According to the Uniswap exchange’s community, Uniswap is poised to take full advantage of the Dencun upgrade on Ethereum. While details of how the platform intends to improve its service are still limited to the community’s February 15 post on X, $UNI has gone up by almost 10%.
At the same time, the leading P2E memecoin, $GFOX, has crossed over 95% in sales, with an imminent listing on DEXs on the horizon. Full details of Uniswap’s prospective improvement and GFOX’s progressive sales are discussed in the following sections.
The Launch of Uniswap’s V4
Uniswap was founded in 2018 as a decentralized cryptocurrency exchange on the Ethereum blockchain. It is currently one of the exchanges with the largest daily trading volumes and has thus far maintained its popularity for finance applications on Ethereum.
On February 15, 2024, the platform’s official community, Uniswap Foundation, announced via social media platform X that it was launching Uniswap v4. According to the post, Uniswap v4 is to be launched on the Dencun upgrade on Ethereum, slated for March 2024. The post further disclosed that the protocol’s version 4 is currently in the “Code Freeze” phase. The platform’s team is said to be focused on completing and testing core codes, gas optimization, and security protocols.
To boost the credibility and popularity of the V4, the foundation disclosed that the product will be audited by credible firms and shared its plans to host a community audit contest to ensure that Uniswap v4 is rigorously audited. The protocol is to be deployed to the testnet before its launch on the Ethereum mainnet. This is expected to happen before Q4 2024.
The team has revealed its plan to incorporate “hooks” into this new project. This incorporation is expected to allow custom logic that will potentially lower fees and offer users premium asset management options. While this is generally a welcome innovation, some market analysts have speculated that it is not as simple as it appears.
According to them, “hooks” are a departure from the order of traditional smart contracts; hence, they may affect on-chain limit orders, time-weighted average market making, the deposition of out-of-range liquidity into lending protocols, auto-compounding liquidity provider fees, and KYC. It may further stifle competition in the DeFi space, as Uniswap could potentially become a dominant, concentrated liquidity layer for all DeFi transactions.
Since the post about V4 on X, the platform’s token, $UNI, has experienced price fluctuations. After 24 hours, the coin’s price jumped to about 10%. This is the first major change in the coin’s price in 2024, despite the crypto market rally.
Some analysts have speculated that $UNI can reach $14 as it rides on the popularity and expectations of the V4. Based on previous market trends, $UNI may need more than the V4 to get a major price breakout. Only time will tell how far the coin can go. This is why more investors are eager to find more investment options like GFOX on DEX platforms.
$GFOX DEX Debut
$GFOX is Galaxy Fox’s native token, designed as a play-to-earn gaming platform with a limited supply of 5 billion tokens. The token has earned popularity for its multiple offers. With a potential for passive income from staking, playing unique games, and participating in the token’s presale, investors have purchased over 90% of $GFOX’s presale tokens within a few months.
With over $3.3 million raised in presale, analysts are confident that Galaxy Fox’s unique hybrid design and tokenomics model are the perfect path for the token. Hence, there is confidence that $GFOX will enjoy a major price jump when it is listed on a DEX.
The benefits of $GFOX on a DEX include the much-needed exposure to the growth of GameFi and memecoin. This will further strengthen the token’s burn to ensure a constantly reducing supply that increases its demand and price.
$GFOX’s listing on DEX will increase the benefit that its NFT token holders will enjoy. While the platform intends to create only 3000 NFT, a listing on DEX will further increase the demand for the NFTs and subsequently their value and price.
Having surpassed $2 million in December 2023 and $3 million in January 2024, analysts are confident that $GFOX is only weeks away from the $5 million sales mark. The token is at Stage 8 and is worth $0.002178 per token. With the next stage on the horizon and a token potential of 100x its price, $GFOX will skyrocket in price upon its launch on any DEX.
Final Thoughts
Uniswap is a key player in the DeFi niche, however, $UNI performance since 2021 has been underwhelming. With an over 50% price difference in its all time high and low, investors need more than the hype around the V4 to be invested in the coin.
On the other hand, $GFOX has shown great potential to outperform other tokens when it is listed on DEX. The token’s and the unique utility, progressive price chart, and passive income are sufficient reasons to invest in $GFOX early. Now is the best time to buy $GFOX!
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