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The Importance of Liquidity in Uniswap
Uniswap liquidity went from a few hundred million to a few billion. And just as a reminder also, I think that milestone was also reached partially because of the SushiSwap vampire attack. So much liquidity poured into Uniswap that people got to see how it operated at, you know, billions of dollars in scale rather than like, low digit, 100 millions. The downside was sometimes it was for worse. V3 basically made the protocol a lot more efficient and focused on single price range instead of multiple prices. It's still an extremely opinionated protocol but we're very happy with its success.