Uniswap has launched V3 contracts on four Ethereum testnets.

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The world’s leading DEX has taken an important step towards releasing its third version by installing contracts on all four Ethereum testnets.

Leading decentralised exchange Uniswap has announced the successful rollout of V3’s smart contracts to all Ethereum test networks, bringing it one step closer to the introduction of its widely awaited “V3” version.

 

In an April 21 announcement, Uniswap Labs confirmed that the protocol’s V3 core and periphery smart contracts have been deployed to all major Ethereum testnets — Ropsten, Rinkeby, Kovan, and Goerli.

The testnet addresses were posted to Github, with Uniswap reminding users that the addresses are not final and will be changed as the team makes final updates to the periphery repository. Version three’s core contracts have also been deployed to GitHub.

On March 23, a bug bounty programme was launched, providing incentives of up to $500,000 for the detection of high-severity vulnerabilities in V3 contracts. According to the official release, Uniswap v3 will go live on the mainnet on May 5.

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For its next update, Uniswap has chosen a capital-efficient course, which will exacerbate the passive income element of liquidity provision for many casual DeFi investors.

 

The next version will have several fee rates, which will enable liquidity suppliers to be paid for taking on different degrees of risk. There are also enhancements to the automatic market maker bonding curves, which merge individual positions into a single pool to form a single combined curve on which users can trade.

Uniswap V3 provides three different fee tiers per pair based on projected pair volatility — 0.05 percent, 0.30 percent, and 1.00 percent — providing liquidity suppliers with better security against impermanent failure.

Despite the high Ethereum network fees, which are currently around $67.86 on average for a token swap on Uniswap according to Etherscan, the DEX continues to attract high trading volumes.

On April 20, Uniswap founder Hayden Adams announced that the site had surpassed the $10 billion weekly trading volume mark for the first time.

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According to CoinGecko, the DEX’s native UNI token was trading 6.8 percent higher in the previous 24 hours at the time of publication. UNI tokens were trading for just under $32, down from their all-time high of $39.20 on April 15.

 

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