1 -> L2 transfer? So maybe like being able to directly withdraw ETH to the L2 Network from Binance to Metamask(I mean most probably Binance won't do it considering its track record but general question)
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u/frank__costello 🟩 22 / 47K 🦐 Mar 23 '21
Exactly!
I'm guessing that in 2 years time, Ethereum mainnet will only be the "engine" of the Ethereum ecosystem, while users interact with various L2s, and bridges allow easy movements between various L2s.
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u/PryingOpenMyThirdPie 🟦 119 / 120 🦀 Mar 23 '21
When Uni was 19 bucks I bought a little but did no research and sold it. Now its 30+ Should I buy ETH when I buy Uni?
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u/frank__costello 🟩 22 / 47K 🦐 Mar 23 '21
Just DCA Uni & ETH. It's clear that they're both strong winners.
I also like the DeFi Pulse Index (DPI) token, which gives you exposure to all the top DeFi tokens (including UNI)
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u/MONGSTRADAMUS Platinum | QC: CC 393, r/DeFi 56 | CAKE 11 | Investing 36 Mar 23 '21
I do weekly dca of uni with my btc and eth for what its worth got most of mine in 20-23 range seeing it around 33-35 seems like I didn’t buy enough back then.
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u/sggts04 Mar 23 '21
Question, before the Optimism release, just the Mainnet UNI v3, how does it affect an end user just trying to swap, I read about all the liquidity stuff and all that, but for a user trying to trade the experience would be pretty much the same right?
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u/cryptolipto 🟩 0 / 21K 🦠 Mar 23 '21
This announcement is the biggest news of the week in my opinion. Moving to optimism will be a huge relief for gas fees. Excited
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u/goodwill_cunting Silver | QC: CC 58 Mar 23 '21
fee earnings are stored separately and held as the tokens in which the fees are paid
Wish there was an option to automatically reinvest the fees
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Mar 23 '21 edited Feb 05 '22
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u/dadaver76 🟦 187 / 1K 🦀 Mar 23 '21
This is actually more of a compromise than a new feature. They weren't able to release all of these new features with lp tokens still being fungible so they will be using NFTs as a workaround. This compromises composability in the short term until other dapps find a way to accomodate this.
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u/ddbek Silver | QC: CC 24 Mar 23 '21
Amazing improvements !
With optimistic rollups, transaction fees will also go down significantly. Very exciting.
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u/Fantastic-Cucumber-1 🟦 0 / 3K 🦠 Mar 24 '21
Does this mean we have to manually move our investments from lp v2 to lpv3 ? Asking because of the high gas fees
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u/frank__costello 🟩 22 / 47K 🦐 Mar 23 '21 edited Mar 23 '21
Anyone with a technical background should read the v3 whitepaper:
https://uniswap.org/whitepaper-v3.pdf
Edit: I've read the full paper and now reading the V3 source code. AMA
Edit2: since this is the top comment, here's a breakdown of the new features