Uniswap Labs has posted on GitHub an early code implementation of the next version of the protocol called Uniswap v4.
1/ Today, we’re announcing our vision for Uniswap v4 🦄
We see Uniswap as core financial infrastructure & think it should be built in public with space for community feedback and contribution.
An early implementation of the code can be found here:https://t.co/toy3k7plnU pic.twitter.com/9vGJElba2x
— Uniswap Labs 🦄 (@Uniswap) June 13, 2023
“We see Uniswap as a key financial infrastructure and believe it should be built publicly with feedback and community input,” the developers said.
One of the main features of the v4 version of the decentralized exchange will be the use of “hooks” (hooks). These are plugins that allow you to implement completely new functions for liquidity pools, such as dynamically adjusting commissions or creating different types of orders.
To demonstrate the capabilities of the option, the developers wrote several examples of “hooks”. Among them:
- time-weighted average market maker (TWAMM);
- individual on-chain oracles;
- limit orders.
3/ We’ve written a few sample hooks to demonstrate their expressiveness & capabilities:
⌛ Time-weighted average market maker (TWAMM)
🔮Customized onchain oracles
📖Onchain limit ordershttps://t.co/Yu5OGIdxe3 pic.twitter.com/ZdFqElnsap
— Uniswap Labs 🦄 (@Uniswap) June 13, 2023
Since the diversity of pool settings will lead to an increase in their diversity, the team made changes to the architecture to better match this structure.
In Uniswap v3, a separate smart contract is deployed for each pool. In v4, one singleton contract will be used for this, which will provide significant gas savings.
“Preliminary estimates show that v4 reduces gas costs for pooling by 99%. Hooks open up a world of endless options, and singleton allows us to use them all effectively,” said Uniswap founder Hayden Adams.
5/ v4 pools will live in a single contract, reducing the cost of pool creation by 99% 🔂
When combined with a new “flash accounting” system, this greatly reduces the cost of routing across many pools ⚡ pic.twitter.com/JNbmt9Smfz
— Uniswap Labs 🦄 (@Uniswap) June 13, 2023
Recall that on April 1, Uniswap Labs lost exclusive commercial rights to the Uniswap v3 code due to the expiration of the license BSL.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!