Uniswap Launches $2.35M Security Prize Pool for v4 Upgrade as Most UNI Coins Held at a Loss

Uniswap unveils a $2.35M prize pool to audit its v4 codebase, aiming for top security while 77% of UNI tokens remain held at a loss, signaling a potential price reversal.

Uniswap, a leading decentralized exchange, has announced the launch of a $2.35 million prize pool aimed at incentivizing researchers to audit its upcoming v4 codebase. This initiative, described as the largest security competition in DeFi history, is designed to ensure that v4 becomes the most thoroughly audited code ever deployed on-chain. Supported by Uniswap Labs and the security firm Cantina, the competition will run from September 4 to 30, offering significant rewards for identifying potential vulnerabilities.

The v4 upgrade introduces several innovative features, including customizable hooks for on-chain limit orders, a singleton contract that reduces gas fees by consolidating all liquidity pools, and flash accounting for executing multiple actions within a single transaction. Additionally, v4 will natively support ETH, eliminating the need for wrapped ETH (WETH).

Despite these advancements, Uniswap has faced criticism for releasing v4 under the Business Source License 1.1, which restricts commercial use of its codebase for up to four years. This decision has sparked debate within the community, as it contrasts with the open-source principles traditionally associated with web3 development.

According to IntoTheBlock’s analysis, 77% of UNI tokens are currently held at a loss, with the most significant accumulation zone between $9 and $15.7. This suggests that UNI’s price may have bottomed, potentially setting the stage for a reversal. However, UNI remains in a downtrend on the 4-hour chart, with the 200-day moving average acting as a resistance level since July.

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