Uniswap, a decentralized automated market maker (AMM), has revealed a third version of the protocol. According to an announcement, the new version of the well-known DeFi app will include concentrated liquidity and multiple fee tiers.
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With the new features, Uniswap's oracles will be able to provide time-weighted average prices (TWAPs) on demand for any period within the last nine days. This removes the need for integrators to checkpoint historical values, the developers say.
In addition, starting from v3 liquidity providers could provide liquidity with "up to 4000x capital efficiency."
"These features make Uniswap v3 the most flexible and efficient AMM ever designed," the developers note.
The Uniswap v3 smart contracts are scheduled to be deployed to the Ropsten, Rinkeby, Kovan, and Görli testnets in the coming days. The developers are planning to launch an L1 Ethereum mainnet on May 5 and an L2 deployment on Optimism set to follow shortly after.
Meanwhile, Uniswap's native token UNI entered the top 10 largest cryptocurrencies by market cap. As a result, the cryptocurrency became the first DeFi token to join the selected group of 10 largest cryptocurrencies by market capitalization.
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