Uniswap, Defi, Uniswap V3.
Uniswap v3. For pools with lower liquidity, the importance of the friction created by the basefee would be increased. For instance, let’s say that the ETH/USDT 0.05% pool has 1/3 of the liquidity. Then the results from $10 basefee on that pool would match those of the USDC/ETH pools with $30