In an environment where decentralized finance (DeFi) is rapidly developing, a new announcement came from Uniswap, the popular decentralized exchange.
Announcing one of its plans for 2024, Uniswap Foundation announced that the launch of Uniswap v4 is tentatively planned for the 3rd quarter of 2024.
In its statement, the foundation said that Uniswap v4 is currently in the early stages, including core code completion, testing, throttle optimization, security improvements and finalization of peripherals.
The second phase is to conduct comprehensive audits and community audit competitions and distribute v4 to the testnet.
The third phase is to transfer Uniswap v4 to the Ethereum (ETH) mainnet in the third quarter.
While it was stated that v4, like v3, will be managed by Uniswap DAO, it was stated that v4 will have great consequences for DeFi as a whole. This is where increased functionality, gas and capital efficiency could help UNI remain the leading DEX
“We are excited to provide an update to the community now that Dencun's launch on Mainnet is planned for March 2024.
The launch of Uniswap v4 is tentatively set for Q3 2024.
We believe v4 should be the most rigorously audited code ever deployed on Ethereum.”
After this announcement, Uniswap's native cryptocurrency UNI rose and joined the crypto rally with a gain of approximately 10% in the last 24 hours.
UNI, which was traded at $7.56 at the time of writing, increased its weekly gains to 15% with strong trading volume.
*This is not investment advice.