The post Uniswap Labs introduces Unichain L2 native network appeared on BitcoinEthereumNews.com.

Uniswap Labs introduced its native L2 network, Unichain. The most active DEX, with presence on 23 other networks, finally launched its own L2 though Optimism.  Uniswap Labs launched a new L2, which will be part of the Optimism Superchain. The Uniswap DEX, which already runs on 23 separate chains, will finally have its native network. Uniswap will build a protocol similar to Base, which is also part of the Optimism Superchain.  Optimism was recently singled out by Vitalik Buterin as one of the most interoperable chains. For that reason, Unichain will use its technology to achieve cross-chain swaps. At first, the compatibility will be available between Superchain members, most prominently Optimism and Base. Uniswap Labs also works toward a cross-chain trading proposal so users from any chain can access Uniswap using the best route. The Unichain testnet launched on October 10, while the public mainnet may launch as early as November, or by the end of the year. The project will run on a MIT license and will be modular and applicable to other projects.  Unichain to cut costs by 95%  Unichain will launch long after the UNI native token. To serve DEX-speed transactions, Unichain will produce four sub-blocks per second and one full block per second. Unichain will allow inter-operability with other chains. One of the reasons for the launch is the fragmented liquidity across different networks, which encapsulates Uniswap versions with vastly different listings and activity levels.  Despite the expansion to other L2 networks, the leading DEX still relies mostly on Ethereum and levies significant fees for each swap. Moving to a native L2 would lower costs by as much as 95%, even with payments to use L1 for added security. Uniswap moves into the L2 space just as costs for blobs and data have fallen again.  Initially,…

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Filed under: News - @ October 10, 2024 5:21 pm