Uniswap (UNI), the top decentralized exchange (DEX) by trading volume, has rolled out a new protocol upgrade across multiple chains.
The DEX says its new “v4” transforms the protocol into a “developer platform.”
“Made possible with the introduction of hooks – contracts that allow anyone to customize how pools, swaps, fees, and LP (liquidity provider) positions interact. Hooks mean unlimited new features that drive deeper liquidity and more swaps.
The lowest cost version of the protocol yet. Pools on v4 are expected to be 99.99% cheaper to create, and swappers can expect significant savings on multi-hop swaps. Plus, native ETH support adds significant savings for ETH pairs.”
Uniswap also says that the upgrade underwent nine audits, a security competition and a $15.5 million bug bounty – none of which unearthed any critical vulnerability.
Uniswap v4 is currently live on Ethereum (ETH), Polygon (MATIC), Arbitrum (ARB), Optimism (OP) mainnet, Base, BNB Chain, Blast, World Chain (WLD), Avalanche (AVAX) and Zora Network.
Uniswap is the top DEX by trading volume, according to data from CoinGecko.
UNI is trading at $11.85 at time of writing. The 28th-ranked crypto asset by market cap is down more than 2% in the past 24 hours and nearly 6% in the past seven days.
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