diff --git a/.github/actions/setup/action.yml b/.github/actions/setup/action.yml
index c769821b72..c370e347d6 100644
--- a/.github/actions/setup/action.yml
+++ b/.github/actions/setup/action.yml
@@ -10,11 +10,12 @@ runs:
       with:
         node-version: 14
         registry-url: https://registry.npmjs.org
+        cache: 'yarn'
 
-    # node_modules/.cache is intentionally omitted, as this is used for build tool caches.
     - uses: actions/cache@v3
       id: install-cache
       with:
+        # node_modules/.cache is intentionally omitted, as this is used for build tool caches.
         path: |
           node_modules
           !node_modules/.cache
@@ -22,3 +23,55 @@ runs:
     - if: steps.install-cache.outputs.cache-hit != 'true'
       run: yarn install --frozen-lockfile --ignore-scripts
       shell: bash
+
+    # Validators compile quickly, so caching can be omitted.
+    - run: yarn ajv
+      shell: bash
+
+    # Contracts are compiled from source. If source hasn't changed, the contracts do not need to be re-compiled.
+    - uses: actions/cache@v3
+      id: contracts-cache
+      with:
+        path: |
+          src/abis/types
+          src/types/v3
+        key: ${{ runner.os }}-contracts-${{ hashFiles('src/abis/**/*.json', 'node_modules/@uniswap/**/artifacts/contracts/**/*.json') }}
+    - if: steps.contracts-cache.outputs.cache-hit != 'true'
+      run: yarn contracts
+      shell: bash
+
+    # GraphQL is generated from schema. The schema is always fetched, but if unchanged, graphql does not need to be re-generated.
+    - run: yarn graphql:fetch
+      shell: bash
+    - uses: actions/cache@v3
+      id: graphql-cache
+      with:
+        path: src/graphql/**/__generated__
+        key: ${{ runner.os }}-graphql-${{ hashFiles('src/graphql/**/schema.graphql') }}
+    - if: steps.graphql-cache.outputs.cache-hit != 'true'
+      run: yarn graphql:generate
+      shell: bash
+
+    # Messages are extracted from source.
+    # A record of source file content hashes is maintained in node_modules/.cache/lingui by a custom extractor.
+    # Messages are always extracted, but extraction may rely on the custom extractor's loaded cache.
+    - uses: actions/cache@v3
+      id: i18n-extract-cache
+      with:
+        path: |
+          src/locales/en-US.po
+          node_modules/.cache
+        key: ${{ runner.os }}-i18n-extract-${{ github.run_id }}
+        restore-keys: ${{ runner.os }}-i18n-extract-
+    - run: yarn i18n:extract
+      shell: bash
+
+    # Translations are compiled from messages. If messages haven't changed, the translations do not need to be re-compiled.
+    - uses: actions/cache@v3
+      id: i18n-compile-cache
+      with:
+        path: src/locales/*.js
+        key: ${{ runner.os }}-i18n-compile-${{ hashFiles('src/locales/*.po') }}
+    - if: steps.i18n-compile-cache.outputs.cache-hit !='true'
+      run: yarn i18n:compile
+      shell: bash
diff --git a/.github/workflows/release.yaml b/.github/workflows/release.yaml
index 0a9739f433..97f17f34ce 100644
--- a/.github/workflows/release.yaml
+++ b/.github/workflows/release.yaml
@@ -47,7 +47,6 @@ jobs:
     steps:
       - uses: actions/checkout@v3
       - uses: ./.github/actions/setup
-      - run: yarn prepare
       - run: yarn build
 
       - name: Pin to IPFS
diff --git a/.github/workflows/test.yml b/.github/workflows/test.yml
index f2035a3d5f..9cb1177818 100644
--- a/.github/workflows/test.yml
+++ b/.github/workflows/test.yml
@@ -2,6 +2,7 @@ name: Test
 
 # Many build steps have their own caches, so each job has its own cache to improve subsequent build times.
 # Build tools are configured to cache cache to node_modules/.cache, so this is cached independently of node_modules.
+# Caches are saved every run (by keying on github.run_id), and the most recent available cache is loaded.
 # See https://jongleberry.medium.com/speed-up-your-ci-and-dx-with-node-modules-cache-ac8df82b7bb0.
 
 on:
@@ -37,7 +38,6 @@ jobs:
           path: node_modules/.cache
           key: ${{ runner.os }}-tsc-${{ hashFiles('**/yarn.lock') }}-${{ github.run_id }}
           restore-keys: ${{ runner.os }}-tsc-${{ hashFiles('**/yarn.lock') }}-
-      - run: yarn prepare
       - run: yarn typecheck
 
   deps-tests:
@@ -58,7 +58,6 @@ jobs:
           path: node_modules/.cache
           key: ${{ runner.os }}-jest-${{ hashFiles('**/yarn.lock') }}-${{ github.run_id }}
           restore-keys: ${{ runner.os }}-jest-${{ hashFiles('**/yarn.lock') }}-
-      - run: yarn prepare
       - run: yarn test --coverage --maxWorkers=100%
       - uses: codecov/codecov-action@v3
         with:
@@ -78,7 +77,6 @@ jobs:
           path: node_modules/.cache
           key: ${{ runner.os }}-build-e2e-${{ hashFiles('**/yarn.lock') }}-${{ github.run_id }}
           restore-keys: ${{ runner.os }}-build-e2e-${{ hashFiles('**/yarn.lock') }}-
-      - run: yarn prepare
       - run: yarn build:e2e
         env:
           NODE_OPTIONS: "--max_old_space_size=4096"
diff --git a/apollo-codegen.ts b/graphql.data.codegen.config.ts
similarity index 100%
rename from apollo-codegen.ts
rename to graphql.data.codegen.config.ts
diff --git a/graphql.config.js b/graphql.data.config.js
similarity index 100%
rename from graphql.config.js
rename to graphql.data.config.js
diff --git a/apollo-codegen_thegraph.ts b/graphql.thegraph.codegen.config.ts
similarity index 100%
rename from apollo-codegen_thegraph.ts
rename to graphql.thegraph.codegen.config.ts
diff --git a/graphql_thegraph.config.js b/graphql.thegraph.config.js
similarity index 81%
rename from graphql_thegraph.config.js
rename to graphql.thegraph.config.js
index 29ce5dbe9f..ae185b98eb 100644
--- a/graphql_thegraph.config.js
+++ b/graphql.thegraph.config.js
@@ -1,6 +1,6 @@
 /* eslint-env node */
 
-const defaultConfig = require('./graphql.config')
+const defaultConfig = require('./graphql.data.config')
 
 module.exports = {
   src: defaultConfig.src,
diff --git a/lingui.config.ts b/lingui.config.ts
index 5d4fad743e..56bf09ff29 100644
--- a/lingui.config.ts
+++ b/lingui.config.ts
@@ -1,8 +1,63 @@
+import { default as babelExtractor } from '@lingui/cli/api/extractors/babel'
+import { createHash } from 'crypto'
+import { mkdirSync, readFileSync, writeFileSync } from 'fs'
+import * as path from 'path'
+import * as pkgUp from 'pkg-up' // pkg-up is used by lingui, and is used here to match lingui's own extractors
+
+/**
+ * A custom caching extractor for CI.
+ * Falls back to the babelExtractor in a non-CI (ie local) environment.
+ * Caches a file's latest extracted content's hash, and skips re-extracting if it is already present in the cache.
+ * In CI, re-extracting files takes over one minute, so this is a significant savings.
+ */
+const cachingExtractor: typeof babelExtractor = {
+  match(filename: string) {
+    return babelExtractor.match(filename)
+  },
+  extract(filename: string, code: string, ...options: unknown[]) {
+    if (!process.env.CI) return babelExtractor.extract(filename, code, ...options)
+
+    // This runs from node_modules/@lingui/conf, so we need to back out to the root.
+    const pkg = pkgUp.sync()
+    if (!pkg) throw new Error('No root found')
+    const root = path.dirname(pkg)
+
+    const filePath = path.join(root, filename)
+    const file = readFileSync(filePath)
+    const hash = createHash('sha256').update(file).digest('hex')
+
+    const cacheRoot = path.join(root, 'node_modules/.cache/lingui')
+    mkdirSync(cacheRoot, { recursive: true })
+    const cachePath = path.join(cacheRoot, filename.replace(/\//g, '-'))
+
+    // Only read from the cache if we're not performing a "clean" run, as a clean run must re-extract from all
+    // files to ensure that obsolete messages are removed.
+    if (!process.argv.includes('--clean')) {
+      try {
+        const cache = readFileSync(cachePath, 'utf8')
+        if (cache === hash) return
+      } catch (e) {
+        // It should not be considered an error if there is no cache file.
+      }
+    }
+    writeFileSync(cachePath, hash)
+
+    return babelExtractor.extract(filename, code, ...options)
+  },
+}
+
 const linguiConfig = {
   catalogs: [
     {
       path: '<rootDir>/src/locales/{locale}',
-      include: ['<rootDir>/src'],
+      include: ['<rootDir>/src/**/*.ts', '<rootDir>/src/**/*.tsx'],
+      exclude: [
+        '<rootDir>/src/**/*.d.ts',
+        '<rootDir>/src/**/*.test.*',
+        '<rootDir>/src/types/v3/**',
+        '<rootDir>/src/abis/types/**',
+        '<rootDir>/src/graphql/**/__generated__/**',
+      ],
     },
   ],
   compileNamespace: 'cjs',
@@ -53,6 +108,7 @@ const linguiConfig = {
   runtimeConfigModule: ['@lingui/core', 'i18n'],
   sourceLocale: 'en-US',
   pseudoLocale: 'pseudo',
+  extractors: [cachingExtractor],
 }
 
 export default linguiConfig
diff --git a/package.json b/package.json
index 7cb6e81ac9..fb3d3fa2d1 100644
--- a/package.json
+++ b/package.json
@@ -5,19 +5,20 @@
   "homepage": ".",
   "license": "GPL-3.0-or-later",
   "scripts": {
+    "ajv": "node scripts/compile-ajv-validators.js",
     "contracts:compile:abi": "typechain --target ethers-v5 --out-dir src/abis/types \"./src/abis/**/*.json\"",
     "contracts:compile:v3": "typechain --target ethers-v5 --out-dir src/types/v3 \"./node_modules/@uniswap/**/artifacts/contracts/**/*[!dbg].json\"",
-    "contracts:compile": "yarn contracts:compile:abi && yarn contracts:compile:v3",
+    "contracts": "yarn contracts:compile:abi && yarn contracts:compile:v3",
     "graphql:fetch": "node scripts/fetch-schema.js",
-    "graphql:generate:data": "graphql-codegen --config apollo-codegen.ts",
-    "graphql:generate:thegraph": "graphql-codegen --config apollo-codegen_thegraph.ts",
+    "graphql:generate:data": "graphql-codegen --config graphql.data.codegen.config.ts",
+    "graphql:generate:thegraph": "graphql-codegen --config graphql.thegraph.codegen.config.ts",
     "graphql:generate": "yarn graphql:generate:data && yarn graphql:generate:thegraph",
-    "prei18n:extract": "node scripts/prei18n-extract.js",
+    "graphql": "yarn graphql:fetch && yarn graphql:generate",
     "i18n:extract": "lingui extract --locale en-US",
-    "i18n:compile": "yarn i18n:extract && lingui compile",
-    "i18n:pseudo": "lingui extract --locale pseudo && lingui compile",
-    "ajv:compile": "node scripts/compile-ajv-validators.js",
-    "prepare": "yarn contracts:compile && yarn graphql:fetch && yarn graphql:generate && yarn i18n:compile && yarn ajv:compile",
+    "i18n:pseudo": "lingui extract --locale pseudo",
+    "i18n:compile": "lingui compile",
+    "i18n": "yarn i18n:extract --clean && yarn i18n:compile",
+    "prepare": "yarn ajv && yarn contracts && yarn graphql && yarn i18n",
     "start": "craco start",
     "build": "craco build",
     "build:e2e": "REACT_APP_CSP_ALLOW_UNSAFE_EVAL=true REACT_APP_ADD_COVERAGE_INSTRUMENTATION=true craco build",
diff --git a/scripts/fetch-schema.js b/scripts/fetch-schema.js
index 963fbb2bd5..e85c338e6a 100644
--- a/scripts/fetch-schema.js
+++ b/scripts/fetch-schema.js
@@ -4,8 +4,8 @@ require('dotenv').config({ path: '.env.production' })
 const child_process = require('child_process')
 const fs = require('fs/promises')
 const { promisify } = require('util')
-const dataConfig = require('../graphql.config')
-const thegraphConfig = require('../graphql_thegraph.config')
+const dataConfig = require('../graphql.data.config')
+const thegraphConfig = require('../graphql.thegraph.config')
 
 const exec = promisify(child_process.exec)
 
diff --git a/scripts/prei18n-extract.js b/scripts/prei18n-extract.js
deleted file mode 100644
index d27248ba53..0000000000
--- a/scripts/prei18n-extract.js
+++ /dev/null
@@ -1,10 +0,0 @@
-/* eslint-env node */
-
-const { exec } = require('child_process')
-const isWindows = process.platform === 'win32' || /^(msys|cygwin)$/.test(process.env.OSTYPE)
-
-if (isWindows) {
-  exec(`type nul > src/locales/en-US.po`)
-} else {
-  exec(`touch src/locales/en-US.po`)
-}