Uniswap v4 set to launch in the third quarter of 2024, confirmed
The Uniswap Foundation has officially announced that the release of Uniswap v4 is scheduled for Q3 2024. The upcoming upgrade aims to enhance the functionality and efficiency of the decentralized finance (defi) protocol by incorporating features from the upcoming Ethereum Dencun upgrade. This includes the integration of specific Ethereum Improvement Proposals (EIPs) such as EIP-4788, EIP-1153, and EIP-4844, which are designed to improve the operations and user experience on the Ethereum blockchain.
One notable feature of Uniswap v4 is the implementation of “hooks,” which allow for the integration of custom logic at critical points within the protocol. This includes pools, swaps, fees, and liquidity provider positions. Hooks were introduced in a draft by the Uniswap Foundation on June 13, 2023, with the aim of enabling dynamic adjustments and expanding the range of applications for smart contracts. This has the potential to reduce fees and improve asset management for users.
The upgrade aligns with the Ethereum Dencun upgrade, particularly through the adoption of EIP-1153, which introduces transient storage. This addition enables developers to create optimizations for smart contracts, with the goal of reducing gas fees for users involved in swapping activities or utilizing instant swap features.
Uniswap has announced a comprehensive auditing process for the v4 codebase, ensuring high security and reliability standards before its launch. This includes internal reviews, third-party audits in collaboration with leading web3 audit firms, and a community audit contest. This will make the v4 codebase the most thoroughly audited code to be deployed on Ethereum.
In preparation for v4, the codebase is currently undergoing security enhancements and is in a frozen state as it enters the test net phase. Additionally, Uniswap has launched a $10 million UNI airdrop initiative as a token of appreciation to its community and to encourage wider participation in the DeFi ecosystem.
Uniswap, founded in 2018 by former Siemens mechanical engineer Hayden Adams, has become a prominent player in the defi space. It utilizes the Solidity programming language on the Ethereum blockchain to provide a platform for liquidity provision and decentralized token trading, including crypto-to-crypto and crypto-to-stablecoin pairs. Its open-source approach has fostered a large community, with over three million unique senders contributing to its development.
