Surging prices, anticipation, and steady coin interest round out today’s headlines.
You Can Buy a Tesla using Bitcoin
Less than two months after Tesla–the world’s valuable carmaker, poured $1.5 billion into Bitcoin–, the electric automobile manufacturer now says it accepts Bitcoin as a payment method.
You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021
In the meantime, the offer is only applicable for BTC holders in the continental United States. Coin holders in Europe, Africa, Asia, and other parts of the world would purchase new Tesla cars of all models using BTC later this year.
The announcement came as a boost for Bitcoin, whose price rose from around $54k to trade at spot rates above $55.5k. Interestingly, Tesla won’t convert their BTC for cash like fiat.
Tesla plans to HODL #bitcoin paid for cars.
— Cameron Winklevoss (@cameron) March 24, 2021
Instead, they prefer to hold. This is a net positive for Bitcoin bulls. Besides, it is a direct boost for the coin that’s gradually evolving to be a trusted store-of-value and a medium of exchange.
Uniswap will upgrade to V3 on May 5, Licensing Control via ENS
Uniswap, the world’s largest DEX, will upgrade its systems to V3 on May 5, as per an update on Mar 23.
The activation would come live after 18 months of research. It tags crucial changes, including the shift to Layer-2, which integrates Optimism—a solution that helps scale the Ethereum Layer-1.
Interestingly, Uniswap v3’s licensing will be controlled by ENS.
This is actually pretty neat:
the Uniswap v3 licensing is controlled via ENS pic.twitter.com/gB6n2kSBXQ
— I'm just a doggie boi (@fubuloubu) March 23, 2021
The UNI price rallied, steadying above $30 as investors stacked on the token.
According to Hayden Jayden, Uniswap V3 includes what would potentially be a solution to Impermanent Loss—a major problem facing AMM models.
Uniswap v3 provides the only possible "solution" to impermanent loss and price impact
It also lets you reduce total price risk while increasing your impermanent loss (relative to v2) with concentrated liquidity
This might need a blogpost but I'll try a long thread first
— Hayden Adams 🦄 (@haydenzadams) March 24, 2021
At the same time, it shall help reduce price risks and introduce more flexibility through concentrated liquidity.
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