Leading decentralized exchange Uniswap has taken a step closer to launching its anticipated ‘V3’ iteration. Uniswap announces the deployment of its V3’s smart contract to four Ethereum testnets. All Four Ethereum Testnets are Ropsten, Rinkeby, Kovan and Goreli.
The Testnet addresses are presented on Github. Uniswap reminds users that the address will be change as a team makes final updates.
Uniswap V3 is expected to launch on mainnet on May 5. The big Bounty offers rewards of up to $500,000 for reporting high severity bugs in the V3’s Contracts.
In its upcoming upgrade Uniswap is looking to introduce capital efficiency through concentrated liquidity and multiple fee tiers. Also, introduce an upgrade to the automated market maker bonding curves. This will aggregate individual positions into a single pool to form one combined curve for a user to trade.
Uniswap V3 offers three separate fee tiers per pair according to expected pair volatility – 0.05%, 0.03%, and 1.00%. This will provide protection against impermanent loss to liquidity providers.
Uniswap is doing well despite high transaction costs associated with the Ethereum network. According to Etherscan average cost for a token swap on Uniswap currently stands at around $76.53.
On April 20, As Uniswap founder posted that the platform crossed a weekly trading volume of $10 million for the first time.
