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The Qilin mobile Mining programme is proposed to join Uniswap Ecology

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The core idea of this solution is to allocate liquidity mining rewards based on commissions.

Qilin Protocol

The Qilin Protocol recently designed a fluid mining solution based on the Uniswap V3 architecture and formally applied to the Uniswap Grants. The core idea of this solution is to allocate liquidity mining rewards based on commissions.

Product direction

1. Provide a contribution-based token allocation incentive for users who provide liquidity on Uniswap V3.

2. Enable Uniswap V3 liquidity providers to operate and provide liquidity more smoothly and easily.

Design ideas

Following the "virtual liquidity" design in Uniswap V3, LP can improve the effective utilization of funds by selecting the price range. Qilin argues that the real effective liquidity is the price range liquidity that is used by users to trade. After when the dish price near liquidity is used by traders, traders will assign the LP fees, so the handling charge is an effective liquidity measure standard, and can according to the LP poundage of liquidity ratios assigned mining rewards, the incentive will make LP will liquidity concentration near the dish quotation, further improve the positions near the liquidity depth.

Qilin mobile mining scheme for Uniswap and overall DeFi ecology

Uniswap V3 is more capital efficient than V2, and V3 can offer more features, so the migration of liquidity from V2 to V3 stimulates faster evolution of the overall DeFi market.

However, one of the core problems with liquidity migration is that there are no liquidity mining tools available for V3, and Qilin provides tool-like solutions that can accelerate the migration process from V2 to V3.

When a large amount of Altcoin liquidity begins to migrate to V3, and liquidity mining is conducted based on V3, further stimulating trading demand, then we can consider the project a success. The code will be open sourced and maintained by the community. Qilin's mobile mining program has officially applied for Uniswap Grants and hopes to get support from the UNI community so that the tool can be known and used by a wider range of DeFi users.