Uniswap Labs Unveils Layer-2 Network, Unichain, Built on Optimism's Technology

Uniswap [UNI], the largest decentralized exchange on Ethereum [ETH], recently revealed plans to roll out its layer-2 network, Unichain

Uniswap [UNI], the leading decentralized exchange on Ethereum [ETH], recently announced plans to launch its layer-2 network, dubbed “Unichain,” which will be built upon Optimism's technology.

This initiative, unveiled by Uniswap Labs, is geared towards reducing transaction costs, boosting transaction speeds, and enhancing liquidity across multiple blockchains.

The Benefits of Unichain

Through Unichain, Uniswap endeavors to utilize Optimism's Superchain architecture to forge a more interconnected network of blockchain ecosystems.

This move will allow Uniswap to expand functionality and accessibility for decentralized trading.

To provide some context, the Superchain, which is built upon a unified open-source tech stack, connects ETH layer-2 networks, enabling seamless communication across platforms such as Worldcoin, Mantle, and Base.

Currently, in its testnet phase, Uniswap promises faster and cheaper transactions with improved interoperability across blockchain networks.

The initiative also aims to streamline the user experience for decentralized trading, as highlighted in the press release.

Exec Speaks…

Offering further insights on the launch, Hayden Adams, the CEO of Uniswap Labs, stated,

“Unichain will deliver the speed and cost savings already enabled by L2s, but with better access to liquidity across chains and more decentralization.”

Moreover, Uniswap Labs announced that Unichain will launch with 1-second block times. The platform aims to reduce this to under 250 milliseconds in the future.

Commenting on the block time, the press release stated,

“This will feel like a near-instant transaction experience for the user.”

Impact on UNI

Following Uniswap Labs' announcement, the platform's governance token, UNI, experienced a surge of 13%, reaching $8.13 at press time.

According to CoinGecko, UNI maintained its position above the $8 mark, which is likely to continue in the short term.

Uniswap's Future Endeavors

Uniswap Labs has set ambitious goals for Unichain, aiming to establish it as the primary hub for accessing DeFi across rollups.

Initially, Unichain will support Uniswap protocol versions V2 and V3, with a preview of V4 expected by the end of the year.

The team has also hinted at potential future expansions through the Unichain Validators Network (UVN) to enhance the security and transparency of its rollup sequencing.

As Adams aptly concluded,

“The internet of value can’t run on a single chain. Ethereum’s rollup-centric roadmap aims to scale by having many L2 chains that seamlessly interface with each other. We are excited about this vision and aim to accelerate it.”

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