Uniswap Labs has shared some detail about its much-anticipated v4 release, which is currently undergoing active development. In a new post, the team behind the DeFi juggernaut Uniswap said it is thinking about the launch of the upcoming version in terms of three milestones.
If no security issues or delays with respect Cancun hard fork and audit process occur, V4 is likely to be launched later this year.
According to Uniswap Foundation’s governance lead, Erin Koen, the first step in the timeline includes publishing of protocol code which was achieved on June 13th. It involved the opening of the protocol repo for public view and contribution, a move meant to underscore Uniswap’s dedication to decentralization.
One of the main factors that V4’s launch relies on is the completion of the audit process, which, in turn, depends on the successful integration of EIP-1153 into Ethereum’s Cancun. The upcoming upgrade is expected to occur in September-end.
Following Cancun, the devs will focus on an extensive auditing process of the v4 codebase before being deployed. The process is estimated to range anywhere between one to four months. Despite providing the timeline, Koen admitted,
“The above timeline 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 subjected to other security testing.”
The V4 upgrade is expected to expand on the DEX’s coin-swapping capabilities by introducing “hooks” and custom liquidity pools. According to Uniswap Labs CEO Hayden Adams, hooks can be described as “plugins to customize how pools, swaps, fees, and LP positions interact.”
The new functionality aims to implement features such as on-chain limit orders and dynamic fees that might be accessible on more traditional exchange platforms but are not easy to bring in a blockchain setting that consists of no centralized infrastructures. Among other features, the pool creation cost on Uniswap v4 will also be slashed by 99% since all pools live within a single contract.