- Uniswap is set to launch Unichain its own Ethereum L2 solution
- It is developed in a collaboration between the Uniswap Foundation, Optimism, and Flashbots
- Unichain will run on Optimism Superchain and will be compatible with Worldcoin, Mantle, and Base.
- This is aimed at reducing transaction costs, increasing efficiency and decentralization
Top decentralized exchange Uniswap announced that it plans to launch Unichain as a new Ethereum Layer-2 solution to speed up transactions, reduce its costs, and increase DeFi liquidity.
Details of Unichain Announcement by Uniswap
Uniswap shared its plans at X on Thursday, creating a big reason for all DEX fans to rejoice.
Uniswap Foundation, Optimism, and Flashbots have been working in collaboration to introduce Unichain, which will be built on Optimism and should provide interoperability between different networks like Worldcoin, Mantle, and Base thanks to Optimism Superchain.
One of the main features will be the use of a trusted execution environment (TEE) to ensure transparency in block-building, safeguard transactions from tampering, and bring block-building times down to 200-250 milliseconds.
This makes the project open source, for which Uniswap Labs also provides Unichain Builder Toolkit, which allows open, secure and synchronous development of the whole infrastructure, to make it more decentralized and efficient.
It should also solve the problem of liquidity fragmentation, where tokens are distributed across multiple layer 2 networks creating additional complexity and costs.
Uniswap Labs CEO Hayden Adams said:
“After years of building and scaling DeFi products, we’ve seen where blockchains need improvement and what’s required to continue advancing Ethereum’s roadmap. Unichain will deliver the speed and cost savings already enabled by L2s, but with better access to liquidity across chains and more decentralization.”
Uniswap Labs also noted that upon release, Unichain will introduce cross-chain swapping into the Uniswap Interface and Uniswap Wallet.
Conclusions
A very important development, especially in the context of having one of the most important DEXs in DeFi behind it.
The fact that this development is completely open, provides all possibilities for developers to participate and allows for the integration of even competing projects, generally aimed at connecting the disparate DeFi space – deservedly inspires excitement for many.
We’ll be watching closely for further announcements, stay tuned.
