關於 by implication ，我們在網路上蒐集到這些相關的討論、資訊與評價

𝗪𝗵𝘆 𝘆𝗼𝘂 𝗺𝘂𝘀𝘁 𝗯𝗲 𝗲𝘅𝘁𝗿𝗮 𝗰𝗮𝗿𝗲𝗳𝘂𝗹 𝗼𝗳 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗰𝗼𝘀𝘁𝘀 𝗮𝗻𝗱 𝗳𝗲𝗲𝘀 𝗶𝗻 𝗰𝗼𝗽𝘆 𝘁𝗿𝗮𝗱𝗶𝗻𝗴

Copy trading is a business.

So, if you’re not being charged any upfront fee, then you’re paying more for the spread and overnight fees.

I’ll explain…

For most Forex brokers, the spread on EUR/USD is 1 pip. But on a copy trading platform, you might pay 2 to 3 pips more.

But don’t take my words for it because you can compare the spreads of a normal Forex broker with a copy trading platform and you’ll see the difference.

So, what’s the implication?

Two things.

#1: If you’re a trader being copied, then bear in mind your trading strategy won’t work as well because you’re paying more in spread (compared to a typical Forex broker).

#2: If you’re copying another trader, then it’s best to follow traders who trade infrequently so the spread doesn’t eat up a huge chunk of your profits.

Now, the spread isn’t your only cost because you still have to consider overnight fees (if you’re holding positions for longer than a day).

This fee is calculated by taking Libor + X%.

(Libor stands for inter-bank offered rate. It’s an interest rate that banks charge to other banks for borrowing the money.)

So, what is X?

Well, this is the mark up that’s determined by the copy trading platform and you’ll need to check with them for the exact amount.

The good news is, you don’t have to worry about calculating all these because the platform will likely do it for you—so do check it out before placing a trade.

Now, there are probably other fees to consider but the spread and overnight fees make up the chunk of it.

📜 [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

𝗪𝗵𝘆 𝘆𝗼𝘂 𝗺𝘂𝘀𝘁 𝗯𝗲 𝗲𝘅𝘁𝗿𝗮 𝗰𝗮𝗿𝗲𝗳𝘂𝗹 𝗼𝗳 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗰𝗼𝘀𝘁𝘀 𝗮𝗻𝗱 𝗳𝗲𝗲𝘀 𝗶𝗻 𝗰𝗼𝗽𝘆 𝘁𝗿𝗮𝗱𝗶𝗻𝗴

Copy trading is a business.

So, if you’re not being charged any upfront fee, then you’re paying more for the spread and overnight fees.

I’ll explain…

For most Forex brokers, the spread on EUR/USD is 1 pip. But on a copy trading platform, you might pay 2 to 3 pips more.

But don’t take my words for it because you can compare the spreads of a normal Forex broker with a copy trading platform and you’ll see the difference.

So, what’s the implication?

Two things.

#1: If you’re a trader being copied, then bear in mind your trading strategy won’t work as well because you’re paying more in spread (compared to a typical Forex broker).

#2: If you’re copying another trader, then it’s best to follow traders who trade infrequently so the spread doesn’t eat up a huge chunk of your profits.

Now, the spread isn’t your only cost because you still have to consider overnight fees (if you’re holding positions for longer than a day).

This fee is calculated by taking Libor + X%.

(Libor stands for inter-bank offered rate. It’s an interest rate that banks charge to other banks for borrowing the money.)

So, what is X?

Well, this is the mark up that’s determined by the copy trading platform and you’ll need to check with them for the exact amount.

The good news is, you don’t have to worry about calculating all these because the platform will likely do it for you—so do check it out before placing a trade.

Now, there are probably other fees to consider but the spread and overnight fees make up the chunk of it.

*Special Earth Day Discount: Get Nebula & CuriosityStream for 41% off! https://curiositystream.com/kentobento​​ (includes my Nebula Exclusive show)

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Other videos you may like:
The Bizarre South Korean Bank Heist: https://youtu.be/8JclG3gZLQI
The Greatest Bank Heist in Chinese History: https://youtu.be/qW0uzPJEO10
The $1,000,000,000 North Korean Bank Heist: https://youtu.be/Usu9z0feHug
The Greatest Bank Heist in Japanese History: https://youtu.be/gbeN-2ErxBw
How North Korea Held the Greatest Pro Wrestling Event in History: https://youtu.be/U_ZkqfSpbg4
How The CIA's Ran a Secret Toy Operation in South Asia: https://youtu.be/ALf-jO5pyfY

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Channel Description:
Animated documentary-style videos on extraordinary Asian events.

Credits:
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Video Title: The Mysterious Chinese Art Heists Across Europe

"Stockholm, Sweden. 2010. Passersby on the streets of the capital were confused and scared. Several cars in and around the vicinity had lit up in flames, and no one had any idea why. Police soon arrived on scene but they too were baffled with what they saw. Now, several kilometers to the west, on the outskirts of the city, a small group of masked men made their way across the grounds of the Drottningholm Palace (the private residence of the Swedish Royal Family, as well as a UNESCO World Heritage Site). Their target was the royal pavilion situated in the southern part of the complex, which displayed countless works of historic art. Once there, the men forced their way in through the backdoors, and went right to work. They smashed the protective display cases, and grabbed whatever items they wanted. This immediately set off the alarm system, which alerted the Swedish police. Now, despite the alarm, the robbers remained calm, because they knew exactly where the police were. The burning cars were in fact a distraction for them set up by the robbers, and they had fallen right into the trap. Still, the police raced towards the crime scene, but by the time they reached the royal pavilion, the place was empty (the robbers were in and out in less than six minutes). Upon inspection, sculptures, chalices, plates and teapots - all invaluable items - were now missing from the permanent state collection of art and antiquities; and this wasn’t just a huge economic loss, but a cultural one as well. It was later found out that after fleeing the pavilion on mopeds, the robbers made their way to a nearby lake where they were then picked up by a white speedboat. Though from this point, the trail went cold...

*Note: The narrative of the implication of the Chinese government was made popular by Alex Palmer of GQ in 2018 (though these suspicions had existed long before).

Eddie House said Thursday that he hadn't gone headhunting for Allen Iverson on Wednesday night and seemed to resent the implication by the Philadelphia 76er star that he had.

"I ain't no dirty player," he said. "I don't play dirty."

House, in his first start at guard for the Clippers, provoked a reaction from Iverson that longtime observers said they had rarely, if ever, seen.

Iverson became enraged after absorbing a blow to the head from House while driving to the basket in the second quarter of a 100-80 76er victory. The NBA scoring leader took off after the Clipper guard, only to be restrained by teammate John Salmons, who wrapped Iverson in his arms.

Later, the 76er guard thanked Salmons for interceding because "only God knows" what might have happened if he'd reached House, who was called for a flagrant foul after the officials changed their initial ruling of a two-shot foul.

Iverson, who scored 20 points, said House had hit him in the face in the first quarter, "and I didn't pay it no mind."

"But I knew he was still coming, and I had the easy layup, and then he hit me in the head. I really don't care when guys hit me in my arms, my chest, my leg, anything like that real hard. But when you hit me in my face or my head, it's a different story. It was a hard foul.

"Afterward, he kept saying, 'It was just a hard foul, it was just a hard foul.' Well, it was a flagrant foul, so obviously it wasn't just a hard foul. I just didn't like it. And I wanted to let him know I didn't like it."

House got the message but didn't understand the commotion.

"I was playing basketball," he said Thursday. "I don't care how he took it. It wasn't like I was going after him, trying to do it....

"If he took it like that, that's how he took it. I can't help that. I can't dictate how somebody else is going to take something, you know what I mean?"

He didn't seem threatened.

"That just fed into his ego," he said of Iverson's postgame comments. "I guess he had to say something, like he was really going to do something."

ヴェクスター125の３ヵ月後に、150cc版が発売。こういったミドルクラススクーターは、ヨーロッパではポピュラーだが、日本ではあまりパッとしないカテゴリー。実際、日本ではスズキしか発売していない。
外観はスタンダードなスクータースタイルながら、未来的なデザイン。車体サイズは原付より１まわり大きい程度で、取り回しは良い。しかし、これで高速道路を走るのは辛いかも。街乗りがメインで、たまに高速を乗りたい、という人向け？
ヴェクスター(VECSTAR) It is the motorcycle of the motor scooter type that は, Suzuki produce it, and it sold.
ヴェクスター was released as a medium-sized motor scooter in 1994. By displacement volume, as for ヴェクスター 150, 125 is sorted to two kinds of mopeds by light two of them.

The engine is small in comparison with the big motor scooter of the 250cc class which is 4 cycles 152cc (124cc). By it, I get the good point of the sumo wrestler's loincloth which is near to 50cc moped motor scooter (radius of gyration 1.9m at the minimum). It is said with the practical use car which turned though parking expands, and easiness of, the good point of the mileage do town riding as a substitute for foot of the everyday life an implication. Because 150 is light 2, as well as it, the run of the highway is possible.

125 became the production end by release of address V125, and 150 became the production end with emission control reinforcement in August, 2007.

The equipment

The headlight of unique shape is equipped with two 30W /30W krypton valve lights and, in comparison with the other vehicles of the class, secures enough light quantity. In addition, there is a position lamp centrally the front, but the meaning in the practical use is light for regular lighting a headlight.

I am equipped with both center stands and side stands.

The storing has seat bottom trunk, steering wheel bottom storage space, convenience store hook, rear carrier.
The seat bottom trunk can put a full-faced helmet helmet to the side. The steering wheel bottom box is limited to the storing of the accessory for complicated shape substantially. The footwear uses a convenience store hook sticking to the seat side widely in a flat floor and can load it with some load.

[Editing] A turn of speed

It is controlled greatly by the environment such as the degree of the vehicle, the use, but, in the case of 125, as for the cruising speed, 50-70km/h, the maximum speed are around 85-100km/h. This is 150, but there is not the big difference. The general course that the main line included is enough for these performance.

In addition, 150 can run a highway, but, as for the run for the long time, a rider and a burden to the vehicle are big because the state that is almost engine fully opening continues to cruise on a highway.

In addition, as for the initial model, the badness of the acceleration of the start was pointed out, but this was improved by a throttle position sensor and the improvement of the carburetor equipped with by a minor change of 1999.

[Editing] The mileage

It is acted on environment about the mileage, but it is often that I record the high mileage of around 30km/l. Because the fuel tank is 8 liters, in the calculation top, fuel is filled up, and runs more than 200km are possible.

Oil capacity is 0.8 liter. The maker recommends first time one month or 1,000km, 以降 1 or exchange every 6,000km.

[Editing] Ride comfort

The 50cc moped motor scooter is higher in the amount of seat than the part of the big motor scooter from the start, and I am with legs, and attention is necessary. It is a slightly bigger seat and considers the uniformity for for two people for this class, but, as a matter of course, is inferior to a big motor scooter. When the engine sound is quiet and runs in the downtown, it is rare that I give the noise damage to the outskirts unless I do extreme driving.

[Editing] An origin of the car name

The coined word that combined a vector (the German language, course, direction) with a star (a star, popularity, the future). It was named a bright image by a good point of the nuance of a word.