Uniswap (UNI) Integrates ERC-7683 to Enhance Cross-Chain Transactions
- WBOYOriginal
- 2024-07-17 22:46:53739browse
The biggest Decentralized Exchange (DEX) by trading volume Uniswap (UNI) is innovating to reduce difficulties caused by chain fragmentation on its platform.
Uniswap (UNI) is integrating a new standard, ERC-7683, to enhance cross-chain transactions on its platform. The move aims to improve user experience and expand Uniswap's market reach.
The ERC-7683 proposal, created in partnership with Across Protocol, establishes a common framework for cross-chain actions. It facilitates communication between blockchain networks and streamlines the process of transactions.
According to technology experts, the standard enables cross-chain intents systems to work together and share infrastructure. These systems, such as filler networks and order dissemination services, can enhance the end-user experience by fostering competition in completing user intents.
The primary goal of the ERC-7683 proposal is to complement cross-chain intents, facilitating efficient interactions between different chains. Uniswap's integration of ERC-7683 will ultimately contribute to resolving chain fragmentation issues and promoting cross-chain interoperability.
In a recent development, Bitget Wallet introduced cross-chain support for TON tokens, allowing users to effortlessly swap TON tokens with mainnet tokens across 14 chains, including Ethereum, Solana, Base, and within the wallet platform.
Market Reaction: UNI Token Performance
Following the announcement of the ERC-7683 proposal, Uniswap's native token, UNI, experienced a positive market reaction with a significant increase in trading volume.
Over the last 24 hours, the trading volume surged by 70.23%, reaching $217,833,533. Simultaneously, the market capitalization also rose by 2.9%.
Although the price initially rose to $8.43, at the time of writing, it had slightly decreased to $8.09, indicating a 3.85% drop from the peak.
As reported earlier by Crypto News Flash, the platform has recently witnessed a substantial increase in the number of swappers. According to Dune Analytics data, Uniswap recorded over 4 million swappers using Layer 2 (L2) products in June alone. This figure was nearly double its previous all-time high.
Market observers attribute Uniswap's success to the network's continuous efforts to enhance its capabilities and facilitate a vast number of transactions. Additionally, Uniswap provides liquidity for numerous trading pairs, further contributing to its popularity among users.
In the coming days, users will be eagerly anticipating how the integration of ERC-7683 will ultimately enhance the overall experience on the Uniswap platform.
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