Uniswap V3 Deployed to Testnets
- The third iteration of Uniswap is now available on the Ropsten, Rinkeby, Kovan, and Goerli Ethereum testnets.
- Set to launch on the mainnet on 5 May, Uniswap V3 will introduce a number of new features, such as concentrated liquidity and a multiple fee tier system.
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Popular decentralized exchange (DEX) Uniswap has deployed its V3 core contracts to all Ethereum testnets ahead of of their 5 May mainnet launch, Uniswap said in a tweet on 21 April.
According to the announcement, the Uniswap V3 core and periphery smart contracts are already available on all popular Ethereum testnets, including Ropsten, Rinkeby, Kovan and Goerli. While the DEX did post the testnet addresses to Github, it warned its users they are not final and could all be changed in the future after the team updates the periphery repository.
Set to officially launch on the mainnet on 5 May, the Uniswap V3 upgrade will introduce a number of new features, including concentrated liquidity, which will aggregate individual positions into a single pool. The upgrade also comes with a multiple fee tiers system for liquidity providers that is separated into three tiers — 0.05%, 0.30% and 1.00% — and provides greater protection against impermanent losses.
The DEX first revealed details around its third iteration back on 23 March, when it also launched a bug bounty with rewards of up to $500,000 for the discovery of high severity bugs in the Uniswap V3 contracts. In order to be sure of the contract’s security, Uniswap V3 also underwent full audits from firms such as Trail of Bits and ABDK, and was tested with automated tools Echidna and Manticore.
Despite the platform attracting negative reviews in recent times, mainly due to its high gas fees, Uniswap has continued to attract high trading volumes, and is currently the number 3 platform on DeFi Pulse. On Tuesday the platform’s founder, Hayden Adams, revealed that Uniswap had reached the $10 billion weekly trading volume mark for the first time.
- Popular Telegram bot Unibot, which is used to snipe trades on Uniswap, became a victim of a token approval exploit earlier today, when it was switching to a new router.
- After confirming the exploit, Unibot assured users that their keys and wallets were safe, and that the project will compensate all affected users.
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- The so called “World App” crypto wallet will make use of the project’s “World ID” system to effectively distinguishes between humans and AI.
- While everyone will be able to use the new wallet, only verified “World ID” holders will enjoy gas-free transactions within the Worldcoin ecosystem.
- After passing its governance vote, the proposal to deploy Uniswap v3 on Boba Network has been scheduled to proceed in the coming weeks.
- Boba Network claimed the decision will allow Uniswap to expand into the Asian market, and enable developers to build on and off-chain DeFi applications on top of Uniswap.