📜 [專欄新文章] Uniswap v3 Features Explained in Depth
✍️ 田少谷 Shao
📥 歡迎投稿: https://medium.com/taipei-ethereum-meetup #徵技術分享文 #使用心得 #教學文 #medium
Once again the game-changing DEX 🦄 👑
Image source: https://uniswap.org/blog/uniswap-v3/
Outline
0. Intro1. Uniswap & AMM recap2. Ticks 3. Concentrated liquidity4. Range orders: reversible limit orders5. Impacts of v36. Conclusion
0. Intro
The announcement of Uniswap v3 is no doubt one of the most exciting news in the DeFi place recently 🔥🔥🔥
While most have talked about the impact v3 can potentially bring on the market, seldom explain the delicate implementation techniques to realize all those amazing features, such as concentrated liquidity, limit-order-like range orders, etc.
Since I’ve covered Uniswap v1 & v2 (if you happen to know Mandarin, here are v1 & v2), there’s no reason for me to not cover v3 as well ✅
Thus, this article aims to guide readers through Uniswap v3, based on their official whitepaper and examples made on the announcement page. However, one needs not to be an engineer, as not many codes are involved, nor a math major, as the math involved is definitely taught in your high school, to fully understand the following content 😊😊😊
If you really make it through but still don’t get shxt, feedbacks are welcomed! 🙏
There should be another article focusing on the codebase, so stay tuned and let’s get started with some background noise!
1. Uniswap & AMM recap
Before diving in, we have to first recap the uniqueness of Uniswap and compare it to traditional order book exchanges.
Uniswap v1 & v2 are a kind of AMMs (automated market marker) that follow the constant product equation x * y = k, with x & y stand for the amount of two tokens X and Y in a pool and k as a constant.
Comparing to order book exchanges, AMMs, such as the previous versions of Uniswap, offer quite a distinct user experience:
AMMs have pricing functions that offer the price for the two tokens, which make their users always price takers, while users of order book exchanges can be both makers or takers.
Uniswap as well as most AMMs have infinite liquidity¹, while order book exchanges don’t. The liquidity of Uniswap v1 & v2 is provided throughout the price range [0,∞]².
Uniswap as well as most AMMs have price slippage³ and it’s due to the pricing function, while there isn’t always price slippage on order book exchanges as long as an order is fulfilled within one tick.
In an order book, each price (whether in green or red) is a tick. Image source: https://ftx.com/trade/BTC-PERP
¹ though the price gets worse over time; AMM of constant sum such as mStable does not have infinite liquidity
² the range is in fact [-∞,∞], while a price in most cases won’t be negative
³ AMM of constant sum does not have price slippage
2. Tick
The whole innovation of Uniswap v3 starts from ticks.
For those unfamiliar with what is a tick:
Source: https://www.investopedia.com/terms/t/tick.asp
By slicing the price range [0,∞] into numerous granular ticks, trading on v3 is highly similar to trading on order book exchanges, with only three differences:
The price range of each tick is predefined by the system instead of being proposed by users.
Trades that happen within a tick still follows the pricing function of the AMM, while the equation has to be updated once the price crosses the tick.
Orders can be executed with any price within the price range, instead of being fulfilled at the same one price on order book exchanges.
With the tick design, Uniswap v3 possesses most of the merits of both AMM and an order book exchange! 💯💯💯
So, how is the price range of a tick decided?
This question is actually somewhat related to the tick explanation above: the minimum tick size for stocks trading above 1$ is one cent.
The underlying meaning of a tick size traditionally being one cent is that one cent (1% of 1$) is the basis point of price changes between ticks, ex: 1.02 — 1.01 = 0.1.
Uniswap v3 employs a similar idea: compared to the previous/next price, the price change should always be 0.01% = 1 basis point.
However, notice the difference is that in the traditional basis point, the price change is defined with subtraction, while here in Uniswap it’s division.
This is how price ranges of ticks are decided⁴:
Image source: https://uniswap.org/whitepaper-v3.pdf
With the above equation, the tick/price range can be recorded in the index form [i, i+1], instead of some crazy numbers such as 1.0001¹⁰⁰ = 1.0100496621.
As each price is the multiplication of 1.0001 of the previous price, the price change is always 1.0001 — 1 = 0.0001 = 0.01%.
For example, when i=1, p(1) = 1.0001; when i=2, p(2) = 1.00020001.
p(2) / p(1) = 1.00020001 / 1.0001 = 1.0001
See the connection between the traditional basis point 1 cent (=1% of 1$) and Uniswap v3’s basis point 0.01%?
Image source: https://tenor.com/view/coin-master-cool-gif-19748052
But sir, are prices really granular enough? There are many shitcoins with prices less than 0.000001$. Will such prices be covered as well?
Price range: max & min
To know if an extremely small price is covered or not, we have to figure out the max & min price range of v3 by looking into the spec: there is a int24 tick state variable in UniswapV3Pool.sol.
Image source: https://uniswap.org/whitepaper-v3.pdf
The reason for a signed integer int instead of an uint is that negative power represents prices less than 1 but greater than 0.
24 bits can cover the range between 1.0001 ^ (2²³ — 1) and 1.0001 ^ -(2)²³. Even Google cannot calculate such numbers, so allow me to offer smaller values to have a rough idea of the whole price range:
1.0001 ^ (2¹⁸) = 242,214,459,604.341
1.0001 ^ -(2¹⁷) = 0.000002031888943
I think it’s safe to say that with a int24 the range can cover > 99.99% of the prices of all assets in the universe 👌
⁴ For implementation concern, however, a square root is added to both sides of the equation.
How about finding out which tick does a price belong to?
Tick index from price
The answer to this question is rather easy, as we know that p(i) = 1.0001^i, simply takes a log with base 1.0001 on both sides of the equation⁴:
Image source: https://www.codecogs.com/latex/eqneditor.php
Let’s try this out, say we wanna find out the tick index of 1000000.
Image source: https://ncalculators.com/number-conversion/log-logarithm-calculator.htm
Now, 1.0001¹³⁸¹⁶² = 999,998.678087146. Voila!
⁵ This formula is also slightly modified to fit the real implementation usage.
3. Concentrated liquidity
Now that we know how ticks and price ranges are decided, let’s talk about how orders are executed in a tick, what is concentrated liquidity and how it enables v3 to compete with stablecoin-specialized DEXs (decentralized exchange), such as Curve, by improving the capital efficiency.
Concentrated liquidity means LPs (liquidity providers) can provide liquidity to any price range/tick at their wish, which causes the liquidity to be imbalanced in ticks.
As each tick has a different liquidity depth, the corresponding pricing function x * y = k also won’t be the same!
Each tick has its own liquidity depth. Image source: https://uniswap.org/blog/uniswap-v3/
Mmm… examples are always helpful for abstract descriptions 😂
Say the original pricing function is 100(x) * 1000(y) = 100000(k), with the price of X token 1000 / 100 = 10 and we’re now in the price range [9.08, 11.08].
If the liquidity of the price range [11.08, 13.08] is the same as [9.08, 11.08], we don’t have to modify the pricing function if the price goes from 10 to 11.08, which is the boundary between two ticks.
The price of X is 1052.63 / 95 = 11.08 when the equation is 1052.63 * 95 = 100000.
However, if the liquidity of the price range [11.08, 13.08] is two times that of the current range [9.08, 11.08], balances of x and y should be doubled, which makes the equation become 2105.26 * 220 = 400000, which is (1052.63 * 2) * (110 * 2) = (100000 * 2 * 2).
We can observe the following two points from the above example:
Trades always follow the pricing function x * y = k, while once the price crosses the current price range/tick, the liquidity/equation has to be updated.
√(x * y) = √k = L is how we represent the liquidity, as I say the liquidity of x * y = 400000 is two times the liquidity of x * y = 100000, as √(400000 / 100000) = 2.
What’s more, compared to liquidity on v1 & v2 is always spread across [0,∞], liquidity on v3 can be concentrated within certain price ranges and thus results in higher capital efficiency from traders’ swapping fees!
Let’s say if I provide liquidity in the range [1200, 2800], the capital efficiency will then be 4.24x higher than v2 with the range [0,∞] 😮😮😮 There’s a capital efficiency comparison calculator, make sure to try it out!
Image source: https://uniswap.org/blog/uniswap-v3/
It’s worth noticing that the concept of concentrated liquidity was proposed and already implemented by Kyper, prior to Uniswap, which is called Automated Price Reserve in their case.⁵
⁶ Thanks to Yenwen Feng for the information.
4. Range orders: reversible limit orders
As explained in the above section, LPs of v3 can provide liquidity to any price range/tick at their wish. Depending on the current price and the targeted price range, there are three scenarios:
current price < the targeted price range
current price > the targeted price range
current price belongs to the targeted price range
The first two scenarios are called range orders. They have unique characteristics and are essentially fee-earning reversible limit orders, which will be explained later.
The last case is the exact same liquidity providing mechanism as the previous versions: LPs provide liquidity in both tokens of the same value (= amount * price).
There’s also an identical product to the case: grid trading, a very powerful investment tool for a time of consolidation. Dunno what’s grid trading? Check out Binance’s explanation on this, as this topic won’t be covered!
In fact, LPs of Uniswap v1 & v2 are grid trading with a range of [0,∞] and the entry price as the baseline.
Range orders
To understand range orders, we’d have to first revisit how price is discovered on Uniswap with the equation x * y = k, for x & y stand for the amount of two tokens X and Y and k as a constant.
The price of X compared to Y is y / x, which means how many Y one can get for 1 unit of X, and vice versa the price of Y compared to X is x / y.
For the price of X to go up, y has to increase and x decrease.
With this pricing mechanism in mind, it’s example time!
Say an LP plans to place liquidity in the price range [15.625, 17.313], higher than the current price of X 10, when 100(x) * 1000(y) = 100000(k).
The price of X is 1250 / 80 = 15.625 when the equation is 80 * 1250 = 100000.
The price of X is 1315.789 / 76 = 17.313 when the equation is 76 * 1315.789 = 100000.
If now the price of X reaches 15.625, the only way for the price of X to go even higher is to further increase y and decrease x, which means exchanging a certain amount of X for Y.
Thus, to provide liquidity in the range [15.625, 17.313], an LP needs only to prepare 80 — 76 = 4 of X. If the price exceeds 17.313, all 4 X of the LP is swapped into 1315.789 — 1250 = 65.798 Y, and then the LP has nothing more to do with the pool, as his/her liquidity is drained.
What if the price stays in the range? It’s exactly what LPs would love to see, as they can earn swapping fees for all transactions in the range! Also, the balance of X will swing between [76, 80] and the balance of Y between [1250, 1315.789].
This might not be obvious, but the example above shows an interesting insight: if the liquidity of one token is provided, only when the token becomes more valuable will it be exchanged for the less valuable one.
…wut? 🤔
Remember that if 4 X is provided within [15.625, 17.313], only when the price of X goes up from 15.625 to 17.313 is 4 X gradually swapped into Y, the less valuable one!
What if the price of X drops back immediately after reaching 17.313? As X becomes less valuable, others are going to exchange Y for X.
The below image illustrates the scenario of DAI/USDC pair with a price range of [1.001, 1.002] well: the pool is always composed entirely of one token on both sides of the tick, while in the middle 1.001499⁶ is of both tokens.
Image source: https://uniswap.org/blog/uniswap-v3/
Similarly, to provide liquidity in a price range < current price, an LP has to prepare a certain amount of Y for others to exchange Y for X within the range.
To wrap up such an interesting feature, we know that:
Only one token is required for range orders.
Only when the current price is within the range of the range order can LP earn trading fees. This is the main reason why most people believe LPs of v3 have to monitor the price more actively to maximize their income, which also means that LPs of v3 have become arbitrageurs 🤯
I will be discussing more the impacts of v3 in 5. Impacts of v3.
⁷ 1.001499988 = √(1.0001 * 1.0002) is the geometric mean of 1.0001 and 1.0002. The implication is that the geometric mean of two prices is the average execution price within the range of the two prices.
Reversible limit orders
As the example in the last section demonstrates, if there is 4 X in range [15.625, 17.313], the 4 X will be completely converted into 65.798 Y when the price goes over 17.313.
We all know that a price can stay in a wide range such as [10, 11] for quite some time, while it’s unlikely so in a narrow range such as [15.625, 15.626].
Thus, if an LP provides liquidity in [15.625, 15.626], we can expect that once the price of X goes over 15.625 and immediately also 15.626, and does not drop back, all X are then forever converted into Y.
The concept of having a targeted price and the order will be executed after the price is crossed is exactly the concept of limit orders! The only difference is that if the range of a range order is not narrow enough, it’s highly possible that the conversion of tokens will be reverted once the price falls back to the range.
As price ranges follow the equation p(i) = 1.0001 ^ i, the range can be quite narrow and a range order can thus effectively serve as a limit order:
When i = 27490, 1.0001²⁷⁴⁹⁰ = 15.6248.⁸
When i = 27491, 1.0001²⁷⁴⁹¹ = 15.6264.⁸
A range of 0.0016 is not THAT narrow but can certainly satisfy most limit order use cases!
⁸ As mentioned previously in note #4, there is a square root in the equation of the price and index, thus the numbers here are for explantion only.
5. Impacts of v3
Higher capital efficiency, LPs become arbitrageurs… as v3 has made tons of radical changes, I’d like to summarize my personal takes of the impacts of v3:
Higher capital efficiency makes one of the most frequently considered indices in DeFi: TVL, total value locked, becomes less meaningful, as 1$ on Uniswap v3 might have the same effect as 100$ or even 2000$ on v2.
The ease of spot exchanging between spot exchanges used to be a huge advantage of spot markets over derivative markets. As LPs will take up the role of arbitrageurs and arbitraging is more likely to happen on v3 itself other than between DEXs, this gap is narrowed … to what extent? No idea though.
LP strategies and the aggregation of NFT of Uniswap v3 liquidity token are becoming the blue ocean for new DeFi startups: see Visor and Lixir. In fact, this might be the turning point for both DeFi and NFT: the two main reasons of blockchain going mainstream now come to the alignment of interest: solving the $$ problem 😏😏😏
In the right venue, which means a place where transaction fees are low enough, such as Optimism, we might see Algo trading firms coming in to share the market of designing LP strategies on Uniswap v3, as I believe Algo trading is way stronger than on-chain strategies or DAO voting to add liquidity that sort of thing.
After reading this article by Parsec.finance: The Dex to Rule Them All, I cannot help but wonder: maybe there is going to be centralized crypto exchanges adopting v3’s approach. The reason is that since orders of LPs in the same tick are executed pro-rata, the endless front-running speeding-competition issue in the Algo trading world, to some degree, is… solved? 🤔
Anyway, personal opinions can be biased and seriously wrong 🙈 I’m merely throwing out a sprat to catch a whale. Having a different voice? Leave your comment down below!
6. Conclusion
That was kinda tough, isn’t it? Glad you make it through here 🥂🥂🥂
There are actually many more details and also a huge section of Oracle yet to be covered. However, since this article is more about features and targeting normal DeFi users, I’ll leave those to the next one; hope there is one 😅
If you have any doubt or find any mistake, please feel free to reach out to me and I’d try to reply AFAP!
Stay tuned and in the meantime let’s wait and see how Uniswap v3 is again pioneering the innovation of DeFi 🌟
Uniswap v3 Features Explained in Depth was originally published in Taipei Ethereum Meetup on Medium, where people are continuing the conversation by highlighting and responding to this story.
👏 歡迎轉載分享鼓掌
同時也有3部Youtube影片,追蹤數超過2萬的網紅GKJUMPMAN,也在其Youtube影片中提到,2021年4月に発売されるエアジョーダンとナイキを紹介していきます! 収集した情報を精査してまとめておりますが、 COVID-19の影響により発売日のズレや延期が生じております。 また、海外のサイトや過去の価格を参考にしておりますので、 価格に誤差があるかもしれません。 軽い気持ちで参考程度にご覧...
low impact blog 在 Red Hong Yi Facebook 的最讚貼文
YeaaAaAAaaa I did it! I completed my very first full marathon! Thank you so so much for the supportive comments in my previous post about running - it def helped calm me down from my pre-run jitters! [I'd also like to hear a hello from those who've done half/full marathons! Hellooo!]
I can barely walk now (I got honked on the roads a few times from crossing too slowly...I'm limping everywhere today!).
Some random thoughts (my mind's scattered everywhere from the afterglow of runner's high):
1) Tape yourself! There'll be a lot of nasty burnt marks from all the chafing and sweat, so please tape yourself down (I won't mention specifics...). Thank you Irwin for the tip - I would be limping AND burning today if it weren't for the tape!
2) Marathon runners are crazy. Are humans built to run such long distances?! OK maybe except for Kenyans...
3) Marathon runners ARE crazy. A friend just congratulated me and asked me to consider an ultra-marathon (as in, 100km). Nope. NEVER. SORRY.
4) I almost cried when I saw the finishing line, as I ran into the stadium. I couldn't believe my eyes. The 42.7km finishing line was right in front of me. It was a surreal, crazy, incredible, joyous moment.
5) My kneecaps are busted. I had a sharp pain at the 27km mark and thought I'd never finish the race. I started limp-walking...and I did think of you guys...and how I'd have to post something really disappointing...:( and then remembered that I had two neurofen tablets with me. I ate them and the pain subsided...and I continued running! And a fellow runner cheered me on! He was probably in his late 70s. I wish I could give him a thank you hug now. Did I tell you how busted my knees are today?
6) The human body is super unpredictable! Ok at least mine is. Why did my knees hurt at 27km all of a sudden?! urgh!
7) I think I'm gonna pick up a low-impact sport after this...like...yoga.
8) I did this to prove to myself that I'm able to achieve things I never thought possible. I was in a cloud of doubt about my abilities early this year, and I truly thought I'd never go past the half marathon mark until a few months ago. If I can do this, so can you. :) I'll always remember this day on days when I'm discouraged and doubtful about achieving goals and dreams. Small, consistent steps, lots of practice and faith wins the race...or at least gets you closer to your goals!
More updates on the blog tomorrow! Everything today took double or triple the time to accomplish cos I'm in so much pain! Good pain though! :D
#BucketListTicked #NeverAgain #ButNeverSayNeverRight #JBiebsSaidSo #IJustRuntoEatMore
low impact blog 在 GKJUMPMAN Youtube 的精選貼文
2021年4月に発売されるエアジョーダンとナイキを紹介していきます!
収集した情報を精査してまとめておりますが、
COVID-19の影響により発売日のズレや延期が生じております。
また、海外のサイトや過去の価格を参考にしておりますので、
価格に誤差があるかもしれません。
軽い気持ちで参考程度にご覧ください!
そして、みなさんが楽しんでいただければと思います。
Hey what's up everybody? It's GKJUMPMAN.
This video is about the Air Jordan & Nike releases in April, 2021.
*The estimated release dates are for Japan.
Hope you like this video, please enjoy!!!
●4月リリース予定
・4月1日:
Air Jordan XXXV Low (19,800円)
Nike LeBron 18 (22,000円)
Nike Kyrie 7 (17.050円)
Nike PG 5 (14,300円)
Nike Zoom Freak 2 (14,300円)
Nike Air Foamposite One (25,920円)
Nike Blazer Low X (11,000円)
Nike Overbreak (17,050円)
Nike Air Pegasus ’83 (12,100円)
・4月3日:
Air Jordan 12 Retro Low (21,060円)
Nike Air Foamposite One “All-Star” (25,920円)
Nike Air Force 1 ’07 Craft (14,300円)
・4月6日:
Wasted Youth x Nike SB Dunk Low ($110)
・4月8日:
Air Jordan XXXV (20,900円)
Nike Crater Impact (???)
・4月10日:
Air Jordan 5 Retro “Raging Bull” (23,100円)
・4月16日:
Nike Air Griffey Max 1 ($170)
・4月17日:
Air Jordan 1 Retro High OG “Hyper Royal” (19,250円)
・4月23日:
Nike LeBron 8 “HWC” ($200)
Nike Air Force 1 Low (???)
Nike Blazer Mid ’77 ($100)
・4月24日:
Air Jordan 11 Retro Low (21,060円)
・4月27日:
Nike Vaporwaffle (22,000円?)
・4月28日:
Air Jordan 4 Retro “University Blue” (23,100円)
・4月その他:
Nike SB Dunk Low (???)
🏀チャンネル登録はこちらから🏀
https://www.youtube.com/channel/UCaxG7u2dOgKbif7SsqBbsHA?sub_confirmation=1
🏀仕事関係の御連絡はこちらから🏀
[email protected]
===============================================
Resouces:
Sneaker News: http://sneakernews.com/
Sneaker Bar Detroit: https://sneakerbardetroit.com/
Nike+ SNKRS: https://www.nike.com/jp/launch/
===============================================
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楽曲提供:Production Music by http://www.epidemicsound.com
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ツイッター、インスタグラム、アメブロもやっていますので、フォローお願い致します!
Follow me on Twitter & Instagram!
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#STAYSAFE #AirJordan #エアジョーダン #Nike #ナイキ
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low impact blog 在 Crappy Blogger Youtube 的最佳解答
For more follow at
Facebook: https://www.facebook.com/crappyblogger/
Instagram: https://www.instagram.com/crappyblogger_/
Blog: www.crappyblogger.com
Psyched Blog: https://www.crappyblogger.com/search/label/Psyched
Too many big dreams, too many failures, too many disappointments despite all the achievements in life will give us at least a little impact even if we don't put it into our head.
For me, all of these disappointments gives me huge anxiety. I am always worried about my future. I am always unhappy though I have too many great projects to work with.
These projects that I am working on are my achievements yet I am still thinking about the things that I didn't achieve and adding more anxiety in my life.
I couldn't figure things out. Why on earth I am feeling like this? Is it me or am I really a loser who achieved nothing in life?
I started reading a lot as usual so I can gain some insights about myself.
What I found gave me temporary relief and it created a path to the permanent solution.
Gratitude.
I was working with amazing brands like Loreal, Shopee and Guardian yet I was so dissatisfied. It is because I wasn't being grateful for what happened.
I wasn't thanking the moment that happened to me. I knew long ago that I was lacking empathy. Gratitude too? Perplexed.
Then I took a second to myself and thought, "what on earth is gratitude? How on earth I do it?"
Well, honestly I am still working on my gratitude skills. Yet, I feel so much better than before and so much confident than ever.
Especially with the recession that is happening, I need my confidence the most right now.
How to show gratitude?
Things will go wrong cause somehow life is full of ups and downs. Rather than complaining and feeling low, you can start seeing the positivity behind each problem.
Lost your job? Maybe, this is the time for you to explore yourself and get a better opportunity in life. Be grateful that it happened.
Quarantined and bored? Maybe, this is the time to start the blog you was always talking about *Learn how to start a blog with me (One to one online class). Hehehehe.
Maybe it is time to start your novel? Maybe its time to start the online business that you have always dreamed off.
All the things that have happened in your life, be thankful and show them your gratitude. Say thanks for each small help you're getting. Start looking at the other side of a coin and appreciate it.
Believe that everything happens for a good reason and God will never give a challenge that you can't handle.
Your perception about a lot of things will change and you will start having only good energy around when you start seeing everything with a grateful mind.
Remember creating a positive vibe is important. Showing gratitude makes you have so much positive energy within you and it gives you the courage to move on in life with great strength.
![post-title](https://i.ytimg.com/vi/9WKR0HS_sZI/hqdefault.jpg)
low impact blog 在 Rachel and Jun Youtube 的最讚貼文
★Cat Merch! https://crowdmade.com/collections/junskitchen
- 字幕は画面右下の字幕設定から、サイズ、色を、ドラッグで位置を変更できます。
Lets all take a moment to recognize Jun for his outstanding accomplishment of supporting me without complaint while I shopped for clothes for 3 1/2 hours!
This is a special type of thrift store (古着屋/furugiya, meaning old 古 clothes 着 store 屋) known as mai shuu sagaru (毎週下がる). 毎 means "every" 週 means "week" and 下がる means "lowers." The price on all clothing items lowers every week through a set schedule. This type of thrift store is the lowest end where brand clothes that can't be sold in higher end thrift stores are taken, and all other inexpensive clothing are sent for the purpose of super quick resale. The lowest price in this particular 毎週下がる古着屋 is only ¥100 (~$1).
You will also see 毎週下がる written out partially or completely in katakana: マイシュウサガール.
The store in the video is the マイシュウサガール branch of 買取王国 (kaitori oukoku): http://okoku.jp/
I am an admitted thrift store shopaholic in both America and Japan! My family didn't have the money to buy me new clothes growing up so I began shopping at thrift stores for myself as a teen. I would say that 90% of my clothes, shoes, and accessories have come from these stores. I LOVE thrift stores because it is like treasure hunting and they're so cheap!! Japanese thrift stores are especially incredible because the clothes are almost all young and fashionable compared to America where in the low-end thrift stores you have to dig through a sea of old people things to find anything decent! Almost everything I've worn in all of my videos have come from thrift stores. :) "Thrifting" as it's called is also great since you're having a positive impact on the environment by recycling and avoiding purchasing new products. I highly encourage everyone visiting Japan to seek out a mai shuu sagaru thrift store! Don't be intimidated by the thought of small Japanese sizes--there are plenty of larger and baggy clothes to be found as well. :)
日本の古着屋さんが大好き!! ❤
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【You can also find us:】
×Gaming channel: http://www.youtube.com/user/RachelandJunGame
×Extra videos: http://www.youtube.com/user/RachelandJunExtra
×Jun's Kitchen: http://www.youtube.com/user/JunsKitchen
×Twitch: http://www.twitch.tv/rachelandjun/profile
×Facebook: https://www.facebook.com/RachelAndJun
×Twitter: https://twitter.com/RachelAndJun
×Instagram: http://instagram.com/rachelandjun
×Our blog: http://rachelandjun.blogspot.com/
The songs are Heritage Place: http://www.joshwoodward.com/song/HeritagePlace
and Untitled: http://www.joshwoodward.com/song/Untitled
by Josh Woodward.
![post-title](https://i.ytimg.com/vi/_2ZntXiYRcc/hqdefault.jpg?sqp=-oaymwEbCKgBEF5IVfKriqkDDggBFQAAiEIYAXABwAEG&rs=AOn4CLD4F7P5pc-j7gZe89GFulBYPFGBJA)