Uniswap is the leading DEX across the world and has recently taken a huge step. This is mainly for the purpose of launching their 3rd iteration by means of deploying their contracts to all 4 testnets of Ethereum.
The top decentralized exchange has taken a step to ensure the launch of their highly anticipated iteration named V3. They have also made the public announcement of a successful distribution of the smart V3 contracts to the test networks of Ethereum.
Leading DEX, Uniswap, Deploys Contracts
On 21st April, Uniswap Labs announced that the V3 core protocols along with the periphery contracts were deployed to the testnets of ETH including Goerli, Kovan, Rinkeby, and Ropsten. The addresses of the testnets have been issued to Github and they have reminded users regarding the addresses being liable to changes. The addresses have not been finalized because the team does final updates for the periphery repository.
One bug bounty had been started on 23rd March by offering up to $500,000 rewards for serious severity bug discovery in the V3 contracts. The mainnet launch is expected to be on 5th May.
They have resorted to another capital efficiency path for their upcoming update that might be complex for DeFi investors to get their liquidity provision. Few of the upgrades will have multiple fee levels that will enable liquidity providers for compensation.
Uniswap V3 will provide 3 different fee tiers for each pair based on the anticipated pair volatility like 1%, 0.30%, and 0.05%. This will provide more protection against the temporal loss for liquidity providers.
Although the high network fees of ETH that is presently nearly $67.86, DEX will continue to draw more trading volumes. UNI token is presently being traded higher by 6.8%.
