Uniswap goes live with v2 of its non-custodial exchange protocol

The next-generation version of Uniswap, the non-custodial exchange protocol, has gone live.

The team behind the Open Finance protocol unveiled its plans for v2 in late March, as The Block reported at the time. The new version introduces features like ERC20 pairs, more manipulation-resilient price oracles and flash swaps, among others. Testing environments for v2 were previously available on the Ropsten, Rinkeby, Kovan and Görli testnets.

The Uniswap team announced v2's deployment on the Ethereum mainnet in a Monday blog post, which highlighted the v2 audit report as well as details about the new version. The blog post also included links for the v1-to-v2 liquidity migration portal, v2 analytics and "an updated interface for swapping and liquidity provision on Uniswap V2."

As noted by The Block's Matteo Leibowitz, Uniswap saw its busiest quarter ever in Q1 2020, when its volumes surged more than 225% compared to the final quarter of 2019. Much of that volume was driven by activity spurred by market turbulence in mid-March – including the so-called "Black Thursday" event. And while volumes dipped comparatively in April, those metrics indicate that May will see around $100 million in volume. 

The team behind Uniswap raised a seed funding round last April, as The Block reported, drawing support from firms including VC company Paradigm. Coinbase also invested in the protocol directly via an infusion from its USDC Bootstrap Fund.