Uniswap Labs updates on the progress of the highly anticipated v4 release, outlining milestones including code publication, and new features.
Key Points
- Uniswap Labs provides an update on the progress of the highly anticipated v4 release, outlining three milestones for the launch.
- The first milestone is achieved with the publishing of the protocol code, emphasizing Uniswap’s commitment to decentralization.
- The completion of the audit process, dependent on the Cancun hard fork integration, is crucial for the v4 launch.
Uniswap Labs, the team behind the popular decentralized finance (DeFi) protocol Uniswap, has provided an update on the progress of its highly anticipated v4 release. The team has outlined three milestones for the launch of Uniswap v4, pending any security issues or delays related to the Cancun hard fork and audit process.
Uniswap recently announced v4, opening DeFi to many new exciting possibilities.
Releasing a concept of making the most advanced borrowing protocol on top of Uniswap v4 using “inverse range orders” 🧵 pic.twitter.com/NuWW1US7dR
— Instadapp (@Instadapp) July 6, 2023
First Milestone: Publishing of Protocol Code
On June 13th, Uniswap Foundation’s governance lead, Erin Koen, announced that the first milestone had been achieved. This milestone involved the publishing of the protocol code, making it open for public view and contribution. By taking this step, Uniswap aims to emphasize its commitment to decentralization.
Second Milestone: Completion of Audit Process
A crucial factor for the launch of Uniswap v4 is the completion of the audit process. This process is dependent on the successful integration of EIP-1153 into Ethereum’s Cancun hard fork, which is expected to take place towards the end of September. Following the Cancun update, the Uniswap development team will undertake an extensive audit of the v4 codebase, a process that could take anywhere from one to four months.
However, Erin Koen acknowledges that the provided timeline is only indicative and subject to potential delays with the Cancun hard fork, extended audit processes, and additional security testing.
What to Expect in Uniswap v4
The upcoming Uniswap v4 upgrade will introduce new features and enhance the platform’s capabilities. One notable addition is the introduction of “hooks,” which are described as plugins that allow customization of how pools, swaps, fees, and LP positions interact. This will enable the implementation of on-chain limit orders and dynamic fees, features commonly found on traditional exchange platforms but challenging to integrate in a decentralized blockchain setting.
Additionally, Uniswap v4 aims to reduce pool creation costs by 99% by consolidating all pools within a single contract. This optimization will contribute to a more efficient and cost-effective user experience on the platform.
Uniswap Labs CEO Hayden Adams states that the team is committed to developing and enhancing Uniswap’s user experience, and the v4 upgrade is a significant step towards achieving this goal.
