Let me begin by saying that I am exploring an idea here. The idea I am exploring is how to have greater freedom in correctly using limit values. Please give me a little lee way.
Let me start informally choose a small enough p. For example, say $p = 2^{-64}$. The first equation can be expressed as.
$$ y = f(x) = \frac{x^p - 1}{p} $$
$$ (1 + yp)^{\frac1{p}} = x $$
Let $ yp = q $ then $p = \frac{q}{y}$
$$ ((1 + q)^{\frac1{q}})^y = x $$
Then the following equations hold, close enough,
$$ e^y = x $$
$$ y = f(x) = \ln(x) $$
And I can make them hold as tightly as I want by getting out my calculator, and choosing a smaller p.
Now I want to make this a bit more formal. Let me define this in terms of X and Y being the limit values of x and y.
Let p be a small enough number so that x is close enough to a limit value X and y is close enough to a limit value Y. So I might choose an x = X and find a small enough p so that y is close enough to Y. Or I might choose a y = Y and find a small enough p so that x is close enough to X.
Let me try to make this follow a pattern like the $\epsilon$ $\delta$ limit defintition.
The limit as $p$ goes to zero of $x$ is $X$ and $y$ is $Y$ if for every $ \epsilon > 0 $ there exists a $ \delta $ such that, for all $p \in D$, if $ 0 < p < \delta $, then $ |x-X| < \epsilon \land |y-Y| < \epsilon$.
The equation for f is,
$$ y = f(x) = \frac{x^p - 1}{p} $$
Let $ yp = q $
$$ ((1 + q)^{\frac1{q}})^y = x $$
Then,
$$ e^Y = X $$
$$ Y = f(X) = \ln(X) $$
In this frame work, there is only a single p that goes towards zero. And there may be multiple limit values.
$$ \frac{dy}{dx} = L $$
where $ |l - L| < \epsilon $ and,
$$ l = \frac{f(x+p) - f(p)}{p} = \frac{((x+p)^p - 1) - (x^p - 1)}{p^2} = \frac{p^2 x^{p-1} + p^3 r}{p^2} = x^{p-1} + p r$$
Where r is other terms. So,
$$\frac{dy}{dx} = L = x^{-1}$$
I hope this makes sense :)