Uniswap, the pioneer in decentralized exchanges, has taken a step forward in launching the long-awaited “V3” iteration by announcing the successful deployment of V3 smart contracts across all Ethereum test networks.
In an announcement on April 21, Uniswap Labs confirmed that the basic V3 protocol and groundbreaking smart contracts have been distributed across all major Ethereum test networks – Ropsten, Rinkeby, Kovan and Goerli.
Testnet addresses are published on Github, with Uniswap reminding users that the addresses are not final, and will change as the team makes final updates to the ocean database. The base contracts for the third edition are also published on GitHub.
On March 23, the Contract Error Reward V3 was launched, with bonuses of up to $ 500,000. According to the official announcement, Uniswap v3 will be launched on the main network on May 5.
Uniswap has taken the capital efficiency route for its upcoming update, which can complicate the passive income side by offering liquidity to many of Defi’s sporadic investors.
Some updates in the next iteration include several levels of commission that allow liquidity providers to compensate for varying degrees of risk. There are also updates to automated market maker correlation curves that combine individual positions in a single pool to form a single common curve that users can trade.
Uniswap V3 offers three separate commission levels for each pair according to the pair’s expected volatility – 0.05%, 0.30% and 1.00% – providing greater protection against volatile losses for liquidity providers.
Despite higher Ethereum network fees, which currently average around $ 67.86 per token exchange on Uniswap, according to Etherscan, DEX continues to attract significant trading volumes.
On April 20, Uniswap founder Hayden Adams revealed that the platform reached $ 10 billion in weekly trading volume for the first time.
At the time of writing, UNI’s DEX token has been trading 6.8% in the last 24 hours, according to CoinGecko. UNI coins are trading for less than $ 32, but lower than April 15 at $ 39.20.