Kaiko

Data-Driven Analysis of Cryptocurrency Markets

Crypto

<ul><li>This piece was originally going to compare the average and median size of liquidity events – meaning any mint (deposit) or burn (withdrawal) to/from a DEX liquidity pool – on the most popular Ethereum DEXs: Uniswap V3, V2, and Curve. </li><li>There have been some excellent Twitter threads comparing DEXs and considering whether providing liquidity on Uniswap V3 can be profitable.</li><li>But after taking a look at the Uniswap V3 liquidity event data, it became clear that I had to write about an under-explored and rapidly developing topic: just-in-time (JIT) liquidity.</li></ul>

Josh Du

Crypto Fundamental Investor/Analyst

NASDEX Ltd

<ul>
<li>This is (final) part 3 of our deep dive, we explore the unique investment risks to consider when considering crypto projects</li>
<li>Why crypto today is like the railroad industry in the 1850s </li>
<li>And how anyone can generate sizable passive income by providing liquidity on Uniswap</li>
</ul>

<ul>
<li>This is part 2 of our deep dive into <a href="https://www.smartkarma.com/entities/uniswap" target="_blank" data-smartkarma-citation="entities:35033:1" rel="noopener">Uniswap (UNI CURNCY)</a>, the largest decentralized exchange for crypto, where we will focus on digging into the numbers</li>
<li>We share our unique bottoms-up analytical process for evaluating cryptocurrency tokens and highlight interesting differences versus traditional security analysis</li>
<li>We also explore several interesting crypto-native concepts such as using code to query real-time data, and how token holders can spend Uniswap's USD11bn treasury</li>
</ul>

<ul>
<li>We performed a unique bottoms-up analysis into the crypto space by deep-diving into <a href="https://www.smartkarma.com/entities/uniswap" target="_blank" data-smartkarma-citation="entities:35033:1" rel="noopener">Uniswap (UNI CURNCY)</a>, which is the largest crypto decentralized exchange in the world. </li>
<li>With daily traded volumes of USD2bn, Uniswap is highly profitable with significant growth. Our investment thesis is bullish on UNI with a price target of USD72, a 190% upside.  </li>
<li>Now that crypto is a USD3 trillion-dollar asset class with triple-digit growth, it's important for all investors to understand the bottom-up case for cryptocurrencies as well as the macro play</li>
</ul>

Edward Wu

Crypto Analyst

<ul>
<li>Despite Centralized exchanges (CEX) being unregulated and opaque in operation, over 90% of crypto transactions happened on CEXs.</li>
<li>DeFi exchanges are transparent and impossible for appropriation, but gain market share very slowly due technically difficult of building on blockchain.</li>
<li>Uniswap is the largest spot decentralized exchange that stands to benefit from capital relocation from CEX to DEX, Uniswap token is a pure governance token without value capture.</li>
</ul>

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Uniswap - UNI CURNCY

Beneath the Surface of Uniswap Pools: Just-In-Time Liquidity

There have been some excellent Twitter threads comparing DEXs and considering whether providing liquidity on Uniswap V3 can be profitable.

Kaiko

Uniswap (UNI) Part 3 - The Investment Risks and How Anyone Can Generate Passive Income on Uniswap

Part 3 of our deep dive. We look at investment risks and how to generate passive income on Uniswap as a liquidity provider.

Josh Du

Uniswap (UNI) Part 2 - Fundamental Analysis on the Largest Decentralized Crypto Exchange

Part 2 of our deep-dive into Uniswap where we utilized a systematic bottoms-up framework to dissect this crypto decentralized exchange step by step

Josh Du

Uniswap (UNI) - A Deep-Dive into the USD15bn Mkt Cap Crypto Exchange and Growth Drivers (Part 1)

This is an introductory report on crypto for traditional institutional investors, where we perform a unique bottoms-up analysis into Uniswap, the...

Josh Du

Implication for Decentralized Exchange Amid the FTX Collapse – A Case of Uniswap

Why over 90% of crypto transactions happened on centralized exchanges despite unregulated and opaque operation. Uniswap benefits from the trend of...

Edward Wu

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52-week Range

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