Uniswap Labs, the innovative decentralized exchange (DEX) platform, has announced the release of an updated version of its protocol, Uniswap v4. This latest release expands the protocol’s support to ten blockchain networks: Ethereum, Polygon, Arbitrum, OP Mainnet, Base, BNB Chain, Blast, World Chain, Avalanche, and Zora Network.
The v4 liquidity pools are now accessible through the Uniswap web app, with the full swapping feature expected to roll out in the coming days. This update represents a significant milestone for Uniswap Labs, as it evolves the Uniswap protocol into a robust platform for developers.
Central to Uniswap v4 are innovative hooks contracts which provide detailed parameter customization for pools, swaps, fees and order interactions. This increased flexibility and functionality enhances the overall user experience and introduces new possibilities for developers working within the Uniswap ecosystem.
The Uniswap team has expressed that v4 is the most cost-efficient version of the protocol to date. The cost of organizing pools is now 99.9% cheaper than in the previous version, Uniswap v3. Additionally, swap users can look forward to significant savings on multicast exchanges.
The development of Uniswap v4 was a community-driven effort, with the team incorporating feedback and suggestions from hundreds of community members. This inclusive approach to development has created a protocol that is more responsive to the needs of its users and more effective in its operation.
The security of Uniswap v4 has been given special attention, with the update code undergoing nine comprehensive security audits. Furthermore, Uniswap Labs has paid out a whopping $15.5 million as part of its bounty program. The good news is that no critical vulnerabilities were discovered, further solidifying the robustness of the protocol.
Uniswap Labs first announced plans for the fourth version of the protocol back in July 2023, outlining a launch date within four months of the Dencun hardfork on the Ethereum blockchain. Before the official release, a draft version of the v4 code was published, providing developers and users a sneak peek into the improved functionalities and features.
According to analysts at dYdX, derivative trading volume on DEX is projected to reach an impressive $3.48 trillion in 2025. With this latest update, Uniswap Labs is positioning itself to be at the forefront of this growth and evolution in the DeFi space.
The release of Uniswap v4 marks another significant stride in the evolution of decentralized finance. By continuously improving its protocol and expanding to support more blockchains, Uniswap Labs is undoubtedly paving the way for more inclusive, efficient and secure DeFi ecosystems.
