Yesterday #Uniswap released the vision introduction of V4, briefly introducing and disclosing the functions to be updated. Although I personally do not hold #Uni , in line with the principle of keeping up with the times (free time), I will make a functional summary that you can understand.
Because I read some Chinese information and found that most of them were edited and translated directly. I felt like I read something, but also like I didn't receive anything.
In fact, Uniswap V4 has only one core: increasing efficiency and reducing costs;
1. Efficiency enhancement - Hooksâïž
This function is literally translated as "hook", so I'll just call it that for now.
I would summarize the main functions as: modularization of pool customization. That is, to package functions one by one and give them to developers, who only need to customize them according to the needs of their own project pools.
Under the condition of modular combination, the operating space of the pool becomes larger, that is, the creation of the pool will be more in line with the functions required by the pool itself (of course, this operating space must be within the scope that can be provided). It is basically equivalent to giving you a module library.
2. Cost reduction - Singletonđ°
This is a design that changes the underlying architecture of Unisawp. Previously, there were multiple contracts for multiple tokens, but now there is one contract for multiple tokens.
The main function is to change the original liquidity pool and package and aggregate them. Here is an example that is easier to understand:
If you want to take a bus, you need to go to a fixed stop to take a specific bus. Now you can go directly to the bus stop and get on any bus you want without having to look for a stop.
Based on this logic, it will be easier to choose where you want to go or which car you want to take.
The above example may be a bit general, but at least it makes one thing clear: the core design of Singleton is to aggregate the pool and reduce the interaction cost.
-further
In addition, this design needs to be combined with the EIP-1153 protocol, which will further reduce the cost of a single transaction. EIP-1153 will be deployed after the Cancun upgrade, so the actual deployment of V4 will have to be at least after Cancun.
About EIP-1153: Simply understand it as a temporary expansion function of the block to accommodate transactions, so as to reduce Gas
However, the use of this protocol is not competitive. Uni can use it, and other Swaps can also use it~
The focus of this vision is basically on these two items, which can be summarized as: personalization and aggregation.
3. Donât brag about V4đ
Finally, I would like to express some personal opinions: Donât brag about V4
Every time Dex has something good, it is compared with Cex. Can they be compared? The two are not on the same track. Although there is overlap in functions, there is an insurmountable gap in demand.
Why? Because users are lazy.
No matter how fancy the functions are, they cannot solve the needs beyond transactions, such as monetization, understanding thresholds, and "after-sales service"...
These are pain points that are difficult for Dex to solve, but they are also the services that Cex can provide, including pool interaction and token trading. Dex is capable of the former, and Cex's experience of the latter is obviously better.
Why? Because of screening.
Central exchanges have their own listing screening mechanism, which is not available in Dex. Why is screening important? This is because security and platform trust are endorsed by third-party centralization.
