The Uniswap Foundation has announced the launch date for the fourth version of its decentralized exchange, which will coincide with the upcoming upgrade to Ethereum. Uniswap v4 will launch in the third quarter after the Dencun update from Ethereum.
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In a message on X, the foundation shared a roadmap, laying out plans for the fresh rollout. Emphasizing they’re currently in the “code freeze” phase, where they’re polishing up the core code, running tests, optimizing gas, beefing up security, and fine-tuning peripherals.
After that, the Uniswap Foundation team will be leaning on auditing firms and hosting a community audit contest to scrutinize the code of version 4. They reckon Uniswap v4 should be the “most rigorously audited code ever deployed on Ethereum.” Meanwhile, the decentralized exchange will be rolled out on a test network while the team makes those final adjustments.
According to the Uniswap Foundation, on the third leg of the journey, Uniswap v4 will be plugged into the Ethereum network in the third quarter of 2024. The organization emphasized that this is a preliminary date, contingent upon the status of the upcoming Dencun update on Ethereum.
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Dencun Upgrade on Ethereum
The Dencun update packs in a few serious changes to Ethereum’s consensus and execution layers, as outlined in a blog post by the Ethereum Foundation on January 24.
This update will follow last year’s Shapella, which went live on the Ethereum network on April 12, 2023. Shapella update waved goodbye to Ether staking and was hailed as a significant move to attract more institutional investors to Ethereum.
The Dencun network update went live on the Goerli testnet on January 17, bringing forth several EIPs (Ethereum Improvement Proposals), including EIP-4844, which introduces proto-dank-sharding—a long-awaited improvement that developers claim will significantly reduce transaction fees on Ethereum’s Layer 2.
Proto-dank-sharding aims to cut down on the cost of bundling transactions and data off-chain, sending computational proofs to the Ethereum blockchain. This is achieved by making data more affordable through the introduction of a new compartmentalized data container called blob objects.
The deployment of Goerli for the Dencun upgrade happened with a four-hour delay. Nonetheless, the rollout of the update on the Sepolia testnet—the second of three Ethereum test networks – went off without a hitch on January 31st. Following the second testnet, the Dencun upgrade completed the third stage of testing after being deployed on the Holesky testnet on February 7th.
On February 8th, Ethereum developer Tim Beyko announced that the update would appear on the mainnet in “slot 8626176.” Blockchain research firm Nethermind emphasized that this would occur on March 13, 2024, at 13:55:35 Coordinated Universal Time. The date was determined by Ethereum developers during a teleconference on February 8th following the successful deployment on the Holesky testnet.
Uniswap’s anticipation of the release of version 4 along with Ethereum’s Dencun update once again highlights the dynamic nature of innovation in the DeFi sphere.
Through planning and rigorous testing, the Uniswap Foundation aims to bring a proven and optimized platform to the Ethereum network. The Dencun update itself represents a major milestone, implementing key improvements to the Ethereum infrastructure aimed at increasing scalability and reducing transaction costs.
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