How much does Uniswap V3 Gas cost?

On balance, Uniswap V3 costs 102% more to use than V2.

On May 5, the Uniswap team officially deployed the V3 version of the smart contract to the Ether mainnet. Previously, the Uniswap team said in a blog post in March that the gas cost of Uniswap V3 transactions would be cheaper than the V2 version. So is it really cheaper and how much does Uniswap V3 gas cost?

According to Reddit user “CPlusPlusDeveloper”, the actual results did not lower the gas cost for users.

CPlusPlusDeveloper tested three types of transactions, providing liquidity, and removing liquidity.

Transactions

How much does Uniswap V3 Gas cost?

At the same Gas Price (36.3 Gwei), a transaction on Uniswap V3 has a Gas Limit of 127,965 compared to 102,310 for Uniswap V2. In other words, the cost of a transaction on Uniswap V3 is 24% higher than on V2.

Providing Liquidity

When providing liquidity to Uniswap V3, the Gas Limit is 507,317, while V2 only requires 145,847. This means that adding liquidity to Uniswap V3 costs 249% more than V2.

How much does Uniswap V3 Gas cost?

Removing Liquidity

When removing liquidity from Uniswap V3, the Gas Limit is 208,902, while V2 only requires 151,108. This means that removing liquidity from Uniswap V3 costs 33% more than from V2.

How much does Uniswap V3 Gas cost?


In total, Uniswap V3 is 102% more expensive to use than V2. If a user completes a transaction, provides liquidity, and removes liquidity using Uniswap V3 at 100 Gwei, the total Gas cost could be $290, compared to $140 for the same operation on Uniswap V2.

It is estimated that the Gas cost of Uniswap-related exchanges is already 25% or more of the entire Ethernet network, and once users migrate from V2 to V3 on a large scale it may lead to congestion on the Ethernet network and soaring Gas costs.

The Uniswap team also said that it will deploy Uniswap V3 on Optimism, an Ethernet Layer 2 solution, as soon as possible. However, CPlusPlusDeveloper questioned why the Uniswap team did not deploy Uniswap V3 on Polygon (formerly MATIC), a mature Layer 2 solution. The reason, according to CPlusPlusDeveloper, may be that the VCs behind Uniswap and Optimism are the same people.

Of course, this is the first day of Uniswap V3’s official use, and it will take time to see if it will make a difference to the ethereum ecosystem and the DEX ecosystem.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/how-much-does-uniswap-v3-gas-cost/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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