The DeFi ecosystem believes the new version helps the whole industry grow faster. Uniswap ran many bug bounty and auditions before launching the final V3. The new version is now ready for the public with considerable changes in the mining and other mechanisms.
The Begining of a New Era
The DeFi industry has experienced considerable growth in the past years. After the launch of Uniswap in 2018, we have seen many successful projects in the industry. But Uniswap has always been a leading platform in the ecosystem showing the potentials to grow more.
The latest version of the platform called Uniswap V3 is now live on Etherrum mainnet to show there are still many opportunities to grow the DeFi ecosystem.
Uniswap community believes the V3 is very more powerful than the last two versions. Concentrated liquidity is the most important addition to the new version that will offer better capital efficiency for liquidity providers.
It has benefits for traders as well. We can expect the new feature to attract more users to the Uniswap ecosystem and bring more liquidity to pools. It can even result in a price rise for the UNI token. But it’s still soon for any prediction.
The 6-week bug bounty program for Uniswap V3 showed an excellent sign for the new platform. There were no bugs found in the bug bounty program. But the latest announcement from Uniswap still says that there may be bugs in the system that haven’t been founded because V3 is very complex and still needs more deep analysis.
The new version of Uniswap comes with changes in the interface for traders and liquidity providers. Although they can still use the V2 features, we can expect many of them to migrate to the new version. Especially LPs will use the Uniswap V3 to create new positions with multiple fee tiers and concentrated liquidity ranges. The latest announcement adds:
“We have also released a migration portal for Uniswap v2 and Sushiswap LPs to seamlessly migrate their assets over to v3. Due to the introduction of concentrated liquidity, the migration portal requires LPs to specify a fee tier and price range for their allocated liquidity.”
Uniswap also published the walkthrough for migrating to the new V3 here. Another important group of Uniswap users, developers, can start building on the new platform immediately. We can expect more versatile tools and products to emerge on the latest platform soon.