Uniswap V3 Now Live on Ethereum Mainnet
- The largest feature of V3 is “concentrated liquidity”, which enables liquidity providers to make markets within customized price ranges.
- The feature also aggregates individual positions into a single pool, forming one combined curve for users to trade against.
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The third iteration of popular automated market maker (AMM) Uniswap has already been deployed to the Ethereum mainnet, the team behind the project said in a blog post on 5 May.
According to the announcement, the third version of the decentralized exchange was designed with the goal of making on-network token exchanges more efficient. The biggest change that came with V3 is what the company calls “concentrated liquidity”, which gives liquidity providers a “granular control” over what price ranges their capital is allocated to. It also aggregates individual positions into a single pool, forming one combined curve for users to trade against. The exchange said in its blog post:
“Uniswap v3 is the most powerful version of the protocol yet, with Concentrated Liquidity offering unprecedented capital efficiency for liquidity providers, better execution for traders, and superior infrastructure at the heart of decentralized finance.”
This new feature will also solves the problem of impermanent loss, as liquidity providers can simply set the ranges of trade where an impermanent loss could not occur. Uniswap V3 will also enable depositors to define different fees for trading, which could make less-frequently traded tokens more attractive.
The exchange first revealed details around its third version back in March. The core and periphery contracts of V3 were then deployed on all popular Ethereum testnets in April, with the exchange launching a $500,000 bug bounty reward for the discovery of high severity bugs. All contracts have also underwent full audits from firms such as Trail of Bits and ABDK, and were tested with automated tools Echidna and Manticore.
- 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.