Uniswap

DeFi

Million

Security

Notable

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/uniswap-labs-launches-2-35-million-security-contest-for-uniswap-v4/" data-wpel-link="internal">Uniswap Labs Launches $2.35 Million Security Contest for Uniswap v4</a><br></p>
<p class="p1" style="text-align: justify">The main development company behind the popular Ethereum-based <a href="https://en.coin-turk.com/what-is-a-decentralized-exchange-dex-2/" data-wpel-link="internal">decentralized exchange</a>, Uniswap Labs, is launching a $2.35 million security contest prize pool for the upcoming v4 or fourth iteration release. The Uniswap team stated, “At Uniswap Labs, we are focused on ensuring that v4 is the most audited set of contracts deployed on-chain.”</p> 
<h2 class="p1" style="text-align: justify" id="notable-move-by-the-uniswap-team">Notable Move by the Uniswap Team</h2> 
<p class="p1" style="text-align: justify">The non-profit Uniswap Foundation and the web3 auditing network Cantina are also supporting the effort. The $2.35 million prize pool is said to be the largest in DeFi history. The prize will fund independent <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">reviews</a> of Uniswap v4’s smart contracts and the new Universal Router system that enables swaps between ERC-20 tokens and NFTs.</p> 
<p class="p1" style="text-align: justify">Audit contests are a common way for teams to discover and fix code vulnerabilities that could be exploited by attackers, marking an important process in cryptocurrencies, especially since smart contracts cannot be updated once launched.</p> 
<p class="p1" style="text-align: justify"><strong>Uniswap</strong> v4 marks a kind of divergence for the pioneering decentralized exchange that launched the first working automated <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> maker to connect buyers and sellers for swapping Ethereum-based tokens. V4 is planned to go live in the third quarter. The team offers forks or smart contract plugins that enable customization, such as setting dynamic fees in Uniswap’s liquidity pools, on-chain limit orders, and custom-built oracles. The last major Uniswap upgrade, v3, was launched in 2021.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380335" src="https://coin-turk.com/wp-content/uploads/2024/08/uniswap.png" alt="" width="500" height="533"></p> 
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2> 
<p class="p1" style="text-align: justify">V4 also aims to reduce transaction costs associated with creating new pools and executing transactions by keeping all liquidity pools in a single contract, freeing users and liquidity providers from fees. While the upgrade is anticipated, it has also sparked discussions; similar to the v3 protocol, v4 will be released under a four-year Business Source License, limiting what others can do with the code.</p> 
<p class="p1" style="text-align: justify">Some see this as a violation of the open-source ethos of cryptocurrency. Uniswap Labs released the draft code for v4 in mid-2023. The audit contest will begin on September 4 and continue until the end of the month. The team shared the following statement:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Anyone can report vulnerabilities in the v4 codebase. Rewards will be allocated based on the severity of the disclosed bug and the quality of the submitted documentation.”</p> 
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/uniswap-labs-launches-2-35-million-security-contest-for-uniswap-v4/" data-wpel-link="internal">Uniswap Labs Launches $2.35 Million Security Contest for Uniswap v4</a></h5>
<p>The post <a href="https://en.coin-turk.com/uniswap-labs-launches-2-35-million-security-contest-for-uniswap-v4/" data-wpel-link="internal">Uniswap Labs Launches $2.35 Million Security Contest for Uniswap v4</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Uniswap Labs Launches $2.35 Million Security Contest for Uniswap v4

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