Uniswap, a decentralized exchange company, has launched a new initiative in the Layer-2 solutions landscape. “accelerate Ethereum’s scaling roadmap.”
UniswapUnichain has been unveiled by, which is one of the biggest decentralized exchanges in terms of trading volume. Ethereum-based layer-2 Designed to improve transaction speeds, lower costs and increase liquidity in decentralized financial networks.
In a news release published by crypto.news, Uniswap Labs said that their product is powered by Optimism Superchain and aims to overcome the scalability problems that hindered Ethereum’s adoption.
“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.”
Hayden Adams, Uniswap Labs CEO
Adams noted that Unichain can deliver speed and savings in cost already available from other layer-2 competitors. “but with better access to liquidity across chains and more decentralization.”
Uniswap will launch Unichain’s mainnet in late 2024
Unichain’s technical description states that it will feature block times of one second, but aims to improve this to 200-250 microseconds. However, a timeframe for the enhancement is not yet known.
Unichain will also focus on interoperability across layers 2 networks, including Optimism, and provide liquidity to these layer 2 networks. Also, it plans to implement ERC-7683 for better transaction support across blockchains.
Uniswap Labs is yet to decide whether a network token will exist once the mainnet launches. The price of the (UNIIt grew by 11 percent, to reach $8.05.
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Source: crypto.news
