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Uniswap Foundation postpones V4 mainnet due to Dencun release



The Uniswap Foundation has officially rescheduled the launch of its V4 till Q3 2024 because of the upcoming release of Dencun on Mainnet in March 2024. This update is meant to align with the general anticipated changes with the Dencun release.

The Dencun upgrade is a hard fork of the Ethereum blockchain expected to take place in the first quarter of 2024. It includes five Ethereum Improvement Proposals (EIPs) that aim to add more storage for data, reduce fees, and improve scalability. 

The most significant feature of the upgrade is EIP-4844, also known as proto-dank sharding, which will scale the blockchain by making more space for “blobs” of data, expected to decrease gas fees for layer 2 rollups. Other EIPs that made the cut are EIP-1153, EIP-4788, EIP-5656, and EIP-6780. 

Dencun upgrade will enhance Ethereum’s scalability via rollups, optimize gas fees, improve the network’s security, and implement several housekeeping updates. 

The Dencun upgrade will combine two upgrades, Cancun and Deneb, and bring various new features. 

The most notable of those features is proto-dank sharding, which will improve Ethereum’s scalability when it finally arrives on the mainnet. 

Uniswap is a decentralized exchange protocol that facilitates the automated trading of multiple tokens on several blockchains. 

It operates using an automated market maker (AMM) model, which allows users to provide liquidity to the platform and earn fees. 

Uniswap was launched in November 2018 by Hayden Adams and has since become one of the largest decentralized spot exchanges in the world, facilitating over $135 billion in trades. 

The protocol has undergone several upgrades, including Uniswap v2 and v3, which aimed to make transactions cheaper and faster.

The Uniswap Foundation supports the growth and innovation of the Uniswap Protocol ecosystem in decentralized finance (DeFi). 

Established to grant funding to contributors and encourage community involvement in governance, the Foundation plays a role in advancing the broader DeFi space. 

While not directly engaged in Uniswap Protocol development, it actively supports the community in building and sustaining the ecosystem.

Uniswap’s V4 launch involves three phases. The first, Code Freeze, includes completing core code, testing, gas optimizations, security enhancements, and finalizing peripheral elements. 

The second phase focuses on auditing and testnet deployment, with multiple audit firms and a community contest. Finally, the launch is set for Q4 2024. The Uniswap Foundation noted it is dedicated to making V4 the most rigorously audited code on the Ethereum blockchain.

Read also; OpenAI unveils Sora, its Text-to-Video product; CEO tests it publicly

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