- Uniswap Labs is getting ready to launch the fourth iteration of its platform, v4, providing $2.35 million within the largest prize pool in DeFi historical past.
- Candidates will assist Uniswap independently assess its v4smart contracts and Common Router System, which allows ERC-20 swaps.
Uniswap Labs, the corporate behind the main decentralized crypto trade, has introduced the most important prize pool within the DeFi ecosystem.
The $2.35 million prize pool is out there to builders who take part within the unbiased assessment of the upcoming fourth model, referred to as v4. The Uniswap Basis, whose mission is to construct a self-sustaining group for the Uniswap Protocol, and Cantina, a Web3 safety platform, additionally contributed to the award.
We’re teaming up with @UniswapFND and @cantinaxyz for the most important safety competitors in DeFi historical past
There’s $2.35 million up for grabs to make sure v4 is essentially the most audited code ever deployed on-chain
The competitors begins on September 4 🦄 pic.twitter.com/OwqgxX6pul
— Uniswap Labs 🦄 (@Uniswap) August 16, 2024
Within the announcement, Uniswap revealed that the competitors will begin on September 4 and can final for 3 weeks. All safety specialists and common fans are welcome to submit any vulnerabilities they uncover within the v4 codebase, which draft code founder Hayden Adams launched to the general public final June.
Uniswap awards rewards primarily based on the severity of a developer’s bug. The competitors focuses on the v4 Core Repository, the v4 Periphery Repository and the Common Router. The latter is an ERC20 and NFT swap router that gives customers flexibility for a number of tokens. It permits customers to buy NFTs from eight marketplaces, pack and unpack ETH, partially fill trades, break up trades, and extra.
The brand new competitors can be posted on Cantina’s competitors web page in September. Cantina organizes competitions for builders to seek out bugs in blockchain and crypto functions. The newest was accomplished in June for Euler v2, awarding builders $1.2 million in USDC. Others embody Blast, Curvance, Aave, Centrifuge, Eigenlayer and the Venus Protocol.
The Uniswap v4
Uniswap’s v4 is anticipated to launch later this yr. With every new iteration, the DEX introduces new options to enhance the consumer expertise. With v2 it launched liquidity swimming pools, whereas v3 introduced concentrated liquidity.
V4’s new options embody “hooks,” which the DEX describes as good contracts that may be linked to liquidity swimming pools. It additionally comes with a Singleton contract, which consolidates all swimming pools into one contract, decreasing gasoline prices. Limitless tariff tiers, native Ether help and the Flash accounting system are among the many different modern options.
As with all its different developments, Uniswap includes its group at each step of the v4 journey.
“Uniswap V4 emphasizes a community-driven method to improvement and innovation. Because the code launch, there was lively group involvement, with many points, pull requests, and distinctive function concepts contributed by customers. The protocol is designed to encourage innovation, permitting the worldwide group to form the way forward for AMMs,” the protocol mentioned in one of many updates.
UNI acts on $6.15shed 4% for a market cap of $3.688 billion previously day.