Uniswap Foundation Announces Launch of 'Uniswap v4' Following Ethereum's Dencun Upgrade
The Uniswap Foundation, the organization behind popular DeFi protocol Uniswap, has finally announced the launch of its highly anticipated 'Uniswap v4' following Ethereum's upcoming Dencun upgrade. With the current frenzy in the crypto world, it's no surprise that major crypto companies are making significant upgrades and developments to keep the community and investors engaged.
Development Phases for Uniswap v4
The Uniswap Foundation has outlined three main development phases leading up to the launch of Uniswap v4.
- Code freeze and Testing: Phase 1, which is already in progress, includes the completion of core code, testing, gas optimizations, security enhancements, and finalizing the periphery.
- Audits and testnet deployment: Phase 2 will involve comprehensive audits of the code base carried out by audit firms and a community audit contest.
- Official Launch: Phase 3, the highly anticipated launch of Uniswap v4, is scheduled to take place in the third quarter of 2024.
Uniswap to Support Ethereum's Dencun Upgrade
In addition to the Uniswap v4 launch, Uniswap will also support the upcoming Ethereum Dencun upgrade and implement key features from Ethereum Improvement Proposals (EIPs), specifically EIP-4788, EIP-4844, and EIP-1153. This integration aims to enhance the functionality and efficiency of Uniswap.
Bullish Trend for UNI Token
Meanwhile, Uniswap's native token, UNI, has been experiencing a bullish trend in the past 24 hours. UNI is currently up by 5.46%, trading at $7.53, with a 24-hour trading volume of $188.66 million. The total market capitalization of UNI stands at $4.49 billion, securing the #21 position in the charts.
Considering the overwhelming excitement surrounding Uniswap v4 and the positive performance of the UNI token, it seems that Uniswap is indeed making its mark in the world of decentralized finance.
Analyst comment
Positive news: The Uniswap Foundation has announced the launch of ‘Uniswap v4’ following Ethereum’s Dencun upgrade. The market is expected to see increased interest from investors due to the major upgrades and developments by crypto companies like Uniswap. The launch is set to occur in the third quarter of 2024. Additionally, Uniswap’s native token UNI has shown a bullish trend, with a 5.46% increase in the last 24 hours and a total market capitalization of $4.49 billion.
