The decentralized exchange (DEX) Uniswap has released a draft of the version 4 code with the intention of building in public.
The pillars of the Web3 ecosystem are transparency and decentralization. While many Web2 companies are closed source, Web3 promotes open source and building in public.
Uniswap Invites Community to Build V4
Uniswap, one of the largest DEXes based on trading volume, announced its vision for Uniswap V4 and has asked the community for feedback and contributions.
The “hooks” feature is the center of attention among the community. According to Bankless, hooks would enable the “creation of highly customizable pools,” facilitating dynamic fees, on-chain limit orders, and time-weighted average market orders.
Moreover, Uniswap expects to reduce the cost of pool creation by 99% by consolidating them into a single, smart contract.
Good Time to Move From CEX to DEX?
The community has been happy with Uniswap V4 going taking the public route. A Twitter user wrote:
“Good Time To Move From CEXs to DEXs”
But some community members have also been disappointed with Uniswap (UNI) prices. A Twitter user questioned:
“Will token holders get anything, or is the coin still as worthless as a piece of paper??”
After hitting an all-time high at around $45 in April 2021, the UNI token has been down by over 90%. As of writing, it is trading at $4.29
- If you want to read a step-by-step guide on using Uniswap, click here.
- And for our guide to the best decentralized exchanges, click here.
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