Uniswap Version 2 Goes Live On Ethereum Mainnet Promising Enhanced Features

Uniswap v2 introduces a pair of new features aimed at reducing market volatility, transaction fees and overall efficiency.

  • Uniswap v2 goes live on Ethereum mainnet
  • Flash loans are among the new features of Uniswap v2

Uniswap v2 Goes Live on Ethereum Mainnet

In an announcement on May 19, 2020, decentralized finance platform, Uniswap, announced that its new set of updates are live on Ethereum mainnet. This follows the successful testing of the platform on Ropsten, Rinkeby, Kovan and Görli testnets.

According to Uniswap’s project lead – Hayden Adams – the second iteration aims to solve the piercing challenges faced on the premier version including running all token swaps through ETH.

The Uniswap v2 will also add a new oracle system to complement its already running price oracle in a bid to onboard new users to DeFi projects.

The Uniswap v2 Upgrades

Following the announcement of Uniswap's latest version back in March, the Uniswap v2 platform is finally live on the Ethereum network.

While the platform greatly differs from its predecessor, three features are highlighted in the post including:

  • Flash loans
  • Manipulation-resilient price oracles
  • The ability for anyone to create any token pair they want, if it’s on Ethereum.

Uniswap v1 supported an Ethereum-only swapping feature which always required two trades to complete ERC 20 token pair exchanges.

The second iteration is expected to have a direct pair of ERC 20 tokens; lowering the cost of the transaction while allowing liquidity providers to reduce their volatility on one side of the pool if paired with stablecoins.

The new v2 platform will include flash loans: a topic that has been met with a collective raising of eyebrows for many across the crypto industry.

To summarize: Flash loans permit a user to borrow any amount up to the total liquidity available, so long as the whole sum gets returned in the same transaction. The Uniswap v2 flash loans are expected to lower the overall number of transactions a user makes, saving them on fees.

Another distinctive feature is the introduction of manipulation-resistant price oracles that will provide backup for the Uniswap price discovery system. Uniswap will not use these price oracles as a main point of reference, however. But as a way of improving its own systems. Adams said:

“There is this huge demand for oracles, and it's a very valuable thing to have an on-chain price feed, especially a decentralized one.”

Uniswap currently holds over $43 million in locked value on the platform representing a 2.3% drop in the past 24 hours.

Ethereum (ETH) Live Price

1 ETH/USD =$239.4030 change ~ -5.04%

Coin Market Cap

$26.62 Billion

24 Hour Volume

$2.72 Billion

24 Hour VWAP

$238

24 Hour Change

$-12.0658

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,440FansLike
2,795FollowersFollow
4,189FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Venezuela Changes Policy to Enable Paying For Fuel With Petro Cryptocurrency

Venezuela has made a major change to its policy which offered subsidized fuels to its citizen amid a shortage of fuel across the country...

‘Big Buys' on Bitfinex Exchange has Bitcoin Trading at a Premium

The world’s leading cryptocurrency shot past $10,000 yesterday in a strong move only to fall to $9,150 on Bitfinex and $8,600 on BitMEX in...

Russia to Prohibit Crypto Circulation, Mining, and Ads Under New Draft Law For Digital Assets

Cryptocurrency regulations are quite tricky and up until now, only a few countries can boast of finding the right mix of existing new laws...

China’s Largest Mining Chip Maker, SMIC, Gains Regulator’s Approval On $2.8B IPO

One of China’s biggest semiconductor manufacturer, SMIC, announces plans to raise a $2.8 billion public sale IPO on the Sci-Tech Board of the...

Bitcoin Flash Crashes to $8,600 with BitMEX Shenanigans at Play Again

Bitcoin doing bitcoin things! Today, Bitcoin had yet another moment like March 12, although the price didn’t crash that low. https://twitter.com/100trillionUSD/status/1267835341987340288 Yesterday, Bitcoin jumped as high as...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today