Unifi’s uTrade V2 Lauch

Published on: 29.05.2021

Unifi Protocol is upgrading uTrade V1 to uTrade Version 2 that offers enhanced support and exciting new opportunities for #DeFi developers.

As Unifi Protocol’s uTrade V2 enters the final phases of testing we are extremely excited to share some details on the phased rollout and exciting new features.

uTrade V2 will rollout in phases across the various Unifi blockchains. Each version of uTrade V2 will be tailored to the strengths of that particular blockchain. All blockchains will ultimately receive updates to the user interfaces, while other chains will showcase advanced features that may only be available on selected chains. Join Unifi’s social media channels to keep up to date on the deployment of uTrade V2 across the Unifi ecosystem. This will ensure you can be among the first to take advantage of new features as they come online!

🔹Where will the first phase of uTrade V2 launch?

The first blockchain to upgrade will be Binance Smart Chain.

uTrade on BSC will be the first place to interact with the V2 user interface. BSC will also likely be the first blockchain to see additional developer projects built onto Unifi Protocol, as some are already under construction.

uTrade V2 will include new smart contracts for all trading pairs. As a security measure, Unifi does not have the ability to remove liquidity provider funds from the smart contracts. This means there is no ability for Unifi to move liquidity from uTrade V1 contracts into uTrade V2 contracts automatically. In order to take advantage of V2’s enhancements, liquidity providers will need to withdraw their liquidity from the V1 contracts and deposit that liquidity into the new V2 contracts.

🔹Information still to come about uTrade V2

uTrade V2 was created with developers in mind. If you plan to create the next Compound, Aave, ACS, Beefy — or the projects that will replace them, Unifi Protocol’s uTrade V2 is built for you!

uTrade V2 will have a transparent and versatile fee structure. This will allow for more predictable costs to traders and project (token) creators, as well as increased rewards to liquidity providers. Unifi will become a great place to launch tokens and provide rewards worth tweeting about!

Unifi’s developers have been working extremely hard on this launch and we are grateful to our community for their patience. More on uTrade V2’s rollout will be coming out in the next few weeks. Things are really starting to heat up at Unifi, with some incredibly exciting partnerships and announcements coming up.