Uniswap (UNI), the leading decentralized exchange (DEX) in terms of trading volume, has implemented a new protocol upgrade on various blockchain networks.
The DEX states that its new “v4” version transforms the protocol into a “developer platform.”

This transformation is made possible with the introduction of hooks, which are contracts that allow users to customize the interactions between pools, swaps, fees, and liquidity provider (LP) positions. Hooks enable the addition of unlimited new features that enhance liquidity and increase the number of swaps.

The v4 version of the protocol is the most cost-effective yet. Creating pools on v4 is expected to be 99.99% cheaper, and users performing multi-hop swaps can anticipate significant cost savings. Additionally, the inclusion of native ETH support results in considerable savings for ETH pairs.

Uniswap also states that the upgrade has undergone nine audits, a security competition, and a bug bounty program with a reward of $15.5 million, and no critical vulnerabilities were found.

Uniswap v4 is currently available on Ethereum (ETH), Polygon (MATIC), Arbitrum (ARB), Optimism (OP) mainnet, Base, BNBChain, Blast, World Chain (WLD), Avalanche (AVAX), and Zora Network.

According to CoinGecko data, Uniswap is the top DEX in terms of trading volume.

At the time of writing, UNI is trading at $11.85. This crypto asset is ranked 28th by market cap and has experienced a decrease of over 2% in the past 24 hours and nearly 6% over the past seven days.

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Generated Image: Midjourney.