Uniswap Foundation revealed in a tweet on Thursday that the much anticipated Uniswap v4 will likely launch in Q3 of this year.
The draft code for Uniswap v4 was first revealed in June last year, and introduced the concept of “hooks.”
Hooks address the rigidity of traditional smart contracts by allowing developers to inject custom logic at specific points, enabling dynamic adjustments and diverse use cases. For users, this means potentially lower fees, better strategies for managing their assets and access to cool new features like instant swaps.
Read More: What has Uniswap Labs cooked up for v4?
Following Ethereum’s Dencun upgrade, which is anticipated to occur in March 2024, multiple Ethereum Improvement Proposals (EIPs) will also go live. This includes EIP 4788, EIP-1153 and EIP-4844.
The one that is particularly relevant to Uniswap v4 is EIP-1153, which will enable transient storage.
EIP-1153 will allow developers to optimize smart contracts for more complex functionality, Blockworks Research Analyst, who goes by the pseudonym 0xpibblez, wrote in a research paper.
Read more: Ethereum Improvement Proposals to watch in 2024
“Uniswap v4 will store all assets in a singleton contract and rely on transient storage to conduct “flash accounting,” which drastically reduces gas fees associated with a swap,” he wrote. “EIP-1153 also opens the design landscape for Uni v4 hooks, where different functions can be integrated at points with a liquidity pool’s life cycle with low gas costs.”
To ensure that the launch of Uni v4 is as smooth as possible, the Uniswap Foundation tweeted that v4’s code “should be the most rigorously audited code ever deployed on Ethereum.”
Uniswap developers have currently frozen the v4 code and are working on security improvements and finalizing and testing its applicability.
A comprehensive audit will be conducted following an internal review in partnership with various Web3 audit firms and a community audit contest will also be conducted.