UNI surged by 13% after the launch, and continued to maintain its value above $8.
- Uniswap’s Unichain aims to cut transaction costs, boost speed, and enhance cross-chain liquidity UNI token surged by 13% after Uniswap announced the layer-2 Unichain launch.
Uniswap [UNI], the largest decentralized exchange on Ethereum [ETH], recently revealed plans to roll out its layer-2 network, Unichain, built on Optimism’s technology.
This move, announced by Uniswap Labs, aims to reduce transaction costs, enhance transaction speed, and improve liquidity across multiple blockchains.
Source: Uniswap Labs/X
Benefits of Unichain
With Unichain, Uniswap aims to leverage Optimism’s Superchain architecture to create a more interconnected network of blockchain ecosystems.
This move would enable Uniswap to expand functionality and accessibility for decentralized trading.
For context, the Superchain, built on a unified open-source tech stack, connects ETH layer-2 networks. This will facilitate seamless communication across platforms like Worldcoin, Mantle, and Base.
Currently, in its testnet phase, Uniswap promises faster and cheaper transactions with improved interoperability across blockchain networks.
The initiative aims to streamline the user experience for decentralized trading, as highlighted in the press release.
Exec weighs in…
Providing further insights on the launch, Hayden Adams, Uniswap Labs’ CEO noted,
“Unichain will deliver the speed and cost savings already enabled by L2s, but with better access to liquidity across chains and more decentralization.”
Additionally, Uniswap Labs mentioned that Unichain will launch with 1-second block times. The platform aims to reduce this to under 250 milliseconds in the future.
Remarking on the block time, the press release noted,
“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, surged by 13%, climbing to $8.13 at press time.
According to CoinGecko, UNI maintained its position above the $8 mark, and is likely to do so in the short-term.
Road ahead for Uniswap
Uniswap Labs has ambitious plans for Unichain, aiming to establish it as the premier hub for accessing DeFi across rollups.
Initially, Unichain will support Uniswap protocol versions V2 and V3. A preview of V4 is anticipated by year-end.
The team has signaled possible future expansions through the Unichain Validators Network (UVN) to strengthen the security and transparency of its rollup sequencing.
Adams concluded it best when he said,
“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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