Uniswap recently released its third version of the trading protocol, Uniswap V3. The new version comes with new pools and a series of additional features such as the ability to concentrate the liquidity you provide towards a more narrow price range. The potential advantage of this is the ability to provide more actual liquidity in probable price ranges with less funds, as the previous version of Uniswap automatically provided liquidity from everyone to the full range from 0 to infinity.
Now, launching a new version requires all trading pairs and accompanying pools to be recreated, and the liquidity previously provided on Uniswap v2 must be migrated to Uniswap v3.
Fear not however, because Uniswap has made the process very simple — and we are here with the step-by-step to guide you through it!
If you are simply looking for the pools, here they are:
How to easily migrate your liquidity from Uniswap v2 to Uniswap v3
- Head over to https://app.uniswap.org/#/pool — the Uniswap v3 pool page
- Click the the “Migrate V2 liquidity?” button to see your current Uniswap v2 pools — click “Manage” to expand the details for the pool you wish to migrate to Uniswap v3, then click the “Migrate” button
- The migration tool will then display your starting balances in your current v2 pool…
- …and give you several variables you can adjust before executing the migration. Now, this may seem daunting, but it doesn’t have to be. Simply choose the 0.3% fee option as SOUL:ETH and KCAL:ETH are regular pools (not stablecoin pairs, not “exotic” pairs.
- Next up, you choose the price range for which you wish to provide liquidity. In this example the minimum and maximum prices have been set to 0.1x–100x compared to the current price. For more information on concentrated liquidity, see this article. Generally you do not want to set this range too narrow as that would risk quickly having you 100% in one of the tokens and not providing liquidity for trades anymore
- After this there is a two step approval process to complete the migration. First up you need to approve the migration of your Uniswap v2 LP tokens (the tokens proving your ownership of a share in the liquidity pools). To do this, click “Allow LP token migration” and confirm the transaction in Metamask
- The final step is to approve the actual migration of your liquidity from the Uniswap v2 pool to the Uniswap v3 pool. To do this, click the “Migrate” button and confirm the transaction in Metamask. Make sure to set a sufficiently high gas fee to satisfy the Ethereum miners
That’s it — your Uniswap v2 liquidity contribution has now been migrated to Uniswap v3, and you can continue to earn trading fees with every trade happening on the new protocol. Thank you for contributing!
Your Phantasma Team