TL;DR

Uniswap Labs has launched a new permissionless bridging functionality, available on nine blockchain networks, to facilitate asset transfers.
The update, powered by the Across protocol, allows users to move assets between Ethereum, Base, Arbitrum, Polygon, OP Mainnet, Zora, Blast, World Chain, and ZKsync.
This bridging stands out for operating through a decentralized network, ensuring fast and secure transactions, although it currently only supports native assets and stablecoins.

Uniswap Labs has announced the launch of a new permissionless bridging functionality through its interface and wallet, available on nine blockchain networks.

This update is implemented via the Across protocol, allowing users to transfer assets between Ethereum, Base, Arbitrum, Polygon, OP Mainnet, Zora, Blast, World Chain, and ZKsync. The goal of this functionality is to simplify the process of moving assets between different chains, a task that previously required the use of external bridges and dealing with unfamiliar interfaces, often resulting in long wait times.

Bridging should be as simple as swapping

…and now it is

Powered by @AcrossProtocol pic.twitter.com/QjewWR3PAE

— Uniswap Labs (@Uniswap) October 23, 2024

Improving User Experience

With this new bridging capability, Uniswap aims to enhance user experience, thus responding to one of the most requested features in a poll conducted on platform X, where bridging was highlighted as the most demanded function. The company intends to provide smoother access to transactions across multiple chains, adapting to the growing need for interoperability in the DeFi market.

Uniswap’s bridging infrastructure, powered by Across, distinguishes itself from other similar solutions by being a permissionless bridge that operates through a decentralized network of liquidity pools and relayers. This approach not only improves transaction speed, which settles in seconds, but also provides greater security for users by reducing the uncertainty associated with different bridging services. For the moment, the bridging only supports native assets and stablecoins, such as ETH and ARB, which limits the range of assets that can be transferred.

Uniswap Aims to Regain Its Market Position

The implementation of this functionality comes after Uniswap has experienced a steady decline in its market share of decentralized exchanges. The company aims not only to revitalize its user base but also to establish a new standard for how digital assets are transferred between chains.

With over six million users already swapping across multiple chains, Uniswap seeks to facilitate smooth cross-chain swaps and recover what it has lost recently

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Filed under: News - @ October 23, 2024 5:28 pm