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App Types Support

Steer Protocol is focused on flexibility and extensibility, which allows developers to create a wide range of apps including applications for automated liquidity management on Uniswap V3, loan payments on MakerDAO, Oracle updates for data-driven non-fungible tokens (NFTs) on Ethereum, Reinvestment of interest on Aave, and asset management on Set Protocol. These are just a few examples, and the possibilities for apps that could be built on the Steer Protocol are truly endless.

To begin with, Steer supports building Apps for Uniswap v3 concentrated liquidity management, for which Steer has made engines that handle complexity, security, and execution for someone creating an app for yield-generation on Uniswap v3. These App Engines are designed to perform specific tasks or functions in order to help streamline and automate various processes.

Uniswap v3 Steer engine helps manage the liquidity in Uniswap v3 pools. It does this by distributing or depositing liquidity in certain ranges decided by the user upload app within the v3 pools. These apps contain the core logic for how the Steer engine should choose which ranges to focus on.

Essentially, the Steer Uniswap v3 engine helps ensure that there is an appropriate amount of liquidity available in the Uniswap v3 pools at any given time, and it does this by following the guidance provided by the user-published apps.

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Let’s understand Steer Uniswap v3 Engines in more detail: -

  1. Uniswap V3 Single Position

    • This Engine has the ability to manage 100% of liquidity into just a single price range at any given point in time.

    • For instance, if someone wrote an app that manages 100% liquidity for a USDC/ETH pool on Uniswap V3 under one price range of 1000 USDC/ETH to 1200 USDC/ETH at a given point in time should use this engine for such types of apps.

  2. Uniswap V3 Multi-Position

    • This Engine has the ability to split and manage liquidity into just a multiple price range at any given point in time.

    • For instance, if someone wrote an app that manages liquidity for a USDC/ETH pool on Uniswap V3 into multiple split as 25% of total liquidity in the range of 1100 USDC/ETH to 1200 USDC/ETH, 35% liquidity in 1300 USDC/ETH and 1450 USDC/ETH and remaining 40% liquidity in a range of 1500 USDC/ETH to 1700 USDC/ETH at a given point in time should use this engine for such types of apps.

  3. Uniswap V3 Single Position Whitelist

    • This is the same as a Uniswap v3 single position engine but with an additional feature of providing a whitelist of addresses that can only perform actions like a deposit or more into the app.
  4. Uniswap V3 Multi-Position Whitelist

    • This is the same as a Uniswap v3 multi-position engine but with an additional feature of providing a whitelist of addresses that can only perform actions like a deposit or more into the app.

Note: Each Whitelist engine has an assigned manager usually a creator of the app that is allowed to modify the whitelisted address.

What are some more App Engines in future pipelines for Steer Dapp?

The Steer team is working hard to provide as many of these engines as possible in order to help the DeFi community and protocols operate more effectively. By offering a wide range of App Engines, the Steer team is demonstrating a commitment to supporting and advancing the Defi ecosystem. Some of the app engines under development and launching soon are

  1. Dynamic App Engine
    • This Engine can be used for apps that may use some data sources (one or many, on-chain or off-chain) for some computation or execution of some smart contract function in a recurring fashion.
    • This engine will truly unlock the potential of smart contract automation.
  2. Oracle App Engine
    • The Steer Oracle App Engine allows individuals or protocols to quickly and easily create decentralized oracles, streamlining the process of obtaining reliable, real-time data for use in smart contracts and other blockchain-based applications. This tool saves time and resources that would otherwise be spent on the labor-intensive process of building oracles from scratch.
    • Creating an off-chain data oracle will now be super easy.
  3. Dollar Cost Average Engine
    • This Engine can be used for apps that want to buy token x for a particular amount of token y from a DEX under various conditions like time, price, etc

There are a few more engines under consideration who's docs will be out soon.