The Uniswap decentralized exchange (DEX) has unveiled its latest upgrade, Uniswap v4, introducing a range of customizable features and releasing the draft core code for community input. The announcement has sparked excitement among crypto enthusiasts as it opens up new possibilities for innovation and development within the Uniswap ecosystem.
1/ Today, we’re announcing our vision for Uniswap v4 🦄
We see Uniswap as core financial infrastructure & think it should be built in public with space for community feedback and contribution.
An early implementation of the code can be found here:https://t.co/toy3k7plnU pic.twitter.com/9vGJElba2x
— Uniswap Labs 🦄 (@Uniswap) June 13, 2023
Decentralized exchanges provide users with the ability to trade cryptocurrencies without relying on intermediaries while granting them greater control over their assets. Uniswap, currently the leading DEX in the market, boasts an impressive $3.87 billion in Total Value Locked (TVL), according to DefiLlama.
Uniswap V4 Release: Gathering Feedback from the Public
Before the official launch of Uniswap V4, the company is actively seeking feedback from the public, emphasizing the importance of community involvement in shaping the future of the platform.
On June 13th, Uniswap founder Hayden Adams revealed the preliminary version of Uniswap V4. This new release features “hooks,” or plugins, that enable developers to create custom liquidity pools and implement various innovative functionalities.
The hooks included in V4 will enable developers to introduce on-chain limit orders, automate deposits into lending protocols, and incorporate liquidity provider (LP) fees with auto-compounding, among other innovations, once the implementation is complete.
Meanwhile, the integration of hooks and the singleton architecture not only allows for enhanced customization but also brings about improved gas efficiency, reducing costs and ensuring optimal performance.
Uniswap Labs Engineer Sara Reynolds expressed her enthusiasm for the possibilities Uniswap V4 brings, stating that it will accelerate innovation within automated market maker (AMM) exchanges like Uniswap. The introduction of customizable logic paves the way for rapid AMM evolution.
We’ve open-sourced v4 to build in public.
We want to give everyone a strong baseline to understand how to use hooks and get their feedback as we build v4 together.
Check out our hooks guide to learn more!https://t.co/Yu5OGIdxe3
— Uniswap Labs 🦄 (@Uniswap) June 13, 2023
Increased Interest in Decentralized Exchanges (DEXs)
The release of Uniswap V4’s source code aligns with a surge in new users turning to decentralized exchanges. This rise in interest presumably comes as a result of recent legal actions against centralized exchanges such as Binance and Coinbase by the U.S. Securities and Exchange Commission (SEC), prompting individuals to explore decentralized alternatives.
UNI, the native token of the ecosystem has also experienced a slight increase in the wake of the announcement. Per Coinmarketcap data, Uniswap (UNI) is trading at $4.44 with a 24-hour trading volume of $95 million. It is up 2.23% in the last 24 hours.
However, Uniswap v4 promises to be a game-changer, revolutionizing exchange innovation and flexibility. As the project continues to evolve the crypto community eagerly awaits the final release of Uniswap V4, anticipating the groundbreaking advancements it will bring to decentralized exchanges and the entire Defi space.
