Uniswap (UNI), a pioneering decentralized exchange protocol, is on the rise today after it revealed its plans to roll out the latest version of its unique trading engine. Dubbed Uniswap V4, this latest update, according to the Uniswap Foundation, will be introduced after the upcoming Dencun upgrade of the Ethereum mainnet.
Uniswap (UNI), a pioneering decentralized exchange protocol, is on the rise today after it revealed its plans to roll out the latest version of its unique trading engine. Dubbed Uniswap V4, this latest update, according to the Uniswap Foundation, will be introduced after the upcoming Dencun upgrade of the Ethereum mainnet.
Uniswap V4: New Game Changer
Uniswap launched in 2018, but didn’t rise to prominence until it launched its native token, UNI, in September 2020. A pioneer in the automated market maker (AMM) scene, Uniswap has made considerable efforts to improve speed. , the versatility and other performance of its engine. characteristics over the years.
According to the announcement, the Uniswap V4 protocol will be implemented in three distinct phases, including the code freeze, audit and testing, and launch phase. Uniswap developers will complete all coding work in the code freeze phase, in addition to performing “testing, gas optimizations, security improvements, and finalizing the edge.”
In the audit phase, the Uniswap Foundation confirmed that a comprehensive audit will be carried out along with a community contest. The codes will be implemented on the test network and will be accompanied by final adjustments. As detailed, Uniswap V4 could prove to be the most audited protocol in the Web3 ecosystem in recent times, complementing V3, known for its efficient performance.
The launch is planned for the third quarter, when the Uniswap V4 platform will be open to the public. Known for its constant updates, this V4 update will serve as a complementary improvement to the entire Uniswap brand.
UNI price reacts
According to the update from the Uniswap team, the price of UNI has skyrocketed massively, taking it to its best trading range since the beginning of the year. At the time of writing, Uniswap is trading for $7.57an increase of 10.2% in the last 24 hours.
The rally has also pushed the token further to a weekly high of 17.62% as it appears to hit its best price of $8 in over a month.
