How does UniswapX work? – Uniswap Labs

To start, lets say Alice (the swapper) wants to swap 1 ETH for USDC. Alice requests a quote from (potential fillers) Bob, Charlie, and Danielle: Alice accepts Bob’s quote for 1,000 USDC, and she signs the order. This order includes a maximum value (set by Bob’s quote of 1,000 USDC) and minimum value of 997 USDC (set by the Uniswap smart order router API). Bob could fill Alice’s order using his own USDC or by routing Alice’s 1 ETH to a variety of on-chain liquidity venues (Uniswap Protocol, Sushiswap, etc). Bob decides to fill Alice’s order using some of his own USDC, and sends Alice 1,000 USDC in exchange for her 1 ETH. If Bob had decided to fall through on his offer, Alice is not required to submit a new order and signature. Instead, her existing order automatically updates, offering her 1 ETH to anyone who can give her 999 USDC in return. One block has passed and now neither Charlie nor Danielle (nor any of the other fillers participating in the UniswapX system) are willing to fill A

To start, lets say Alice (the swapper) wants to swap 1 ETH for USDC. Alice requests a quote from (potential fillers) Bob, Charlie, and Danielle: Alice accepts Bob’s quote for 1,000 USDC, and she signs the order. This order includes a maximum value (set by Bob’s quote of 1,000 USDC) and minimum value of 997 USDC (set by the Uniswap smart order router API). Bob could fill Alice’s order using his own USDC or by routing Alice’s 1 ETH to a variety of on-chain liquidity venues (Uniswap Protocol, Sushiswap, etc). Bob decides to fill Alice’s order using some of his own USDC, and sends Alice 1,000 USDC