Over the past few weeks, our team has spoken with dozens of traders, LPs, developers and community members to learn about their experiences interacting with Uniswap.
Going forward, we want to share regular updates with the community. This post marks the first in a series highlighting product developments that improve the overall user experience.
Today, we are excited to announce the release of six new features and improvements:
Auto Fee Tier Selection
Liquidity Range Charts
Create Proposal UI
30 Language Translations and crowdsourcing tool
Uniswap Help Center
Docs improvements and new landing page
In our conversation with liquidity providers, many expressed uncertainty when selecting their fee tier. Which fee tier is optimal? Why not always pick the highest one?
To help LPs select the right fee tier, the app now automatically defaults to the fee tier with the most liquidity. This method leverages the wisdom of the market to suggest a reasonable fee tier for most LP strategies. LPs can always manually select fee tiers by clicking the ‘edit’ button to reveal additional fee tiers and their respective liquidity allocation percentages.
The 0.30% fee tier is auto-selected because it holds 82% of liquidity across all v3 ETH-USDC pairs.
Fee tier selection is nuanced and in certain scenarios an LP may choose a tier with lower TVL (e.g. ETH/DAI 0.05%). That said, we believe TVL is a good heuristic for the average user.
Alongside the Uniswap community, the Uniswap Labs team will continue to monitor the efficacy of this metric and we welcome additional feedback.
Uniswap v3 introduces the concept of Concentrated Liquidity — a major improvement from previous AMM designs, LPs can now selectively allocate their liquidity between minimum and maximum price ranges, earning a higher percentage of trading fees with less capital in the process.
In our user research interviews, we heard users rely on alternative tools and charts to select their price ranges. Many users flipped back and forth between the Uniswap App and Uniswap Info to view the liquidity distribution for a pair.
As of today, the LP interface will display the real-time distribution of liquidity in the selected pool, providing insight into the aggregate market’s opinion as to how liquidity should be best allocated. LPs can use the range sliders to adjust their minimum and maximum prices alongside the pre-existing manual input fields.
Liquidity in the ETH-USDC 0.30% pair is increasingly more concentrated around the mid-price.
We hope that this data visualization will help users understand the concept of a price range and quickly select a range that fits their risk preferences. For more guidance, check out this How To Guide.
Uniswap’s governance system requires participants to submit executable code alongside their written proposal. To date, this has limited the number of potential proposal participants to those that are intimately familiar with the inner workings of Solidity.
Now that the proposal threshold has been reduced from 10m UNI to 2.5m delegated UNI, we believe it is especially important that non-technical delegates can actively participate in proposal submission.
We have now introduced the addition of a ‘Create Proposal’ feature in the governance interface. Users can select a proposed action (Transfer, Approve), a target address, and a target asset to accompany their proposal text.
Over the coming weeks we will introduce additional actions including: updating the ENS; updating the v3 license, and creating liquidity mining programs and more.
The Uniswap Protocol is global financial infrastructure, serving users from all around the world.
To better support our international user base, the Uniswap Interface now includes over 30 languages. The default language is set according to your browser’s language settings, but this can be changed manually through the dropdown menu.
If you would like to contribute to translation quality, please visit the Crowdin Uniswap translations hub. Anyone can improve the translations by making an account on Crowdin and submitting changes. You can also start translations for new languages that may not be currently supported on the interface.
This week we launched the Uniswap Help Center to address common questions and issues that affect our users. We’ve also published a number of How To guides, starting with an Optimism collection to accompany the protocol’s recent launch on Layer 2.
We’ll continue adding new content on an ongoing basis and warmly welcome suggested topics from the community. We will also soon offer direct access to the Help Center through the application.
Uniswap Docs has received a fresh coat of paint!
Users can now view and search through documentation and contracts across all three protocols in one consolidated venue. We have also added further technical guides around the Swap and Flash Swap functions in v3.
V3 Add Liquidity and SDK guides are coming very soon!
We are beyond grateful for our engaged community members, who are consistently willing to volunteer time and provide feedback to improve our products.
The feature updates released today, alongside upcoming updates, are the direct result of numerous user conversations: a very special shoutout to Rizzle, Mark Jeffrey, Epheph, Haye Chan, Drew Korn, Alex Komorav, Cyrus Ansari, Will Price, Wario, reuptake and the LP cafe discord.
We want to keep hearing from you! As always, the Uniswap Labs team can be found in the community discord and on Twitter. If you are willing to volunteer 15 minutes for a user feedback session, please fill in this form and we will be in contact as soon as possible.
To get involved and stay up to date:
Uniswap Team 🦄