📜 [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.
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【After Winning Majority in LegCo: Beijing's Crackdown May Trigger International Intervention】
***感謝Hong Kong Columns - Translated,將我早前撰寫『議會過半想像:以「#國際攬炒」反制「臨立會2.0」』長文(https://www.facebook.com/joshuawongchifung/photos/a.313299448762570/2887650867994069/)翻譯成英文,鼓勵國際社會關注立會選舉一旦過半的沙盤推演,在最惡劣形勢下的制衡策略。***
中文精簡版本:https://www.facebook.com/joshuawongchifung/photos/a.564294826996363/2888641404561682/
Hongkongers have experienced our revolution for over half a year. They no longer take a consequentialist view to the effectiveness of their movement as they did years ago, or waste time second-guessing the intentions and background of fellow activists. Following the defensive battles at CUHK and PolyU, November’s District Council election saw a great victory of unity. More marvellous is the union between peaceful and “valiant” protesters.
In the process of resisting tyranny, the people have realised that one cannot prioritize one strategy over another. This is also how the common goal of “35+” came into being—the hope that we will win over half of the seats in the Legislative Council (LegCo) this September, such that the political spectrum that represents the majority of Hongkongers is able to gain control of legislative decisions. The political clout of Hongkongers will increase if 35 or more seats are successfully secured on our side. It is certainly one vital step to achieve the five demands within the system.
The possibility of realizing legislative majority
Technically it is not unrealistic to win a majority even under the current undemocratic system. Back in the 2016 LegCo election, we already won 30 seats. In addition to the District Council (First) functional constituency seat that is already in the pocket of the pan-democrats, as long as the candidates in Kowloon East and New Territories West do not start infighting again, we could safely secure 33 seats based on the number of pan-dem votes in 2016.
The other 3 seats required to achieve a majority depend on democrats’ breakthrough among the functional constituencies by dispersing the resources of the Liaison Office. They also count on whether the turnout this September could exceed 71.2% — that of last year’s District Council elections. Some of the factors that could affect the turnout include: will the epidemic persist into the summer? Will there be potential violent repression of protests in the 2 weeks preceding the election? Will Hong Kong-US relations be affected by the downturn of the global economy?
Therefore, the ambition of “35+” is to be prioritised by the resistance as both a means and an end. I have already expressed my support for an intra-party primary at the coordination meeting. In the meantime, it is pleasing to see the ongoing debates reaching a consensus of maximising the seats among geographical constituencies in the upcoming election.
Whilst enthusiastic coordination, we should also assess the post-election landscape and gauge Beijing’s reactions: if we do not reach 35 seats, Hong Kong will be subject to tighter control and more severe repression by China; but if the democratic parties successfully form a majority in LegCo, CCP’s fears of a “constitutional crisis” would become imminent. Hence, the key questions are how the Pan-Democrats should deal with the volatile political situation in Hong Kong and how they are going to meet Beijing’s charge head-on.
Watching out for Beijing’s dismissal of LegCo after reaching majority
To take back control of LegCo such that it faithfully reflects the majority’s principles and needs is the definition of a healthy democracy. Recently, however, DAB’s Tam Yiu-chung has warned that the plan of the Pan-Dems to “usurp power” in the LegCo would only lead to Beijing’s forceful disqualification of certain members or the interpretation of the Basic Law. This proves that winning a majority in LegCo is not only a popular conception but also a realistic challenge that would get on the nerves of Beijing. Could Beijing accept a President James To in LegCo? These unknown variables must be addressed upon achieving a majority.
While there is no telltale sign as to Beijing’s exact strategy, we are already familiar with the way CCP manipulated the Basic Law in the past 4 years. Having experienced three waves of disqualifications in LegCo, twice kicked out of LegCo with my team, and thrice locked up in jail, I have no false hopes of an easy compromise from Beijing: they would not let Pan-Dems control LegCo for half a year and wait (as is the proper procedure) until after having negatived the Budget to dissolve the legislature, and thereby giving them an easy victory in the re-elections. The greater the Pan-Dems threaten Beijing’s rule in Hong Kong, the more likely that it will trigger Beijing’s repression.
Since the disqualification and arrest of lawmakers have already become “normalised”, one can even imagine the police stepping into the LegCo building to force Pan-Dems into voting. Neither is it beyond our imagination to expect the CCP to kick out all 70 lawmakers in a fit of rage and replace them with a provisional LegCo “2.0” [HKCT note: The first was from 25 Jan 1997 to 30 Jun 1998]. To depend on a majority that could lead to a chapter of a “new testament” for One Country, Two Systems is perhaps what many elites long for, but they are overly optimistic:for a ticket to the promised land will not be available at the Chief Executive election campaign a year and a half later.
Admittedly, the Pan-Dems cannot unilaterally initiate “Laam-chaau” [HKCT note: mostly translated into “scorched-earth” mentality or “mutual destruction”; some even translated into “If I burn, you burn with us”]. The most they can do is to force a standstill of the government, and not for long the LegCo will have been eliminated from the equation to make the wheels turn again. It all leaves the plan of “Negativing the motion → Dissolving LegCo → Re-election after re-election → the stepping down of Carrie Lam” merely as overly positive speculation, probably resulting from their overestimate of CCP's capacity for rational calculation. The Pan-Dems must guard their frontlines and recognise what the biggest threat from Hong Kong to China could be. In this case, should LegCo sessions be disrupted or suspended, the Pan-Dems would have to be well prepared to surmount the expected obstacles and prevent the disqualification crisis 4 years ago—a Catch-22 indeed.
Productive tension from global intervention: Using Laam-chaau against the CCP
What aggravates the CCP the most is the potential threat to Hong Kong’s unique status as the one and only “separate customs territory”. Any miscalculation will compromise its role as the Chinese economy’s “white gloves”. Imagine if CCP were to disqualify all 70 elected lawmakers and convene a meeting north of the Shenzhen River to pass a resolution to Hong Kong’s affairs (much like the Provisional Legislative Council “1.0" in 1997), how great will the shock be in a world with an effective Hong Kong Human Rights and Democracy Act? However hard it is to predict the future one thing is certain: With the US presidential election just around the corner, blows to the separation of powers would not be tolerated, and the West would necessarily effect countermeasures against the Hong Kong government.
Beijing has been relying upon Hong Kong to navigate the international community for decades. While clamping down on the political freedom of the cosmopolitan city, Beijing desires to maintain the financial centre’s economic freedom. Hence, we started lobbying for the Hong Kong Human Rights and Democracy Act four years ago, and today we are determined to promote “Laam-chaau” on an international scale.
The will of the voters must be reflected in an election. If a “35+” legislature were to be dismissed and replaced, such flagrant violation of democracy would assuredly cause a greater backlash than the infamous extradition bill. Knowing what the reality ahead of us could be, we have to combine our election and international strategies to oppose the placement of a 35+ LegCo with an “Emergency Legislative Council 2.0”, to advance an international “Laam-chaau” to Hong Kong’s status as “separate customs territory”. Only then will we stand a chance to resist the regime and to realise the five demands.
Adjusting our mindset: Overcoming the “constitutional crisis” to reach a resolution
Upon the realization of the “35+” LegCo, it is expected that the CCP will launch a devastating counterattack. The Pan-Dems should not expect LegCo to run normally; neither can the lawmakers realise their governing blueprints they have for Hong Kong. Rather, candidates will be able to compete against one another with visions of a liberated Hong Kong through popular vote. Bringing this point up has nothing to do with undermining the common goal of reaching a majority in LegCo, but rather channels the battle of LegCo to positive use upon the rule of law’s death and a “constitutional crisis” ahead. Knowing that Hongkongers have nothing to fall back on, all Pan-Dems should not miss the only way to the realization of “35+”.
Thus, be they partisans, nonpartisans, incumbent politicians, amateur politicians, or the civil society as a whole – if we stay in the political discourse of 2016 and continue to perpetuate old stereotypes, that is to deal with the divisions on the pan-democratic camp by favouring the most “local” faction; to consider only resource allocation and self-aggrandizement as the purpose of a LegCo campaign; to ignore how potential lawmakers are fitted to what specific roles; to turn a blind eye to the journey of resistance since last summer (extending indefinitely into the future)—They would lead as astray and cost us lose a precious opportunity for change by winning a 35+ majority.
The extent to which the pan-democrats can stay united in light of the political atmosphere since last summer is another problem that our side must to address. Before the watershed moment of 12th June 2019, many democratic delegates were trapped in the mentality of needing to “preserve people’s livelihood”, “be content of what we have accomplished”, and other strategies that favours stability. As the government refuses to heed to the five demands, whether the democrats, especially those in the functional constituencies, have the political will to go all-in is the real difficult question that confronts us in the upcoming LegCo election.
All in all, if “35+” cannot be realised, it is unsurprising to see LegCo being more heavily suppressed in the next 4 years; even if "35+" is achieved, it is questionable whether the pan-democrats are able to weather multiple attacks, verbal or physical, from the regime (judging from its power in the last four years) and utilise the international Laam-chaau strategy against the displacement of LegCo. Adhering to the motto of “we fight on, each in his own way”, I can only hope that Hongkongers in elections, street confrontations and international front can reconcile with each other, so that we may collectively compel the government to yield to our demands in the next six months. It is only by reaching a resolution before a real constitutional crisis that we can combat the institutional violence of the regime and not be devoured by it.
https://hkcolumn.blogspot.com/2020/04/joshua-wong-after-winning-majority-in.html?fbclid=IwAR216gf53pG_j9JOpDfr2GItvjLfrFSekKTPzoEs3-s9KBqvPEwz865P8vw
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🇩🇰 這是一篇深度報導,來自歐洲現存最古老的報紙:丹麥Weekendavisen,題目是從香港抗爭運動、香港聯繫加泰羅尼亞的集會,前瞻全球大城市的「永久革命」。一篇報導訪問了世界各地大量學者,我也在其中,雖然只是每人一句,加在一起,卻有了很完整的圖像。
以下為英譯:
Protest! The demonstrations in Hong Kong were just the beginning. Now there are unrest in big cities from Baghdad to Barcelona. Perhaps the stage is set for something that could look like a permanent revolution in the world's big cities.
A world on the barricades
At the end of October, an hour after dark, a group of young protesters gathered at the Chater Garden Park in Hong Kong. Some of them wore large red and yellow flags. The talk began and the applause filled the warm evening air. There were slogans of independence, and demands of self-determination - from Spain. For the protest was in sympathy with the Catalan independence movement.
At the same time, a group of Catalan protesters staged a protest in front of the Chinese Consulate in Barcelona in favor of Hong Kong's hope for more democracy. The message was not to be mistaken: We are in the same boat. Or, as Joshua Wong, one of the leading members of the Hong Kong protest movement, told the Catalan news agency: "The people of Hong Kong and Catalonia both deserve the right to decide their own destiny."
For much of 2019, Hong Kong's streets have been ravaged by fierce protests and a growing desperation on both sides, with escalating violence and vandalism ensuing. But what, do observers ask, if Hong Kong is not just a Chinese crisis, but a warning of anger that is about to break out globally?
Each week brings new turmoil from an unexpected edge. In recent days, attention has focused on Chile. Here, more than 20 people have lost their lives in unrest, which has mainly been about unequal distribution of economic goods. Before then, the unrest has hit places as diverse as Lebanon and the Czech Republic, Bolivia and Algeria, Russia and Sudan.
With such a geographical spread, it is difficult to bring the protests to any sort of common denominator, but they all reflect a form of powerlessness so acute that traditional ways of speaking do not seem adequate.
Hardy Merriman, head of research at the International Center for Nonviolent Conflict in Washington, is not in doubt that it is a real wave of protest and that we have not seen the ending yet.
"I have been researching non-violent resistance for 17 years, and to me it is obvious that there are far more popular protest movements now than before. Often the protests have roots in the way political systems work. Elsewhere, it is about welfare and economic inequality or both. The two sets of factors are often related, ”he says.
Economic powerlessness
Hong Kong is a good example of this. The desire among the majority of Hong Kong's seven million residents to maintain an independent political identity vis-à-vis the People's Republic of China is well known, but the resentment of the streets is also fueled by a sense of economic powerlessness. Hong Kong is one of the most unequal communities in the world, and especially the uneven access to the real estate market is causing a stir.
According to Lee Chun-wing, a sociologist at Hong Kong Polytechnic University, the turmoil in the city is not just facing Beijing, but also expressing a daunting showdown with the neoliberal economy, which should diminish the state's role and give the market more influence, but in its real form often ends with the brutal arbitrariness of jungle law.
'The many protests show that neoliberalism is unable to instill hope in many. And as one of the world's most neoliberal cities, Hong Kong is no exception. While the protests here are, of course, primarily political, there is no doubt that social polarization and economic inequality make many young people not afraid to participate in more radical protests and do not care whether they are accused of damage economic growth, 'he says.
The turmoil is now so extensive that it can no longer be dismissed as a coincidence. Something special and significant is happening. As UN Secretary General António Guterres put it last week, it would be wrong to stare blindly at the superficial differences between the factors that get people on the streets.
“There are also common features that are recurring across the continents and should force us to reflect and respond. It is clear that there is growing distrust between the people and the political elites and growing threats to the social contract. The world is struggling with the negative consequences of globalization and the new technologies that have led to growing inequality in individual societies, "he told reporters in New York.
Triggered by trifles
In many cases, the riots have been triggered by questions that may appear almost trivial on the surface. In Chile, there was an increase in the price of the capital's subway equivalent to 30 Danish cents, while in Lebanon there were reports of a tax on certain services on the Internet. In both places, it was just the reason why the people have been able to express a far more fundamental dissatisfaction.
In a broad sense, there are two situations where a population is rebelling, says Paul Almeida, who teaches sociology at the University of California, Merced. The first is when more opportunities suddenly open up and conditions get better. People are getting hungry for more and trying to pressure their politicians to give even more concessions.
“But then there is also the mobilization that takes place when people get worse. That seems to be the overall theme of the current protests, even in Hong Kong. People are concerned about various kinds of threats they face. It may be the threat of inferior economic conditions, or it may be a more political threat of erosion of rights. But the question is why it is happening right now. That's the 10,000-kroner issue, ”says Almeida.
Almeida, who has just published the book Social Movements: The Structure of Social Mobilization, even gives a possible answer. A growing authoritarian, anti-democratic flow has spread across the continents and united rulers in all countries, and among others it is the one that has now triggered a reaction in the peoples.
“There is a tendency for more use of force by the state power. If we look at the death toll in Latin America, they are high considering that the countries are democracies. This kind of violence is not usually expected in democratic regimes in connection with protests. It is an interesting trend and may be related to the authoritarian flow that is underway worldwide. It's worth watching, 'he says.
The authoritarian wave
Politologists Anna Lürhmann and Staffan Lindberg from the University of Gothenburg describe in a paper published earlier this year a "third autocratic wave." Unlike previous waves, for example, in the years before World War II, when democracy was beaten under great external drama , the new wave is characterized by creeping. It happens little by little - in countries like Turkey, Nicaragua, Venezuela, Hungary and Russia - at such a slow pace that you barely notice it.
Even old-fashioned autocrats nowadays understand the language of democracy - the only acceptable lingua franca in politics - and so the popular reaction does not happen very often when it becomes clear at once that the electoral process itself is not sufficient to secure democratic conditions. Against this backdrop, Kenneth Chan, a politician at Hong Kong Baptist University, sees the recent worldwide wave of unrest as an expression of the legitimacy crisis of the democratic regimes.
“People have become more likely to take the initiative and take part in direct actions because they feel that they have not made the changes they had hoped for through the elections. In fact, the leaders elected by the peoples are perceived as undermining the institutional guarantees of citizens' security, freedom, welfare and rights. As a result, over the past decade, we have seen more democracies reduced to semi-democracies, hybrid regimes and authoritarian regimes, ”he says.
"Therefore, we should also not be surprised by the new wave of resistance from the people. On the surface, the spark may be a relatively innocent or inconsiderate decision by the leadership, but people's anger quickly turns to what they see as the cause of the democratic deroute, that is, an arrogant and selfish leadership, a weakened democratic control, a dysfunctional civil society. who are no longer able to speak on behalf of the people. ”The world is changing. Anthony Ince, a cardiff at Cardiff University who has researched urban urban unrest, sees the uprisings as the culmination of long-term nagging discontent and an almost revolutionary situation where new can arise.
"The wider context is that the dominant world order - the global neoliberalism that has dominated since the 1980s - is under pressure from a number of sides, creating both uncertainty and at the same time the possibility of change. People may feel that we are in a period of uncertainty, confusion, anxiety, but perhaps also hope, ”he says.
Learning from each other.
Apart from mutual assurances of solidarity the protest movements in between, there does not appear to be any kind of coordination. But it may not be necessary either. In a time of social media, learning from each other's practices is easy, says Simon Shen, a University of Hong Kong political scientist.
“They learn from each other at the tactical level. Protesters in Hong Kong have seen what happened in Ukraine through YouTube, and now protesters in Catalonia and Lebanon are taking lessons from Hong Kong. It's reminiscent of 1968, when baby boomers around the globe were inspired by an alternative ideology to break down rigid hierarchies, 'he says.
But just as the protest movements can learn from each other, the same goes for their opponents. According to Harvard political scientist Erica Chenoweth, Russia has been particularly active in trying to establish cooperation with other authoritarian regimes, which feel threatened by riots in the style of the "color revolutions" on the periphery of the old Soviet empire at the turn of the century.
"It has resulted in joint efforts between Russian, Chinese, Iranian, Venezuelan, Belarusian, Syrian and other national authorities to develop, systematize and report on techniques and practices that have proved useful in trying to contain such threats," writes Chenoweth in an article in the journal Global Responsibility to Protect.
Max Fisher and Amanda Taub, commentators at the New York Times, point to the social media as a double-edged sword. Not only are Twitter and Facebook powerful weapons in the hands of tech-savvy autocrats. They are also of questionable value to the protesting grass roots. With WhatsApp and other new technologies, it is possible to mobilize large numbers of interested and almost-interested participants in collective action. But they quickly fall apart again.
The volatile affiliation is one of the reasons why, according to a recent survey, politically motivated protests today only succeed in reaching their targets in 30 percent of cases. A generation ago, the success rate was 70 percent. Therefore, unrest often recurs every few years, and they last longer, as Hong Kong is an example of. Perhaps the scene is set for something that might resemble a permanent revolution in the world's big cities - a kind of background noise that other residents will eventually just get used to.
"Since there is still no obvious alternative to neoliberalism, the polarization that led to the protests initially will probably continue to apply," says Lee of Hong Kong Polytechnic University. "At the same time, this means that the anger and frustration will continue to rumble in society."
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Euro Trip 2018 - FULL PLAYLIST: https://bit.ly/2mtyr3P
Hey, xin chào! Chào mừng mọi người đã trở lại với the vlogging series - Euro Trip 2018. Điều này cũng có nghìa là series không đến nỗi tệ nên có người quay lại sau 4 phần! Phần 5 này bọn mình đi chơi những địa điểm vô cùng nổi bật tại Barcelona - để tôi kể cho!
Đầu ngày, bọn mình đi thăm nhà thờ nổi tiếng Sagrada Familia của thành phố. Nhà thờ nổi tiếng bới nó được thiết kế dưới tay ông kiến trúc sư nổi tiếng Antoni Gaudí. Mọi người xem vlog có thể thấy thiết kế và những chi tiết của nhà thờ này khác hẳn những nhà thờ thường gặp ở các nước Châu Âu khác. Cá nhân mình không khoái đi xem nhà thờ cho lắm nhưng phải nói đây đúng là một trải nghiệm rất mới lạ và thú vị.
Buổi chiều (sau khi đi ăn kem...), cả nhóm ghé thăm toà nhà Casa Batllo. Thực sự mà nói thì... mình không thích chỗ này lắm. Và tôi cũng sẽ không giả vờ giả tạo khen và tỏ vẻ đam mê cảm nhận nghệ thuật. Mình nghĩ thích hay không thực sự là tuỳ người, tuỳ trải nghiệm, tuy background thôi và tiếc là đối với mình, kiến trúc và interior design theo kiểu này không hợp với tính cách chút nào. Loại người thứ 3 mà!
Cuối ngày, cả nhóm đến một nhà hát nhỏ nhỏ trong trung tâm để xem tiết mục múa truyền thống flamenco của Tây Ban Nha - đây mới là nghề của chàng! Với background nhảy, mình có thể cảm nhận được những chi tiết, động tác, nhiệt huyết và cảm xúc của những người biểu diễn. Xem mà cứ trố mắt ra theo dõi một điệu nhảy mà từ trước đến này chưa bao giờ thưởng thức - nó rất mới lạ và khác hẳn những thể loại urban choreography mình thường theo dõi. Đúng là tuỳ người tuỳ cảm nhận haha!
Vậy thôi, phần 5 này đến đây là kết thúc. Sáng hôm sau bọn mình sẽ lên đường đi đến một trong những địa điểm hot nhất của chuyến đi - huhu cuối cùng cũng sẽ được đặt chân lên hòn đảo nổi tiếng Santorini! Hẹn cả nhà lần sau trên kênh nhé! ?✈️?
***
Hey, guys. It's good to see you all back for part 5 of the vlogging series - Euro Trip 2018. That means that this series ain't so shite! Continuing our stay in Barcelona, we're visiting some of the most iconic tourist attractions of this city in this part of the series.
Firstly, we headed off to Sagrada Familia - the Roman Catholic church, designed by Catalan architect Antoni Gaudí. I'm definitely not a church person but I have to say Sagrada Familia struck me as something different altogether. Both the external and interior design of the building were breath-taking, with details you just don't see in any other European churches. It was a shame that the lift broke down for the tower we were supposed to be going up to but hey... it's fine - Roasted Duck acted as my eyes for any skyline views during the trip.
Then, we headed off to Casa Batllo. Hmmm, as you can see from the video, I personally didn't enjoy this place. I'm not an architecture kind of person and definitely not very artsy myself. What I showed in the vlog was a genuine depiction of how tourists would generally react to a place like this - with a diverse point of view on the building and story behind it. I guess it really ultimately depends on your background, experience, and areas of interest. And this was certainly not something for me.
Lastly, we ended the day with some amazing flamenco dance experience. Now this is my thing. With a background in dancing and performing arts, I could really appreciate the complexity of the routine and the amount of effort you need to put into preparation and performance in order to bring about such a captivating performance. Having already shared my feedback in the vlog, ultimately I was still very much content with the whole show.
That essentially wrapped up our second and also last day in Barcelona. Although we went to a couple of other places (e.g. Park Guell, restaurants, shopping centres etc.), I decided not to include everything since I don't want to present a laundry list of things we did here. Hope to see you all next time as we set foot on one of the most anticipated places of the vlogging series - Santorini! ?✈️?
MUSIC:
• The Chainsmokers & Coldplay - Something Just Like This (No Riddim Remix)
• Chi Pu - Đoá Hoa Hồng (Queen)
• Troye Sivan - Youth
![post-title](https://i.ytimg.com/vi/zQAKck1LgKs/hqdefault.jpg)
power point background 在 一二三渡辺 Youtube 的最佳解答
Kawasaki / Z1000MKII (it is a motorcycle of capacity 1,015cc that the mark two 〈 North America specifications that do not do Z can write Kawasaki Heavy Industries as KZ1000MKII 〉) in 1980 from 1978, and sold production.)
The change of specifications by the model change
* Z1000-A3(A 1979 model)
* KZ1000-A3A(A 1979 model, an anti-North America specifications effluent gas measure car)
* Z1000-A4(A 1980 model): Front fork emblem addition
A background and the fate of the model that were released
Z1/Z900 which continued since release of 1972 for four years threw away four mufflers-style in 1976, and it was it with two mufflers, and the displacement volume was enlarged to 1 liter. However, the engine output did not have serious improvement, and the sale results failed to rise by the influence of the anti-effluent gas measure. On the other hand, the style of the straight line basic tone was popular, and Z1-R which it released in 1977 extended sale number in spite of high price with a high output engine while having various kinds of problems. I received this, and Z1000 which was the mainstream of the 1 liter class was renovated in a style based on a straight line on the occasion of a model change (a 1979 model) of 1978, and the name was changed with Z1000MKII. The design which I had a feeling of volume as the flagship (Z1300 was released in the same year, but it was a tourer point model and was hard to call this with "ZAPPER" which thought that Kawasaki was the class which became the main battlefield) for for Z1-R which was a special model was welcomed, and it was it with the model that could barely compete for power performance for the product made in competitor 1 liter class which was cast one after another from the last year because engine output 93 became ps.
Z1000MKII was sold for two years, but opportunities to take the dust stirred up by those in front of a remarkable competitor of the performance enhancement again came to increase in last years of model. To be opposed to this; appearing is new product of the frame and Z1000 which improved the thorough engine by a model change (a 1981 model) in 1980 by judgment that there are not lightweighting and room of the output up anymore as a then frame / engine(J) I am similar, and it will be passed the baton. As for the model change of this 1980, it is it in history of Kawasaki Z series of the 1 liter class with one turning point, and it may be said with the starting point of the the later amount of characteristics Buddhist clergyman, but there are many deep-rooted lovers worldwide, and there is it in the model group in these before 1980 even if there is it after having passed in higher than in 20.
A derivation car model
For the derivation car model that shared an engine and a basic frame with Z1000MKII for the same period,
* Z1000ST (the model, Z1000-E1, E2), a shaft drive car
* Z1000 Feul Injection (the model, Z1000-H1), a fuel injection device wearing car(Only as for the 1980 model)
* Z1000LTD (the model, KZ1000-B3, B4), an American type
* Z1R-II (the model, Z1000D2, D3), a cafe racer type
![post-title](https://i.ytimg.com/vi/cC1Ujqi7Szw/hqdefault.jpg)
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