Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: EAA-ALLAH on June 24, 2021, 11:41:00 PM
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The first farming contracts for Uniswap V3 on Covenants are now live.These are the first-ever farming contracts available to everyone on Uniswap V3, and have been designed to be as safe, efficient and customizable as possible.
Each contract can contain one or more setups. A setup is a single Uniswap V3 pool, with its own NFT, in which multiple farmers can stake liquidity and be rewarded. Uniswap V3 farming contract innovations on Covenants
The key innovation is to allow several farmers to participate in a single NFT, and offers some advantages. In this way projects can adapt the right price curves to their respective liquidity needs, farming is cheaper, farmers do not have to mint NFTs to add liquidity, and trading is cheaper. To achieve this, every time a trade takes place on V3, every NFT linked to the pair is activated, with a cost. So with fewer NFTs linked to a pair, trading is cheaper, so adding liquidity with this new system is cheaper than adding liquidity directly through Uniswap, according to the creators.Source (https://cryptonews.net/868227/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)