- Uniswap has launched its personal layer-2 community referred to as Unichain.
- The OP Stack-powered L2 is in testnet and is designed to enhance transaction pace, decrease prices and enhance liquidity.
- UNI token’s worth surged to $8.14, its highest stage in over two months
Uniswap, a number one decentralized alternate platform, has introduced a significant growth for its community and ecosystem. The information helped Uniswap’s native token UNI to soar double digits on Thursday.
On Oct. 10, the Uniswap crew revealed that the DEX platform was trying to launch its personal layer-2 community on Ethereum. The L2, dubbed Unichain, is earmarked for DeFi.
Per the Uniswap Labs announcement, its an answer to transaction pace and prices for the alternate’s customers. Additionally key to the launch is the query of liquidity.
Introducing @unichain — a brand new L2 designed for DeFi ✨
Quick blocks (250ms), cross-chain interoperability, and a decentralized validator community
Constructed to be the house for liquidity throughout chains pic.twitter.com/lqfJh6Ltio
— Uniswap Labs 🦄 (@Uniswap) October 10, 2024
Unichain is powered by Optimism’s OP stack and gives 1 second block occasions. Sub-block occasions of 200-250 milliseconds can be a part of the event.
“Any such pace isn’t simply nice for UX, it additionally improves market effectivity and lowers worth misplaced to MEV,” Uniswap Labs wrote on X.
Uniswap has partnered with OP Labs for native interoperability, with this enabling implementation of cross-chain messaging and cross-chain liquidity. The platforms plan to bolster the ecosystem’s connectivity with cross-chain swapping throughout the Uniswap interface and pockets.
In keeping with particulars in in the present day’s announcement, the Unichain testnet is reside, whereas the mainnet will go reside later in This fall, 2024.
UNI worth soars 11%
Native Uniswap DEX token UNI is among the many high gainers within the crypto market. This follows a worth explosion for the cryptocurrency after the information emerged.
With most altcoins down on the day or struggling for upside, UNI spiked greater than 11% to hit highs final seen in July 2024. The token’s surge to the multi-month excessive of $8.14 noticed Uniswap rank as the highest performing coin amongst high 100 cash by market cap.
UNI traded round $8.05 on the time of writing, nonetheless up by greater than 9%.
