On April 7, according to the official announcement, the Uniswap web version has been officially launched on UniswapX. The next day, Uniswap Labs official Twitter posted that users can already experience the zero Gas and anti-MEV chain brought by UniswapX on the Uniswap web application. on trading experience. Since the launch of the testnet version in July last year, UniswapX, which has been highly anticipated by the market, has finally met users after eight months.
On July 17 last year, Uniswap announced the launch of the non-custodial, Dutch auction-based protocol UniswapX, which will help users gradually achieve an on-chain trading experience comparable to CEX such as aggregated liquidity, MEV prevention, and Gas-free transactions. Subsequently, UniswapX entered the intensive product development stage. In September of the same year, Uniswap Labs launched a bug bounty program. The bounty scope includes Router, V3, UniswapX and other contracts, with rewards up to US$2.25 million.
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In February of this year, Uniswap Labs announced the launch of a limit order feature powered by UniswapX that leverages on-chain and off-chain liquidity with no GAS fees and can be set up for any exchange size with no minimum requirements. If the market reaches the user-specified price and UniswapXs Fillers accept the users exchange request, the order will be automatically executed without any GAS fees. If the order is not fulfilled within the time set by the user, the order will expire, and no fees will be incurred for expired orders.
According to UniswapOfficial detailed documentation, UniswapX is an open network that outsources routing complexity to third-party fillers. Fillers then compete to fill transactions using on-chain liquidity (such as Uniswap v2 or v3) or their own private inventories, and anyone can become a third-party filler for UniswapX transactions. Currently, UniswapX is only available on the Uniswap web application on the Ethereum mainnet, and will be expanded to other products such as Uniswap wallets in the future.
If users want to experience UniswapX, they only need to turn on the UniswapX switch in the settings button in the upper right corner of the Uniswap web application. After testing the product, BlockBeats found that currently only a few currencies such as DAI, UNI, 1INCH, and APE can achieve Gas-free transactions through UniswapX routing, while currencies such as AAVE, ARB, USDT, etc. are often unable to use UniswapX. routing. This is because when the user turns on the UniswapX routing, the Uniswap web application will automatically select the best transaction path for the user based on the optimal transaction fee. That is, when the transaction slippage of V2 or V3 is lower than UniswapX, Uniswap will automatically Jump to the first two transaction paths for users.
In addition, because the product is in its early stage, UniswapX is not highly discussed and used intensively in the market. Some users even stated on social media that they were still attacked by MEV after using UniswapX to trade, but the users reaction has not been further confirmed.
In any case, as an innovative product that has attracted much attention in the DeFi field, the arrival of UniswapX continues to promote the process of DEX catching up with CEX trading experience. There is no doubt that with the participation of more market participants and users, UniswapX will cover more Multi-token trading pairs. Can the arrival of UniswapX open up zero Gas and no MEV transactions in the crypto world? Well see.
