Uniswap deployed V3 contracts to four major Ethereum testnets Rinkeby, Kovan, Ropsten, and Goerli as we can see more in our latest Ethereum news today.
The leading decentralized exchange Uniswap deployed V3 contracts to all Ethereum test networks and in the announcement, Uniswap Labs confirmed that the V3 core protocol and periphery smart contracts have deployed to Ropsten, Kovan, Rinkeb, and Goerli. The testnet addresses were posted to Github with Uniswap while reminding the users that the addresses are not final and will be changed while the team makes final updates to the periphery repository. Version three of the core contracts was also deployed to GitHub.
The big bounty was started at the end of March offering rewards up to $500,000 for the discovery of thigh severity bugs in the version 3 contracts. As per the official announcement, Uniswap v3 is expected to launch the mainnet on May 5. Uniswap has taken a path to boost the efficiency for the next upgrade that could complicate the passive income aspect of the liquidity provider for the Defi investors.
Some of the upgrades in the next iteration include multiple fee tiers that allow liquidity providers to be compensated for taking varying degrees of risk. There are also upgrades to the automated market maker bonding curves which are aggregating the individual positions into one pool to form one combined curve for the users to trade against. Uniswap V3 offers three separate fee tiers per pair according to the expected pair volatility of 0.05%, 0.30%, and 1.00% offering greater protection against the impermanent loss to the liquidity providers.
Despite the high Ethereum network fees that are now about $67.86 on average for a token swap on Uniswap as per Etherscan with the DEX continues to attract high trading volumes. Uniswap founder Hayden Adams posted that the platform reached the milestone of $10 billion in one weekly trading volume for the first time. At the time of writing, the DEX native UNI token was trading at 6.8% higher over the past 24 hours as per the data on CoinGecko. The UNI token was changing hands for lower than $32 but down from their all-time high in April of $39.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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