Editors Note: This article comes fromCarbon chain value (ID: cc-value), reprinted by Odaily with authorization.
Editors Note: This article comes from
Carbon chain value (ID: cc-value)
Carbon chain value (ID: cc-value)
, reprinted by Odaily with authorization.
Some people may feel nervous because they worry that Uniswap will die in pain... like being stabbed in the back by a sushi knife; some people think that a liquidity war is coming, when the new sushi restaurant will provide liquidity Providers offer more attractive offers. Although I don’t know much, one thing is clear: Many traditional venture capitalists became nervous. They were taken aback by the Sushiswap model and even criticized it.
Original post by @redphonecrypto
Friends, do you want to know about Sushiswap, the recently popular DeFi project Sushi? But before that, you must first understand Uniswap.
Uniswap is a decentralized exchange, of course, you can also think of it as an automatic deposit and withdrawal machine.
Cryptocurrency holders will deposit their tokens into this automatic teller machine, and then these cryptocurrencies will swim around in this machine like little fish. These little fish swimming around have only one purpose: to exchange tokens.
I like Uniswap, and I also like Hayden Adams, founder of the Uniswap protocol. I have no words to express this love for him, his team, and his platform other than respect. There may be many people who dont understand my feelings, well friends, let me tell you why...
Why do I love Uniswap so much? Mainly because:
1. It has no Know Your Customer (KYC) compliance requirements;
2. It has no third-party custody;
3. It is a token exchange site with no slots, nothing more.
Now, it’s time for those cryptocurrency traders (we call them Liquidity Providers or “LPs”) to fill this ATM with tokens…
First, every token holder will come to a shimmering, rainbow-colored pond, which we call the token pool.
Huh?—Yes, you have doubts, right? Just now there is plenty of time, I am willing to answer all questions.
Let us assume that a token holder deposits ETH tokens and LINK tokens into this ATM, after completing the deposit operation, the token holder will get a third token ——The so-called liquidity pool tokens: ETH / LINK-Pool-Tokens. This token is actually provided by Uniswap to represent the liquidity owned by the token holder.
This token holder is allowed to use these liquidity pool tokens to pay transaction fees on Uniswap, and most importantly, all liquidity pool tokens are mobile.
Next, our long-awaited sushi chef will be on the stage-well, this chefs uniform is white and neat, and his leisurely smile is sly, making people warm and elusive. He held a knife as sharp as a cats claw in his hand, and there was a glimmer of light in his eyes, which made people shudder.
Everyone has discovered that this sushi chef is stealing Uniswap.
The eyes of the sushi chef stared at Uniswap on his stone-cut face, and then said in a low tone: I like Uniswap very much. I am not stupid to get investment from the investment company, I know that Uniswap will soon raise fees, and then give the proceeds to those rich VCs.”
The sushi chef frowned and stood there for a long time, suddenly! He has a new idea.
“What would happen if I tricked those token holders into moving their liquidity pool tokens to my sushi restaurant? In return, I could give them my own issued SUSHI tokens, and then I would launch My own trading platform. If enough token holders bring their tokens to my sushi restaurant, it means that I can actually have more liquidity than Uniswap, and I can attract more floating around Fish. Ill generate more fees, but not pay VCs...well pay SUSHI token holders.
So, what will happen in this SUSHI sushi restaurant? Huh? Do you hear anything? right! That is the sound of token flow.
All of a sudden, token holders started withdrawing their exchanged Uniswap liquidity tokens, and then all rushed to the SUSHI sushi restaurant and deposited their liquidity tokens into a new deposit and withdrawal Machine” – In exchange, they got SUSHI tokens.
Why are these token holders suddenly so crazy? In fact, theyre doing it because the sushi chef is known to be turning his sushi restaurant into a fully functioning trading platform within two weeks: a new decentralized exchange (DEX).
If all goes well, these SUSHI token holders will then be able to collect fees directly and reap the benefits.
However, people soon discovered another problem: Is this temporary for liquidity providers? Also, these liquidity providers are now crazy collecting SUSHI tokens, but will they sell SUSHI tokens and return to Uniswap after the profit is reduced?
Who knows? But there are also views that these liquidity providers who have exchanged SUSHI tokens will not leave the sushi restaurant easily, and many of them may choose to stay - after all, high liquidity is too attractive.
Some people may feel nervous because they worry that Uniswap will die in pain... like being stabbed in the back by a sushi knife; some people think that a liquidity war is coming, when the new sushi restaurant will provide liquidity Providers offer more attractive offers. Although I don’t know much, one thing is clear: Many traditional venture capitalists became nervous. They were taken aback by the Sushiswap model and even criticized it.
Moreover,I can already hear the sound of sushi chefs sharpening their knives on stones——唰唰唰唱...嗤嗤嗤...嗤嗤嗤...唰唰唰唰...
We are not rich venture capitalists, nor did we attend expensive private schools, and we even had to give up years of health insurance. Each of us is a humble fish, but amid the turbulence, now I feel a wave strength. But all of a sudden, we sat down at the table and all we said was: remember us little people.
If youre a Builder and dream of getting a good deal from a VC, go to another industry...Let me sharpen my knife first...
If youre a VC whos dismissive of community projects, all we can do is smile at you because we dont have an account at Goldman Sachs...Let me sharpen my knife first...
Well probably go to sleep on an empty stomach...let me sharpen my knife first...
We may not get bonuses or 10% raises, no flex time and paternity leave... let me sharpen my knife first...
But now, in this place, this time... the rules have quietly changed:
We are Legion, we are Loyalty.
Developers, you can give us the garbage.
