Iphone Dev Team just released ultrasn0w Version 1.0-1 that works for, iPhone4 baseband 01.59 and 3G/3GS basebands 04.26.08, 05.11.07, 05.12.01 and 05.13.04.(If ultrasn0w doesn’t show when you search Cydia, add the repo: repo666.ultrasn0w.com)
Step 1:
Press Cydia Installer from your SpringBoard to launch.

Step 2:
Press to select the Manage tab at the bottom of the screen.

Step 3:
Press to select the large Sources button

Step 4:
If the ultrasn0w repo is not present press the Edit button at the top right of the screen. Otherwise, skip to Step Nine.

Step 5
Press the Add button at the top left of the screen.

Step 6
Enter http://repo666.ultrasn0w.com/ as the source url and press the Add Source button.

Step 7
Once the source has been added press the large Return to Cydia button.

Step 8
Press the Done button at the top right of the screen.

Step 9
Press to select repo666.ultrasn0w.com from the list of user entered sources.

Step 10
Press to select ultrasn0w from the list of packages

Step 11
Press the Install button at the top right of the screen.

Step 12
Press the Confirm button at the top right of the screen.

Step 13
After installation completes successfully press the large Return to Cydia button.

Step 14
Restart your phone and it is done enjoy your unlock..
[Via Iclarified]
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