Uniswap launched its v4 upgrade on mainnet, featuring hooks for developer customization, cheaper operations, and more. The release came slightly later than initially anticipated.
However, this upgrade did not fulfill expectations that it would create price momentum for UNI. Its price briefly shot up but immediately crashed back down, and bearish conditions continued.
The Long-Awaited Uniswap v4 for Developers
Uniswap, a popular Ethereum-based decentralized exchange, finally launched its long-awaited v4 upgrade. This upgrade was first announced in June 2023, but a clear timeline for mainnet release was never clearly established.
The upgrade was announced earlier in the week and went live on mainnet today.
“Uniswap v4 is here! v4 turns Uniswap Protocol into a developer platform. Made possible with the introduction of hooks ‒ contracts that allow anyone to customize how pools, swaps, fees, and LP positions interact. Hooks mean unlimited new features that drive deeper liquidity and more swaps,” Uniswap claimed via social media.
Uniswap developers listed several key features of v4, the most significant of which is hooks. The v4 upgrade is also the most affordable incarnation of the protocol, with developers claiming pools will be 99.99% cheaper to create.
It also includes native Ethereum support and was constructed alongside community collaboration.
However, there has been a slight snag in the v4 release: its impact on Uniswap’s UNI token. When v3 launched in 2021, it caused a huge uptick in token value and user activity. The v4 mainnet upgrade caused a momentary spike in the price of UNI, but these gains immediately evaporated.
A few factors may have contributed to this flop. Although UNI reached its 3-year-high in mid-December, the token’s value plummeted a week later.
Some community members hoped that the v4 mainnet release would give Uniswap new forward momentum, but the market didn’t cooperate.
The macroeconomic factor continues to impact UNI’s price, but the v4 upgrade might help Uniswap regain some momentum in the intense DEX market.
Developers consistently showed high confidence in the project, offering record-high bug bounties to anyone who could expose a security flaw. In any event, only time will tell whether v4 can live up to the expectations placed upon it.
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