Uniswap Won't Support PoW Forks After Ethereum Merger

Article Reading Time:
1 min.

Decentralized exchange Uniswap has announced that it fully supports Ethereum's transition to Proof-of-Stake (PoS) as a method of reducing the harmful impact on the environment and scaling the blockchain.

Uniswap said that after the Ethereum Merge, it does not intend to support its forks based on the Proof-of-Work (PoW) algorithm.The project team also warned users that when implementing The Merge update – the final step of Ethereum's transition to PoS – they do not need to take any action.Uniswap will continue to operate normally during the upgrade, but will notresponsibility for their partners.

"If any of the third-party infrastructure providers, such as a node provider,disabled, some users may experience short periods of unavailability of the app.uniswap.org app," the exchange warned.

In addition, the project team informed users about two new vulnerabilities related to Uniswap v3 oracles and the permissions mechanism.Using the first exploit, attackers can form a giant pool of validators to pump and reset the price.Using a second exploit, hackers can clone signatures in an forked chain to steal assets from users' wallets.

In the run-up to the Ethereum Merge, cryptocurrency companies are divided into two camps.Some are ready to support Ethereum's PoW forks, while others declareFor example, NFT trading platform OpenSea has announced that it does not intend to support forks on PoW, and the Binance exchange is ready to support both the main blockchain and its forks.