- Uniswap has launched its personal layer 2 community known as Unichain.
- OP Stack-powered L2 is within the testnet and is designed to enhance transaction velocity, scale back prices and improve liquidity.
- The value of the UNI token rose to $8.14, the very best stage in additional than two months
Uniswap, a number one decentralized trade platform, has introduced main developments for its community and ecosystem. The information helped Uniswap's native UNI token climb double digits on Thursday.
On October 10, the Uniswap staff revealed that the DEX platform is about to launch its personal layer 2 community on Ethereum. Dubbed Unichain, L2 is designed for DeFi.
In response to the Uniswap Labs announcement, it is a answer for transaction velocity and prices for trade customers. The difficulty of liquidity can be key to the launch.
Introducing @unichain — new L2 designed for DeFi ✨
Quick blocks (250ms), cross-chain interoperability and a decentralized community of validators
Constructed to be the house of cross-chain liquidity pic.twitter.com/lqfJh6Ltio
— Uniswap Labs 🦄 (@Uniswap) October 10, 2024
Unichain is powered by Optimism's OP stack and presents 1 second blocking. Partial block occasions of 200-250 milliseconds are additionally a part of the event.
“Such a velocity isn’t solely nice for UX, but in addition improves market effectivity and reduces lack of MEV worth,” Uniswap Labs wrote on X.
Uniswap has partnered with OP Labs for native interoperability, enabling the implementation of cross-chain messaging and cross-chain liquidity. The platforms plan to strengthen ecosystem connectivity by exchanging between chains by means of the Uniswap interface and pockets.
In response to particulars in at present's announcement, Unichain's testnet is energetic, whereas the mainnet will launch later in This autumn 2024.
UNI worth rises by 11%
The native Uniswap DEX token UNI is among the many greatest gainers within the crypto market. This follows an explosion within the worth of the cryptocurrency after the information broke.
As most altcoins fell or struggled through the day, UNI rose greater than 11% to hit a excessive final seen in July 2024. The token's rise to a multi-month excessive of $8.14 made Uniswap the highest performing coin among the many high 100 cash. by market capitalization.
UNI was buying and selling round $8.05 on the time of writing, nonetheless up greater than 9%.
