Ethereum

Uniswap

Base

Optimism

Uniswap Labs introduced its native L2 network, Unichain. The most active DEX, with presence on 23 other networks, finally launched its own L2 though Optimism.&nbsp;
Uniswap Labs launched a new L2, which will be part of the Optimism Superchain. The Uniswap DEX, which already runs on 23 separate chains, will finally have its native network. Uniswap will build a protocol similar to Base, which is also part of the Optimism Superchain.&nbsp;
Optimism was recently singled out by Vitalik Buterin as one of the most interoperable chains. For that reason, Unichain will use its technology to achieve cross-chain swaps. At first, the compatibility will be available between Superchain members, most prominently Optimism and Base. Uniswap Labs also works toward a cross-chain trading <a href="https://eips.ethereum.org/EIPS/eip-7683" rel="noopener noreferrer nofollow" target="_blank">proposal</a> so users from any chain can access Uniswap using the best route.
The Unichain testnet launched on October 10, while the public mainnet may launch as early as November, or by the end of the year. The project will run on a MIT license and will be modular and applicable to other projects.&nbsp;
<h3 id="span-style-font-weight-400-unichain-to-cut-costs-by-95-span">Unichain to cut costs by 95%&nbsp;</h3>
Unichain will launch long after the UNI native token. To serve DEX-speed transactions, Unichain will produce four sub-blocks per second and one full block per second. Unichain will allow inter-operability with other chains. One of the reasons for the launch is the fragmented liquidity across different networks, which encapsulates Uniswap versions with vastly different listings and activity levels.&nbsp;
Despite the expansion to other L2 networks, the leading DEX still relies mostly on Ethereum and levies significant fees for each swap. Moving to a native L2 would lower costs by as much as 95%, even with payments to use L1 for added security. Uniswap moves into the L2 space just as costs for blobs and data have fallen again.&nbsp;
Initially, transactions on Unichain will use a coordinator. Over time, the chain will introduce block validators to add another layer of decentralized consensus and finality. Along with faster blocks, Uniswap aims to speed up DeFi. The other problem to solve is the prevalence of MEV bots, which increase the price of trading, but also allow for sandwich attacks, private pool attacks and other exploits.&nbsp;
The new chain will also use a native block builder developed in partnership with FlashBots. The initial work of the chain will use a Trusted Execution Environment, which will order transactions and prevent failures, as well as attacks. The project will sacrifice some decentralization in exchange for more transparency and more fair block-building.
Unichain aims to become tailored to the needs of Uniswap, after gathering data and experience with DEX activity. The new chain will launch into an already saturated L2 market, where existing chains achieve a part of the scalability goals. Hayden Adams, CEO of Uniswap Labs, aims for a multi-chain DeFi world, where liquidity will be unified again with cross-chain swaps.&nbsp;
<h3 id="span-style-font-weight-400-unichain-to-enter-l2-economy-span">Unichain to enter L2 economy</h3>
Unichain will join the Optimism L2 economy and will have to find its own model of using Ethereum as a backup. Most chains manage to turn a profit after paying rent to L2, even if Ethereum gas fees rise in the short term. L2 are also enjoying still low blob prices, as the blob market still has high spare capacity.
The Optimism <a href="https://dune.com/abdelhaks/superchain-analytics" rel="noopener noreferrer nofollow" target="_blank">superchain</a> sees most of its activity on Base, but also Optimism OP, Blast, and Mantle. Unichain will be cross-compatible with Base and Optimism OP, which hold more than $4.6B in stablecoin liquidity.&nbsp;
Uniswap will bring between 700k and 900K active daily users with the potential to use the new chain. The DEX has also added tools for easy onboarding, as well as direct swaps through its interface.&nbsp;
Following the news of the new native chain, UNI tokens rallied ahead of the rest of the crypto market. UNI expanded by 13.78% overnight, up to a one-month high of 8.89. The token price is also expecting news of the V4 launch, predicted for some time in Q4 or early 2025.&nbsp;
Uniswap popularity and usage remains high as the meme token hype is not slowing down. The exchange already taps into several ecosystems and manages varied listings on its V2 and V3 liquidity pools. The DEX locks in <a href="https://defillama.com/protocol/uniswap#information" rel="noopener noreferrer nofollow" target="_blank">$4.55B</a> in liquidity with gradual expansion in the last few months.

Uniswap Labs introduces Unichain L2 native network

Table of Contents

Cryptopolitan_News

Other articles published on Oct 10, 2024

Constellation Network, the DoD-vetted blockchain for Big Data, unveils Panasonic partnership deta...

Baby Neiro | The most adorable Shiba Inu in the crypto world | Live on pancakeswap

Bitcoin Price Dips Following Market Developments

Breaking: Ripple Launches Crypto Custody for Banks and Fintechs

Insiders Reveal: Bitcoin Could Surge Past $67K Sooner Than You Think!

These Key Price Indicators Point to ‘Uptober’ Start Date for Kaspa (KAS) and Bitcoin (BTC)

Join our free newsletter for daily crypto updates!