Uniswap Unveils ‘uni.eth’ Subdomains via Ethereum Name Service

Decentralized cryptocurrency exchange Uniswap has announced the ‘uni.eth’ subdomain, which uses the Ethereum Name Service (ENS) to convert complex ETH addresses to human-readable words. Via uni.eth, users can simplify elaborate hexadecimal addresses by creating shorter names that are easy to remember and share.

Interested users can register and claim their uni.eth subdomain using Uniswap’s mobile app. Each user can get a subdomain for free via an off-chain and gasless process. Uni.eth allows users to create an unlimited number of subdomains for as long as the original ENS domain is active. For instance, a user can create a “john.eth” ENS domain, and then create several others, like “info.john.eth”, or “schedule.john.eth”.

Uniswap is currently the largest decentralized exchange (DEX) on the Ethereum blockchain, with UNI as its native governance token. According to DefiLlama data, the platform’s current Total Value Locked (TVL) is $2.9 billion, with a 24-hour trading volume of $1.25 billion.

Last February, a ChatGPT ENS was sold for nearly $10,000 on popular non-fungible token (NFT) marketplace OpenSea. Data shows that ChatGPT.eth sold for 6 WETH, worth about $9,981.84 at the time. Generally, there is no clear advantage to owning a ChatGPT.eth domain apart from the perceived importance of the “ChatGPT” name.

Last year, digital identity platform Unstoppable Domains began offering users ENS domains as part of an expansion. This came after the platform discontinued its .coin domain after it realized that Emercoin, another blockchain company, was already offering domains with the same extension.

Uniswap Getting Set for Version 4

Last week, Uniswap announced plans for its long-awaited Version 4. In an X post, the Uniswap Foundation disclosed a tentative V4 launch set for sometime in the third quarter of 2024. The post revealed a roadmap, which itemizes three phases to deploying Version 4 on the mainnet. While the third is the actual launch, the first is Code Freeze, which is already in progress. The Code Freeze features testing, core code completion, security enhancements, and gas optimizations.

Upon completion of Phase 1, Uniswap will begin Phase 2, which is Auditing and Testnet. This phase will see comprehensive audits by several audit firms and a community audit contest. In addition, Uniswap will deploy Version 4 to its testnet for final code adjustments.

At the moment, there is no specific date for a mainnet launch. Uniswap is likely leaving this open, depending on the upcoming Ethereum Dencun upgrade expected on March 13. The excitement around the Dencun upgrade recently pushed ETH close to the $3,000 mark. According to current CoinMarketCap data, ETH is now trading at $2,933 after climbing 3% over the last 7 days.

Excitement around the price of ETH also comes from expectations of an approval for spot ETH exchange-traded funds (ETFs). While there is no specific indication that the United States Securities and Exchange Commission (SEC) will approve ETH ETFs, there is a deadline for May.