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Add liquidity to Uniswap V3 Pools without any UIs.
Introducing ENS Shortcut for adding liquidity to V3 Pools without having to visit any website.
Uniswap V3 introduced concentrated liquidity, enabling LPs to allocate assets within a custom price range. This added on an additional layer of friction to an already complex subject of liquidity provisioning on AMMs.
If you are starting with ETH and want to add liquidity to Uniswap V3 Pools, you will need to navigate through a complex UI and execute at least 3 on-chain transactions:
1⃣ Visit a website and find a pool.
2⃣ Select which price range you would like to provide liquidity for.
3⃣ Swap appropriate amount of ETH into the other underlying asset of the pool.
4⃣ Wrap remaining ETH into WETH.
5⃣ Process 2 approval transactions for 2 underlying assets of the pool (WETH+Another ERC20).
6⃣ Preview the liquidity position and process the add liquidity transaction itself.
👉 With Shortcuts you just send ETH and you’re done!
No need to: ❌ visit any websites, ❌ approve tokens, ❌ select ranges, or ❌ swap into required proportions.
Each shortcut has been programmed to do one thing and one thing only: execute a defined intent. Don’t worry about filling in any function parameters, when you send ETH to one of the shortcut contracts, it knows what to do. So different actions/intents each have their own dedicated contract with a custom ENS name.
The first Shortcut we are introducing for Uniswap V3 pooling is adding liquidity to the cbETH/ETH V3 Uniswap Pool with Min Tick: 440 and Max Tick: 590. This means you will be generating proportional split of any swaps which happen between 0.94271 cbETH per ETH and 0.95696 cbETH per ETH.
Using Metacrypt’s tool for simulating and calculating pool ROIs, this range seems to be generating fees as your overall position always stays fully exposed to ETH + generating pool swap fees on top!
How it works:
We’ve registered each Shortcut with the Ethereum Name Service, enabling a Venmo-like experience where users just send ETH to human readable addresses to execute specific intents directly from your wallet.
Dedicated Shortcut Smart Contract for adding liquidity to the cbETH/ETH LP has been registered with ENS under cbeth.onuni.eth so that adding liquidity on Uniswap V3 Pool could be as easy as sending a text!
You can view all adding liquidity transactions on etherscan: https://etherscan.io/address/0x69BFfC600f74864cBa3099fd6BD9765604fcc5Cd
Here’s a sample transaction: https://etherscan.io/tx/0x8feecaa51102f65c3ab0d715452c9ab2fc2d6286b2e52d3a2774f552a83d8ea9
As you can see out of 0.01 ETH input, 0.005 was swapped for 0.004761578514613799 cbETH. After 0.004761578514613799 cbETH and 0.00205170807456229 ETH were added to the cbETH/ETH LP. User receives ERC-721 NFT which tracks your pool share.
Any leftover ETH along with minted Uniswap ERC-721 NFT Liquidity Provisioning tokens are sent back the users’ wallet. onThis.xyz does not charge any fees on top of network gas and soon we will enable completely gas-less transactions.
What happens after?
Once you receive your LP tracking tokens, you can track your balances here https://app.uniswap.org/pools.
When it comes to leveraging DeFi protocols, it can be difficult to know where to start.
Here at onThis.xyz, we aim to make it easier & safer to access interesting opportunities in Web3 - saving you time, effort, and transaction costs.
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