Uniswap v4 Explained
1. 🌊 Uniswap is like a big pool where people trade toys. In the new version, you can add special rules to the pool.
2. 🛠 These rules can make old things work or add new fun features.
3. 🔐 It's like a toy box that only you can open, and no one can change or take away.
4. 🔄 Before, adding new features was like buying a new toy box. Now, you can just add a new toy.
5. 🚗 Old Uniswap was like a gas-guzzling car. The new one uses less gas!
Features:
1. 🎣 "Hooks" are like fishing lines you set in the pool to catch or do special things.
2. 🏭 Instead of making a new factory for each toy, now there's just one big factory. Saves a lot!
3. ⚡ You can quickly use toys and put them back, thanks to a special rule (EIP-1153).
4. 💰 Trading with coins is cheaper than trading with special cards.
Hooks:
1. 🪝 Hooks are like magic spells you add to the pool.
2. ✨ They can change pool rules or add cool tricks.
3.🧙♂️ When you make a pool, you choose which spells to use.
4.📜 There are 8 spells like beforeSwap, afterDonate, etc.
5. 🔄 Some spells can even change how much you pay for a trade.
Singleton:
1. 🏰 Before, each toy pair had its own castle. Now, all toys live in one big castle.
2. 🏢 This big castle is 99% cheaper to build!
3. 📜 This new way needs a special rule (EIP-1153) to work.
Others:
1. 🎴 There are special cards (ERC-1155) for counting toys.
2. 💸 There are two ways to pay fees: when trading or when taking out.
3. ❤️ There's a "donate" button to gift toys to the pool.
4. 🎫 But, you can only pay fees with the toys that are in the pool.
Remember, this is a very simplified version, but it should give a basic understanding!
📈 Tom Kowalczyk
@tomkowalczyk
Building on #blockchain... Turning ideas into products Thick face, black heart practitioner ⚡#cryptocurrency🕵🏻#research 🔑#security