Uniswap (UNI), the leading decentralized exchange (DEX) in terms of trading volume, has implemented a new protocol upgrade on various chains.
The DEX announces that its new “v4” version transforms the protocol into a “developer platform.”

This transformation is made possible with the introduction of hooks, which are contracts that enable customization of the interaction between pools, swaps, fees, and liquidity provider (LP) positions. Hooks provide unlimited new features that enhance liquidity and increase the number of swaps.

The latest version of the protocol is the most cost-effective one yet. It is expected that creating pools on v4 will be 99.99% cheaper, and swappers can anticipate significant savings on multi-hop swaps. Additionally, the support for native ETH pairs will result in substantial savings for ETH transactions.

Uniswap also mentions that the upgrade has undergone nine audits, a security competition, and a bug bounty program worth $15.5 million. However, none of these processes revealed any critical vulnerabilities.

Uniswap v4 is currently available on Ethereum (ETH), Polygon (MATIC), Arbitrum (ARB), Optimism (OP) mainnet, Base, BNBChain, Blast, World Chain (WLD), Avalanche (AVAX), and Zora Network.

According to data from CoinGecko, Uniswap is the leading DEX in terms of trading volume.

As of now, UNI is trading at $11.85. This crypto asset, ranked 28th by market cap, has experienced a decrease of over 2% in the past 24 hours and nearly 6% in the past seven days.

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