Cryptocurrency News

Uniswap Deploys ‘V3’ Smart Contracts To All Ethereum Networks.

Renowned decentralized exchange Uniswap has taken a step closer to launching its highly anticipated “V3” iteration, revealing the successful deployment of V3’s smart contracts to all Ethereum test networks.

Within an official announcement on 21st April, Uniswap Labs revealed that the protocol’s V3 core and periphery smart contracts are deployed to all major Ethereum testnets – Ropsten, Rinkeby, Kovan, and Goerli.

The testnet addresses were posted to Github, with Uniswap reminding users that the addresses aren’t final and can be changed as the team makes final updates to the periphery repository. Version three’s core contracts have also been deployed to GitHub.

A bug bounty was started on 23rd March offering rewards of up to $500k for the invention of high severity bugs in V3’s contracts. Consistent with the official announcement, Uniswap v3 is predicted to launch to mainnet on 5th May.

Uniswap has taken a path of capital efficiency for its next upgrade that can complicate the passive income aspect of liquidity provision for several casual DeFi investors.

Some of the upgrades within the next iteration embody multiple fee tiers which permit liquidity providers to be compensated for taking over varying degrees of risk. There are also upgrades to the automated market maker bonding curves, which aggregate individual positions into one pool to make one combined curve for users to trade against.

Uniswap V3 offers three separate fee tiers per pair consistent with expected pair volatility – 0.05%, 0.30%, & 1.00% – offering greater protection against impermanent loss to liquidity providers.

Despite the high Ethereum [ETH] network fees, which are presently around $67.86 USD on the average for a token swap on Uniswap consistent with Etherscan, the DEX continues to draw in high trading volumes.

Recently on 20th April, Uniswap founder Hayden Adams posted that the platform had reached the milestone of $10 Bln in weekly trading volume for the primary time.

At the reporting time, the DEX’s native UNI token was trading 6.8% higher over the past 24 hours consistent with CoinGecko. UNI tokens are presently trading at a price of $32 USD, but down from their 15th April all-time high of $39.20 USD.

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