Uniswap v3 is available on the Ethereum mainnet

Uniswap announced last Wednesday, May 5, through its Twitter account, that Uniswap version 3 is now available on the Ethereum main network.

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Image about Uniswap’s post on Twitter

“We are delighted to announce that Uniswap v3 has been implemented on the Ethereum mainnet! Uniswap v3 is the most powerful version of the protocol yet, with Concentrated Liquidity offering unprecedented capital efficiency for liquidity providers, better execution for traders, and superior infrastructure at the heart of decentralized finance”, he said through an article published on the website.

Merchants

The company noted that the exchange interface now routes trades through Uniswap v3 and will alert you when a better exchange rate is available in Uniswap v2. “Uniswap’s analytics platform, info.uniswap.org, now tracks version 3 performance”, he added.

Liquidity providers

The company indicated that they have launched a migration portal for Uniswap v2 and Sushiswap LP to seamlessly migrate their assets to v3. Due to the introduction of concentrated liquidity, the migration portal requires LPs to specify a rate level and price range for their allocated liquidity. In addition, he highlighted that the group’s interface now supports the creation of Uniswap v3 positions with multiple levels of fees and concentrated liquidity ranges. “Each booth is represented as an NFT and comes with a unique piece of generative chain art”, he commented.

The company assured that, as for developers, they can start building on Uniswap v3 “immediately”, while answering some of the frequently asked questions by users, among which the following stand out:

1. What about the Uniswap v2 protocol?

The Uniswap v2 protocol will remain functional and available for use as long as the Ethereum network continues to exist. However, we expect that over time the advantages of Uniswap v3 will divert most of the liquidity and trading volume from v2.

2. Do I have to migrate my liquidity?

You do not need to migrate your v2 liquidity if you want to. The Uniswap v2 protocol will remain active and functional in perpetuity. However, it may be advantageous to migrate liquidity, as we expect most of the trading volume, and consequently the generation of LP fees, to take place in v3.

Also read: Charged Particles Announced Successful Seed Round Closure

3. Will the updated Uniswap interface only run operations through v3?

The updated interface will run by default in v3, but it will always alert you if there is a better operation available in v2.

4. Is there a v3 liquidity mining program?

There is no v3 liquidity mining program scheduled for release. Uniswap governance can introduce a liquidity withdrawal program at any time through the standard Uniswap governance process.

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