Uniswap

DeFi

Million

Foundation

Security

<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-upcoming-v4-release-3/" data-wpel-link="internal">Uniswap Labs Launches $2.35 Million Security Contest for Upcoming v4 Release</a><br></p>
<p class="p1" style="text-align: justify">Popular Ethereum-based <a href="https://en.coin-turk.com/sec-proposes-registration-requirement-for-large-dex-liquidity-positions/" data-wpel-link="internal">decentralized exchange</a> developer Uniswap Labs is launching a $2.35 million security contest prize pool for the upcoming v4 release. The Uniswap team stated that they are focused on ensuring v4 becomes the most audited set of contracts deployed on-chain.</p> 
<h2 class="p1" style="text-align: justify" id="uniswap-team-takes-notable-step">Uniswap Team Takes Notable Step</h2> 
<p class="p1" style="text-align: justify">The non-profit Uniswap Foundation and web3 auditor 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, which allows 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 attackers might exploit, marking an important process in cryptocurrencies, especially since smart contracts cannot be updated after launch.</p> 
<p class="p1" style="text-align: justify">Uniswap v4 signifies a 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 connecting buyers and sellers to swap Ethereum-based tokens. V4 is planned to go live in the third quarter. The team offers forks or smart contract add-ons that enable customization, such as 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 awaited, it has also sparked debates; 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 cryptocurrency’s open-source ethos. Uniswap Labs released the draft code for v4 in mid-2023. The audit contest will start 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-upcoming-v4-release-3/" data-wpel-link="internal">Uniswap Labs Launches $2.35 Million Security Contest for Upcoming v4 Release</a></h5>
<p>The post <a href="https://en.coin-turk.com/uniswap-labs-launches-2-35-million-security-contest-for-upcoming-v4-release-3/" data-wpel-link="internal">Uniswap Labs Launches $2.35 Million Security Contest for Upcoming v4 Release</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 Upcoming v4 Release

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