Uniswap, the decentralized change (DEX) with probably the most buying and selling quantity on Ethereum, launched its model 2 (Uniswap v2) on six new networks. The protocol’s codebase is now playable on Arbitrum, Optimism, Polygon, BNB Chain, Avalanche, and Base.
“With variations 2 and three accessible on all supported networks, customers have the pliability to decide on between the simplicity of v2 and the superior options of v3,” mentioned the Uniswap workforce. That is primarily noticeable when interacting with liquidity swimming pools or creating them, they spotlight.
Whereas Uniswap v3 provides extra prospects for liquidity suppliers, v2 permits for an easier expertise. “In contrast to model 3, in model 2, swimming pools cowl the complete worth vary of the pool by default, lowering the necessity for asset administration and monitoring as a liquidity supplier,” they specify.
Moreover, Utilizing model 2 of the change lets you save on fuel, with prices of lower than one greenback for token exchanges. On Ethereum, the identical operation can price $35 on common, the assertion compares. Exchanges on Uniswap v2 additionally don’t help MEV (apply of Ethereum validators to reorder transactions to mine extra money), which advantages customers of the DEX when buying and selling much less frequent cryptocurrencies and tokens.
An essential advice that the Uniswap workforce provides is to entry the model 2 liquidity swimming pools from the Uniswap interface. The recommendation is as a result of additionally it is doable to take action from different protocols primarily based on the Uniswap v2 code in networks akin to Binance Sensible Chain (BNB Chain), Base and Arbitrum, amongst others.
In keeping with the DeFiLlama web site, there are 568 forks primarily based on Uniswap v2. Among the many most used are PancakeSwap, SushiSwap, Katana Dex, VVS Commonplace and Saucer Swap. However many of those a whole lot of protocols suffered from vulnerability exploits, bugs and assaults that led to the lack of USD 55 million in 2023 alone, warns Uniswap, and that’s the reason they advocate utilizing the unique interface even to function on the aforementioned networks.
How are you going to entry Uniswap v2?
“For customers who want to commerce utilizing model 2, they will go to app.uniswap.org, choose their community and the tokens they want to commerce. The Uniswap interface will direct your change by way of the model of the protocol with the most effective worth (which may very well be model 2, however may be routed by way of model 3 or UniswapX),” explains the DEX improvement workforce.
Uniswap v2 is a really profitable iteration of the Ethereum DEX. The entire worth locked (TVL), that’s, the funds deposited within the swimming pools and different capabilities of the protocol, quantities to USD 2,034 million. V3, in the meantime, accumulates USD 2,759 in TVL.
The particularity of not “abandoning” its earlier variations is already a trademark in Uniswap. Though the DEX has a more moderen and extra superior model, model 3, and even with v4 in improvement, it’s nonetheless engaged on Uniswap v2. It’s clear that, along with having advantages for customers akin to these talked about above, its large adoption nonetheless implies important revenue for Uniswap Labs, developer of the protocol.
