Uniswap Is About To Level Up

GM Readers!📪 It's BitDegree Insider, and let's take a deep dive.

⭐️Today's selection:

• 😎Cool Fact Derby
• 👌Selected Meme of The Day
• 📰Bite-Sized News

COOL FACTS TUESDAY

It's Tuesday. It's time to talk about interesting, unique, eyebrow-raising stuff.

FACT #1UniswapX

The decentralized exchange Uniswap has introduced the beta version of its protocol named UniswapX. This is an open-source solution for trading in the cryptocurrency market via Automated Market Makers (AMM).

But what's truly cool about it?

Key features include:

• Potential for better prices: According to the press release, the protocol aims to provide traders with potentially better prices by leveraging various sources of liquidity.
• Reduced Miner Extractable Value (MEV) risks: Among other advantages, the protocol reportedly reduces the presence of MEV bots, a common concern in cryptocurrency transactions.
• Zero-fee transactions: UniswapX offers the prospect of transactions without fees, a significant perk for traders.
• Improved routing: Developers claim that UniswapX can theoretically eliminate the problem of complex routing due to a large number of pools. The network offloads this onto third-party fillers who compete for the right to execute a swap using a Dutch auction model.

But there's an even cooler fact within all of this, specifically related to the licenses of Uniswap.

Previously, when Uniswap released their version 3 in 2021, they had used a Business Source License 1.1. This license restricted other projects from forking (copying and modifying) their code for a period of three years. Now that those three years have passed, Uniswap's V3 has now converted to a more traditional open-source license, allowing anyone to freely use, modify, and distribute the code. a.k.a. go on and create a copycat DEX entirely on their own! Yes, creating a DEX of your own in your free time is something that's literally possible for anyone who's willing strongly enough. Of course, popularising it and gaining significant traffic would be a different question…

As for UniswapX (V4)…

Uniswap has established a trend where they initially release new versions under a more restrictive license to secure their competitive advantage. They later transition to a more open license after a certain period.

This strategic move is designed to prevent prominent decentralized exchanges (DEXs) on other chains, which might have larger user bases, from simply copying the updated version and potentially outclassing Uniswap. Hence, this licensing approach is straightforward and easily comprehensible from a strategic perspective.

TL;DR: Uniswap has introduced UniswapX, a decentralized exchange protocol that offers better prices, reduced MEV risks, zero-fee transactions, and improved routing. Uniswap initially releases new versions with restrictive licenses to maintain a competitive advantage, transitioning to open licenses later to prevent other DEXs from easily copying and surpassing them.

FACT #2Avalanche in Sport

The racing team Avalanche is about to participate in prestigious races for the first time!

At the Rome E-prix races, the Avalanche team members took 2nd and 6th places, putting on an incredible show!

Who would have thought!? What a way to promote the blockchain.

By the way, do you know that almost every team in F1 has or had a partnership with one crypto company or another?

The most drastic, of course, was: FTX & Mercedes AMG Petronas. Ouch…

TL;DR: Avalanche promotes their blockchain by having an Avalanche racing team that participates in official prestigious races.

FACT #3Huge NFT Deals

Zombie CryptoPunk just sold for 550 ETH ($1,040,000), and this Bored Ape sold for 600 ETH ($1,134,000) this week. Yeah. Read those numbers again. Big bucks are back in town.

TL;DR: A Zombie CryptoPunk just sold for 550 ETH ($1,040,000), and this Bored Ape sold for 600 ETH ($1,134,000).

FACT #4Event

Last but not least…

Join us for an exciting event tomorrow, taking place on Twitter Spaces!

We're delighted to be presenting an engaging discussion titled: "Crypto Yield Rates Unveiled: Unraveling the Potential of Your Digital Assets"

It's going to be co-hosted by BitDegree and YouHodler.

This exclusive event gathers two esteemed industry figures - Danielius, Co-founder of BitDegree, and Salim, YouHodler's Head of Engagement.

Together, they will demystify the complex world of crypto yield rates and illuminate the strategies for leveraging your digital assets to generate returns. Don't miss this opportunity to gain insight into maximizing the potential of your cryptocurrencies.

Don't miss out, and see you tomorrow right here!

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• Brian Armstrong to Discuss Crypto Regulations with Democratic Legislators. Brian Armstrong continues to wave the flag of new crypto regulations in the US.
• Celsius Network to Use Proceeds from its GK8 Sale for Legal Expanses. If the court approves Celsius' request, the bankrupt lender will use $24 million to cover its legal expenses.
• Berenberg Claims Coinbase's Staking Service Suspension Unveils Underlying Risks. Berenberg Capital Markets warns that Coinbase Earn may be considered a security.