V4 is expected to be launched in Q3 this year and the first phase has been completed! Uniswap opens K-line chart function

Uniswap, the leading decentralized exchange, tweeted on the X platform yesterday (5th) to announce that the Uniswap platform has officially launched the Candlestick chart function.

UniswapX was launched last month, and the V4 version is expected to be in Q3 this year

In addition, in July last year, Uniswap planned to launch a non-custodial, Dutch auction-based protocol UniswapX, which was officially launched last month. It will help users gradually achieve an on-chain trading experience comparable to CEX such as aggregated liquidity, MEV prevention, and gas-free trading.

Currently, users can already experience the "zero Gas" and "MEV-proof" on-chain transaction experience brought by UniswapX on the Uniswap web application. However, because the product is in its early stages and the current popular narrative in the market is not on the Ethereum ecosystem, UniswapX's discussion and usage intensity are not high.

On the other hand, Uniswap announced in mid-February that Uniswap V4 is tentatively scheduled to be launched on the Ethereum mainnet in the third quarter of 2024. In addition, the v4 version will go through three stages before being launched:

• Phase 1: Code Freeze

Core code completion, testing, gas optimization, security enhancements, and finalization of minor parts.

Note: "Code Freeze" refers to a stage in the software development process in which the code of the protocol is fixed and no large-scale changes are made. At this stage, the development team stops adding new features or modifying existing features to the protocol to ensure the stability and reliability of the protocol.

• The second phase: audit and test network

There will be a comprehensive audit and community audit competition by multiple audit companies. At the same time, v4 will be deployed to the testnet and final adjustments to the code will be made.

• The third phase: launching the mainnet online

v4 is expected to be launched on the Ethereum mainnet in the third quarter.

According to a tweet from the Uniswap Foundation in April, Uniswap v4-core (Pool Manager) is about to enter a code freezing period. The deployed V4 version functions will be regarded as complete code and no new functions or functions will be added. rebuild. At the same time, after the code is frozen, it will enter the second phase: review and test network.

Uniswap received SEC Wells notification

Although Uniswap is progressing smoothly in terms of application functions, last month Uniswap founder Hayden Adams tweeted on the The U.S. Securities and Exchange Commission (SEC)’s Well Notice may face litigation.

However, it is worth noting that receiving the Wells Notice from the SEC does not necessarily mean that a formal lawsuit will be filed. Usually, the initiation process of the Wells Notice is:

1. A warning issued to an individual or business after a company investigation has concluded

2. After receiving a Wells Notice, the business will be given 30 days to rebut the charges and present arguments to prove its innocence

3 After submitting the notice, the SEC has 6 months to decide whether to file a complaint and take enforcement action

Which other encryption companies have received Wells Notices from the SEC?

• #Ripple Labs: In December 2020, the SEC accused Ripple and two of its executives of selling securities without registering, resulting in the immediate delisting of XRP from Coinbase. (SEC prosecutes)

• Coinbase: In March 2023, the SEC sent a Wells Notice to Coinbase. Coinbase’s stock price fell by more than 15% after the market closed, and protests continued. (SEC prosecuted in June)

• "Paxos", once the third largest stablecoin BUSD issuer, received a Wells notice in February 2023, and Paxos was terminated shortly after Cooperation with Binance on BUSD. (The New York Department of Financial Services ordered Paxos to stop minting new BUSD)

Although receiving a Wells notice does not necessarily mean that you will be sued by the SEC, based on past experience, the SEC The probability of prosecution is not low, especially in the cryptocurrency field. Companies usually proceed to the stage of civil litigation, and the final result is often to settle and lose money.

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