Decentralized Exchange Protocol Uniswap v3 Goes Live On Ethereum

Ethereum makes headlines again. The Uniswap team officially revealed the launch of v3.

“We’re thrilled to announce that Uniswap v3 has been deployed to the Ethereum mainnet! All relevant contact addresses can be found here,” the team said in a blog post.

A migration guide for v3 had previously been added to GitHub.

Uniswap goes live on Ethereum

It’s been revealed that the long-awaited third iteration of the decentralized exchange protocol Uniswap went live the other day.

The Block Crypto notes that “Unveiled in March, Uniswap v3 aims to make the on-network exchange of tokens drastically more capital-efficient. As reported at the time, the design hones in on a capability called concentrated liquidity by which liquidity providers (LPs) can make markets within customized price ranges.”

Here’s what The Block Research’s Mika Honkasalo said during a post-announcement appearance on The Scoop podcast: “I think this is why Uniswap really had nowhere to go in their design except move towards this sort. Of active liquidity provision because that’s something that works with traditional markets.”

More than that, it’s been revealed that the Uniswap team said that Uniswap v3 would be deployed at a later date on Optimistic Rollup – this is a layer-two protocol that’s intended to drive down the transaction costs.

According to official data mentioned by the same online publication that has been brought up above, Uniswap continues to remain the dominant Ethereum-based decentralized exchange. They flaunt about $51 billion in volume during April.

Ethereum accumulation continues

Ethereum has been making headlines a lot these days, especially since the coin exploded in price. At the moment of writing this article, ETH is trading in the green, and the coin is priced at $3,343.15.

ETH went straight to the moon and managed to reach a new ATH.

Recently, it’s been revealed that CNBC notes that the interest in cryptos has surged over the past year, with BTC continuously pushing new record highs.

Previous ArticleNext Article
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.
  • […] post Decentralized Exchange Protocol Uniswap v3 Goes Live On Ethereum first appeared on CryptoGazette – Cryptocurrency […]

  • >