How much does Uniswap V3 Gas cost?

On May 5th, the Uniswap team officially deployed the V3 version of the smart contract to the Ethereum mainnet. Previously, the Uniswap team stated in a blog post in March that the gas charges for Uniswap V3 transactions would be cheaper than for the V2 version. So is it really cheaper? How much does Uniswap V3 Gas cost?

According to Reddit user "CPlusPlusDeveloper" actual testing, the actual effect did not reduce the user's gas bill.

CplusPlusDeveloper tests three types of trading, providing liquidity, and removing liquidity.

trading

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

Provision of liquidity

While the Gas Limit is 507,317 to provide liquidity for Uniswap V3, V2 only needs 145,847. This means that adding liquidity to Uniswap V3 costs 249% more than V2.

Deleting liquidity

With Uniswap V3 removing liquidity, the Gas Limit is 208,902, while V2 only needs 151,108. This means that the cost of removing liquidity in Uniswap V3 is 33% higher than that in V2.

Overall, Uniswap V3 costs 102% more to use than V2. If a user uses Uniswap V3 to complete a transaction, provide liquidity, and remove liquidity operations at 100 GWEI, then the total Gas bill could reach $290, compared to $140 for the same operation on Uniswap V2.

It has been estimated that the Gas costs of Uniswap-related exchanges are already 25% or more of the total Ethereum network, and if a mass migration of users from V2 to V3 results in congestion on the Ethereum network, Gas costs will spike.

The Uniswap team has also stated that Uniswap V3 will be deployed on Ethereum Layer 2 Solution Optimism as soon as possible. However, CplusPlusDeveloper questioned why the Uniswap team had not deployed Uniswap V3 on the mature Layer 2 solution Polygon (formerly Matic). According to CplusPlusDeveloper, the reason may be that the VCs behind Uniswap and Optimism are the same people.

Of course, this is the first day of Uniswap V3, and it will take time to tell if it will make a difference to the Ethereum ecosystem and the Dex ecosystem.

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