Uniswap Labs has shared some details about its highly anticipated v4 release, which is currently in active development. In a new post, the team behind DeFi giant Uniswap said that it is looking at the release of the next version in terms of three milestones.
Barring any security issues or delays regarding the Cancun hard fork and audit process, V4 is likely to be released later this year.
Updates in Uniswap V4
According to the Uniswap Foundation’s government leader, Erin Koen, the first step on the timeline includes the publication of the protocol code which was achieved on June 13. It involved opening up the protocol repository for public viewing and contribution, a move meant to underscore Uniswap’s dedication to decentralization.
One of the main factors why the V4 launch depends on the completion of the audit process, which, in turn, depends on the successful integration of EIP-1153 into Ethereum Cancun. The next update is expected to happen at the end of September.
After Cancun, developers will focus on an extensive v4 codebase auditing process prior to deployment. The process is estimated to range from one to four months. Despite providing the timeline, Koen admitted:
“The above schedule is purely indicative and it should be noted that the Cancun hard fork could be delayed, the audit process could be extended, and the protocol could be subject to further security testing.”
What’s new in V4?
The V4 update is expected to expand DEX coin trading capabilities by introducing “hooks” and custom liquidity pools. According to Uniswap Labs CEO Hayden Adams, hooks can be described as “plugins for customizing how pools, exchanges, fees, and LP positions interact.”
The new functionality is intended to implement features such as on-chain limit orders and dynamic fees that may be accessible on more traditional exchanges, but are not easy to incorporate into a blockchain setup consisting of non-centralized infrastructures. Among other features, the cost of pool creation in Uniswap v4 will also be reduced by 99% since all pools live within a single contract.
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