Uniswap v4 expected to go live after Ethereum’s Cancun upgrade and security audit

Quick Take

  •  The Uniswap Foundation has revealed a tentative timeline for the launch of Uniswap’s version 4 (v4) protocol.
  • The timeline for the launch depends on the successful implementation of Ethereum’s Cancun upgrade, which is targeted for the end of September, and the completion of a thorough audit process afterward.

The Uniswap Foundation has shared details on the timeline for the upcoming launch of Uniswap’s version 4 (v4) protocol.

Erin Koen, the governance lead at the Uniswap Foundation, stated the the launch is projected to take place later this year. This timeframe hinges on the successful implementation of Ethereum’s upcoming Cancun upgrade (targeted by the end of September). It will also need the finalization of a comprehensive audit process that may take up to four months after Cancun.

To clarify, the audit process won’t start until after Cancun, Koen told The Block.

Reinventing Uniswap: introduction of “hooks” in version 4

Uniswap, the largest decentralized exchange protocol, is preparing for its next significant evolution with the release of version 4 (v4). Its draft code released on June 13 indicates a shift towards a more modular exchange structure, predominantly through the incorporation of “hooks.” These hooks are smart contracts that will facilitate additional customization in Uniswap's liquidity pools using methods such as dynamic fees, on-chain limit orders, and customized on-chain oracles.


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

The v4 release will also introduce a “flash accounting” system that will result in lower fees for liquidity providers. This system differs from the v3 model, which transferred assets into and out of pools after each swap. Instead, the new method transfers only net balances.

Uniswap’s team anticipates that flash accounting will lead to considerable gas savings in v4. The mechanism relies on “transient storage,” which will be activated by the proposed EIP-1153 change in Ethereum’s protocol, due to be integrated in the upcoming Cancun upgrade.

In this context, Koen said that the next phase in the v4 development process is the ‘protocol code frozen’ stage. This stage includes the incorporation of EIP-1153 into the v4 code. Hence the launch is contingent upon the successful integration of EIP-1153 into the Cancun upgrade, which Koen stated could occur as early as September. The security audit is estimated to take between one and four months following the Cancun upgrade.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Vishal Chawla is The Block’s crypto ecosystems editor and has spent over six years covering tech protocols, cybersecurity, artificial intelligence and cloud computing. Vishal likes to delve deep into blockchain intricacies to ensure readers are well-informed about the continuously evolving crypto landscape. He is also a staunch advocate for rigorous security practices in the space. Before joining The Block, Vishal held positions at IDG ComputerWorld, CIO, and Crypto Briefing. He can be reached on Twitter at @vishal4c and via email at [email protected]


To contact the editor of this story:
Tim Copeland at
[email protected]