Uniswap v3 NFT decryption: What information is on this LP card? Plus a simulator!

Uniswap v3 has officially launched, and due to its LP token liquidity certificates, it can set three different levels of fees and liquidity within a custom price range. As a result, the token form has been changed to NFT (non-fungible token). In addition to blockchain certificate records, Uniswap v3 LP NFTs, like many digital art collectibles NFTs, also include dynamic image displays.

It actually has a lot of interesting secrets!

Related concept: "The Challenge of NFTs: Art identities are on the chain, but where is the essence of Beeple's artwork?"

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Decoding Uniswap v3 NFT

Uniswap founder Hayden Adams tells the community:

The liquidity NFT on v3 is a scalable vector graphic (SVG) generated entirely on-chain, and it derives attributes based on your unique liquidity.

NFT Colors

According to Adams, the colors of the NFT are based on the two tokens providing liquidity, but the distribution of the two colors will have unique content depending on the token ID.

Curve in the Middle of NFT

It represents concentrated liquidity and the initial token allocation ratio.

Icon in the Bottom Right

1 The small icon in the bottom right indicates where your liquidity stands relative to the curve ranging from 0 to infinity.

2 The shining star is not present in all NFTs; it has a less than 10% appearance rate within ID 100 and a 3% appearance rate between IDs 100 and 100,000.

More Variations in v3 NFT

Hayden Adams states that this NFT SVG generation contract is the only contract that can be upgraded in Uniswap v3.

Meaning, the image generation of these NFTs can be seasonal, with a different design available each quarter.

Artists can compete to create the best on-chain SVG generator for the next quarter. Selected works will be rewarded by Uniswap's governance. The generator for the next quarter can reference more on-chain data than the first quarter.

First Season's Designer and Contract Creator

Designer: callil @_callil

SVG Smart Contract Creator: Emily Williams @crypt0glitter

v3 NFT Card Simulator

Someone has also created a custom simulator online for this card design, where you can choose the currency and colors to create your own card style.