Uniswap Drops v3 Teasers — What to Expect from the Big Upgrade

Share Article
In Brief
  • Uniswap drops another v3 teaser, but no launch date given.

  • L2 scaling, more yield farms, and improved UX expected.

  • UNI prices up 3% as analysts eye a $50 all-time high.

  • promo

    Join the BIGGEST ICO ever launched in Spain: Buy B2M now.

The Trust Project is an international consortium of news organizations building standards of transparency.

The Uniswap team has been issuing teasers for its version 3 (v3) release, but no official launch date has been set.

Sponsored



Sponsored

Another teaser has emerged from the Uniswap Labs team depicting an animated video alluding to its version 3 launch.

The crypto Twittersphere is awash with commentary today following the tweet as the hype intensifies. Blockchain researcher Larry Cermak compared it to TRON CEO Justin Sun’s hype-building announcements.

Sponsored



Sponsored

“Justin Sun has literally nothing on v3’s announcements of announcements,”

What Can We Expect from v3?

The most highly anticipated improvement is Layer 2 scaling. This is because in its current state, Uniswap is too expensive for most smaller DeFi traders.

According to the Etherscan gas tracker, the average cost of a Uniswap swap is $42.72. This eliminates all but the whales and forces DeFi newbies to seek cheaper alternatives such as the Binance Smart Chain-based PancakeSwap.

Uniswap is likely to use Optimism for its L2 solutions which are based upon optimistic rollups. In essence, these rely on publishing the data on the blockchain and allowing a challenge period.

More yield farming incentives might be introduced to kick start the upgraded platform. Liquidity surged in September 2020 when Uniswap launched its UNI token and four ETH pools to farm it. The same is likely to happen if it repeats the incentives to coincide with the v3 launch. The DEX currently has a TVL of $5.2 billion according to DappRadar.

An airdrop could potentially accompany the launch. However, Uniswap has already done this and a lot of the tokens were prematurely sold on the market.

A major user interface overhaul is also likely. In its current state, the exchange is a bit clunky to use for the uninitiated. A vastly improved user experience will automate a lot of the things that currently have to be done manually.

A native Uniswap wallet may also be in the cards to alleviate the need to link to third-party ones.

UNI Price Update

UNI prices have climbed 3% on the day to reach $34.30 at the time of press. The DEX token is up 16% on the week and around 20% over the past 30 days. It’s currently very close to its all-time high of $35 reached on March 20.

Some analysts expect UNI prices to go even higher after v3 is released.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Martin has been covering the latest developments on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

Follow Author

Market signals, studies and analysis! Join our Telegram Today!

Go

Bit2Me ICO JUST STARTED! Buy B2M token now.

Buy now!

Market signals, studies and analysis! Join our Telegram Today!

Go