📜 [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5部Youtube影片,追蹤數超過7,220的網紅Duncan Design,也在其Youtube影片中提到,創作理念: 我們會受傷,但堅強的人們還是能夠重拾碎片再度「拼回來」,如同花蓮並不會因為一場大地震而被擊倒,因為挫折,我們反能更加堅強茁壯。 創作背景: 2018年2月6日大地震造成花蓮嚴重災情,有感於災後地方石材產業受損嚴重,由在地圖文創作者Duncan發起,結合精通石雕技藝的三位藝術家,希冀藉由...
「similarly meaning」的推薦目錄:
similarly meaning 在 Duncan Facebook 的最讚貼文
送給花蓮的石雕作品【拼回來】完成了,歡迎大家有空來看看!
創作理念:
我們會受傷,但堅強的人們還是能夠重拾碎片再度「拼回來」,如同花蓮並不會因為一場大地震而被擊倒,因為挫折,我們反能更加堅強茁壯。
創作背景:
2018年2月6日大地震造成花蓮嚴重災情,有感於災後地方石材產業受損嚴重,由在地圖文創作者Duncan發起,結合精通石雕技藝的藝術家王標、葉權賢、林立仁,希冀藉由各自所長,利用具在地文化價值之素材共同創作一象徵重振精神的公共藝術作品,籌備期間惠納地方人士捐贈與各級單位之支持,本作品才能完整呈現於大眾面前。作品以破損石材堆疊後進行雕刻創作,並選址於此,即前身為舊監獄遺跡的自由廣場。而平日於自強外役監獄教授石雕技藝的藝術家們,亦盼於本古蹟場域傳達“拼回自己的人生”之正面附加喻意。
石材災損品提供:嘉太企業有限公司、國合大理石工廠有限公司、優寶石材有限公司
特別感謝:花蓮縣政府文化局、花蓮縣花蓮市公所、當肯迪賽有限公司、台灣區石礦製品工業同業公會、財團法人石材暨資源產業研究發展中心、艾朵國際股份有限公司、謝偉士建築師事務所、群策工程顧問股份有限公司、國立東華大學語傳系、指間音像設計整合有限公司、政雄建築工程、上鴻企業社、長雄機械工程行、泰鵬工程行、摩爾形象整合事務所、不只是行銷有限公司、匿名贊助者
Creative intent:
People get hurt, but the strong ones pick up the pieces and put them back together again. Similarly, Hualien will not be defeated by an earthquake, because setbacks make us stronger.
Creative background:
On February 6, 2018, Hualien was devastated by a massive earthquake. Seeing that Hualien’s stone industry suffered major loss, a local illustrator proposed building a public art display out of local materials. With the help of three master sculptors, donations from the public, and the support of the local government, the piece was finally completed and unveiled. Rocks broken in the earthquake were stacked and sculpted, and the sculpture was erected at Freedom Square on the grounds of Hualien’s former prison. The sculptors, who teach sculpting to inmates at Ziciang Minimum-Security Prison, also hope that erecting the sculpture at this historic site conveys the positive meaning of “putting one’s life back together.”
similarly meaning 在 DR. SIMON MSH Facebook 的精選貼文
Thoughts are like the weather of the mind. Some days are pleasant while others can be stormy and there's just not much we can do to change that.
Too many people misunderstand meditation as a way to rid unwanted thoughts, but your thoughts will never go away. You've got to observe them like you do the weather.
There is a big difference between having thoughts and having awareness, as the two are often confused with each other . While it is plausible that thinking about something can mean being aware of it, we are not as in control of our thoughts as we think we are.
Awareness has a different meaning; it means the observation of thoughts as the causes for emotions that we feel.
Thoughts are bubbles, says Jon Kabat-Zinn, that are waiting to be popped by awareness. And once they're popped, the negative emotion often associated with our thoughts will similarly disappear into the thinness of the air. To know more, Click the link in my profile 👉@drshsbd
_____
#awarenessiskey #innerpeacealways #meditationroom #spiritualityawake #mindfulnessquotes #meditation #storms #3in1transformation #igkl #spiritualityquotes #mindfulnessmeditation #meditationinmotion #innerpeaceisabeautifulthing #meditationpractice #mindfulnesspractice #mindfulnessmoment #awarenessmatters #movingmeditation #selfawareness #innerpeaceouterabundance #innerpeace #jomkurus #practicemindfulness #mindfulnessmatters #dailymeditation
similarly meaning 在 Duncan Design Youtube 的最讚貼文
創作理念:
我們會受傷,但堅強的人們還是能夠重拾碎片再度「拼回來」,如同花蓮並不會因為一場大地震而被擊倒,因為挫折,我們反能更加堅強茁壯。
創作背景:
2018年2月6日大地震造成花蓮嚴重災情,有感於災後地方石材產業受損嚴重,由在地圖文創作者Duncan發起,結合精通石雕技藝的三位藝術家,希冀藉由各自所長,利用具在地文化價值之素材共同創作一象徵重振精神的公共藝術作品,籌備期間惠納地方人士捐贈與各級單位之支持,本作品才能完整呈現於大眾面前。作品以破損石材堆疊後進行雕刻創作,並選址於此,即前身為舊監獄遺跡的自由廣場。而平日於自強外役監獄教授石雕技藝的藝術家們,亦盼於本古蹟場域傳達“拼回自己的人生”之正面附加喻意。
石材災損品提供:嘉太企業有限公司、國合大理石工廠有限公司、優寶石材有限公司
特別感謝:花蓮縣政府文化局、花蓮縣花蓮市公所、當肯迪賽有限公司、台灣區石礦製品工業同業公會、財團法人石材暨資源產業研究發展中心、艾朵國際股份有限公司、謝偉士建築師事務所、群策工程顧問股份有限公司、國立東華大學語傳系、指間音像設計整合有限公司、政雄建築工程、上鴻企業社、長雄機械工程行、泰鵬工程行、摩爾形象整合事務所、不只是行銷有限公司
Creative intent:
People get hurt, but the strong ones pick up the pieces and put them back together again. Similarly, Hualien will not be defeated by an earthquake, because setbacks make us stronger.
Creative background:
On February 6, 2018, Hualien was devastated by a massive earthquake. Seeing that Hualien’s stone industry suffered major loss, a local illustrator proposed building a public art display out of local materials. With the help of three master sculptors, donations from the public, and the support of the local government, the piece was finally completed and unveiled. Rocks broken in the earthquake were stacked and sculpted, and the sculpture was erected at Freedom Square on the grounds of Hualien’s former prison. The sculptors, who teach sculpting to inmates at Ziciang Minimum-Security Prison, also hope that erecting the sculpture at this historic site conveys the positive meaning of “putting one’s life back together.”
similarly meaning 在 一二三渡辺 Youtube 的最讚貼文
http://jp.youtube.com/watch?v=Trn7-SD6fCQ
マッハでMT中です、
ありがとう、
Kawasaki ninja 250R is the motorcycle which Kawasaki Heavy Industries produces it from April, 2008 and sells. I describe it with Ninja 250R in the text as follows.
The engine put on summary Ninja 250R is four two water-cooled stroke parallel cylinder DOHC of 248cc, and basic design is the series having a long of the breath to continue from GPX250R or ZZR250 ceaselessly, but the improvement crosses cylinder head circumference or カムチェーンテンショナ very much in the many divergences. It is fuel injection for the carburetor to have become the one of the biggest changes from an old model(FI) It is の adoption. Similarly some says that rather it is easy to have come to treat the output value and the torque of the engine by benefits newly-designed, to depend such as the improvement of the throttle response by the FI deployment or the optimization of the gear ratio for influence by carried catalyzer or the conformity to the noise regulation that will become severer in future although it is inferior *NONIF than ZZR250 equipped with an engine of the affiliation line because I support an emission control.
The Kawasaki eliminator (ELIMINATOR) is a motorcycle Kawasaki Heavy Industries produces it, and to sell. The name is still a meaning called "the thing to remove".
It is the machine that it is different from a conventional cruiser, and it was developed a drag racer in a concept while other companies adopt the style that resembled a cruiser made in Harley davit loss company.
This drug style is inherited in V-MAX of Yamaha to appear later, X4 of Honda.
ELIMINATOR250 was released in 1987. As for the design, a high rank is similar, and the engine misappropriates two parallel cylinders of GPX250R.
View L(Buell) It is the brand of a motorcycle produced in は, the United States of America.
Bandit1200S
GSF1200 was released in 1995. It is the vehicle which did depth of the torque of the low rotary level for selling and is equipped with a strong engine showing the greatest torque at 4,000 rounds per minute. It was exported by a car name of Bandit1200 abroad. I receive a model change again in 2000, and, across lightning 1200 released as a model change in the country, it will be released as bandit 1200. In addition, there are the half cowl specifications of model number "S" together, too. In addition, in GSF1200S, there was the rare ABS deployment car model to a two-wheeled vehicle in those days.
Yamaha / YZF-R1 (Y Z F - are one) is a large-sized motorcycle of four article for export markets stroke 998cc that Yamaha Motor released in 1998 (a motorcycle).
A concept
It was released as the super sports model who became the opposition car model of Honda / CBR900RR in 1998.
Really newly-designed, an engine and the frame were developed to plan differentiation with FZR1000 and the YZF1000R sander ace, and, since FZR1000, a handstand front fork was adopted after a long absence by a liter model of Yamaha. The engine output of the best class, a sharp design became the topic to weight at the same level as a medium-sized car in those days, and it was it with the instigator of the super sports boom.
In addition, the improvement that it is influence, and the CBR900RR series that was a monumental achievement as the super sports machine (the following SS and abbreviation) so far is large of this vehicle will be demanded, and GSX-R1000 which it is improved, and is a boa up version of GSX-R750 from the sea bass which gave a shock in first generation GSX-R will be born, and the companies stimulate it, and ZX-9R will enter into SS from sports tourer from Kawasaki for the SS age of civil strife to still continue.
similarly meaning 在 一二三渡辺 Youtube 的最佳貼文
2008 カワサキ ニンジャNinja 250R スズキバンデット1200S カワサキエルミネーター ヤマハ YZF-R1 ビューエル
ELIMINATOR250V Buell Bandit1200S
http://jp.youtube.com/watch?v=Trn7-SD6fCQ
マッハでMT中です、
ありがとう、
Kawasaki ninja 250R is the motorcycle which Kawasaki Heavy Industries produces it from April, 2008 and sells. I describe it with Ninja 250R in the text as follows.
The engine put on summary Ninja 250R is four two water-cooled stroke parallel cylinder DOHC of 248cc, and basic design is the series having a long of the breath to continue from GPX250R or ZZR250 ceaselessly, but the improvement crosses cylinder head circumference or カムチェーンテンショナ very much in the many divergences. It is fuel injection for the carburetor to have become the one of the biggest changes from an old model(FI) It is の adoption. Similarly some says that rather it is easy to have come to treat the output value and the torque of the engine by benefits newly-designed, to depend such as the improvement of the throttle response by the FI deployment or the optimization of the gear ratio for influence by carried catalyzer or the conformity to the noise regulation that will become severer in future although it is inferior *NONIF than ZZR250 equipped with an engine of the affiliation line because I support an emission control.
The Kawasaki eliminator (ELIMINATOR) is a motorcycle Kawasaki Heavy Industries produces it, and to sell. The name is still a meaning called "the thing to remove".
It is the machine that it is different from a conventional cruiser, and it was developed a drag racer in a concept while other companies adopt the style that resembled a cruiser made in Harley davit loss company.
This drug style is inherited in V-MAX of Yamaha to appear later, X4 of Honda.
ELIMINATOR250 was released in 1987. As for the design, a high rank is similar, and the engine misappropriates two parallel cylinders of GPX250R.
View L(Buell) It is the brand of a motorcycle produced in は, the United States of America.
Bandit1200S
GSF1200 was released in 1995. It is the vehicle which did depth of the torque of the low rotary level for selling and is equipped with a strong engine showing the greatest torque at 4,000 rounds per minute. It was exported by a car name of Bandit1200 abroad. I receive a model change again in 2000, and, across lightning 1200 released as a model change in the country, it will be released as bandit 1200. In addition, there are the half cowl specifications of model number "S" together, too. In addition, in GSF1200S, there was the rare ABS deployment car model to a two-wheeled vehicle in those days.
Yamaha / YZF-R1 (Y Z F - are one) is a large-sized motorcycle of four article for export markets stroke 998cc that Yamaha Motor released in 1998 (a motorcycle).
A concept
It was released as the super sports model who became the opposition car model of Honda / CBR900RR in 1998.
Really newly-designed, an engine and the frame were developed to plan differentiation with FZR1000 and the YZF1000R sander ace, and, since FZR1000, a handstand front fork was adopted after a long absence by a liter model of Yamaha. The engine output of the best class, a sharp design became the topic to weight at the same level as a medium-sized car in those days, and it was it with the instigator of the super sports boom.
In addition, the improvement that it is influence, and the CBR900RR series that was a monumental achievement as the super sports machine (the following SS and abbreviation) so far is large of this vehicle will be demanded, and GSX-R1000 which it is improved, and is a boa up version of GSX-R750 from the sea bass which gave a shock in first generation GSX-R will be born, and the companies stimulate it, and ZX-9R will enter into SS from sports tourer from Kawasaki for the SS age of civil strife to still continue.