Uniswap V3 launches on four Ethereum testnets
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Uniswap V3 launches on four Ethereum testnets

Saudu Clement
Saudu Clement

Ahead of the big rollout of Uniswap V3, the leading decentralized protocol has deployed its third iteration to all four Ethereum testnets.

Uniswap announced on Wednesday, April 21, that its V3 core and periphery smart contracts had been deployed to four Ethereum testnets – Ropsten, Gorli, Kovan, and Rinkeby.

The addresses to the testnets were posted on Github. However, the exchange was quick to remind users that the addresses were not final. They will be updated as the team makes final changes to the periphery repository.

Uniswap V3 is expected to hit mainnet on May 5. In anticipation of the upgrade, a bug bounty program was launched on March 23. The bounty offers rewards of up to $500,000 for reporting high severity bugs in the V3 contracts.

In its upcoming upgrade, Uniswap is looking to introduce capital efficiency through concentrated liquidity and multiple fee tiers. V3 also introduces upgrades to the automated market maker bonding curves.

Surprisingly, Uniswap is doing very well despite high transaction costs associated with the Ethereum network. According to Etherscan, the average cost for a token swap on Uniswap currently stands at around $67.86. As reported by BTC PEERS, the exchange recently crossed a weekly trading volume of $10 million for the first time.