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- Uniswap has launched a blockchain scaling network called Unichain
- Unichain is powered by Optimism
- The chain promises a higher decentralization and easy access to liquidity for users
Uniswap Labs has launched a layer 2 network that offers decentralization and easy access to liquidity for its users. The network is part of the Optimism Superchain and intends “to be the home for DeFi and liquidity across chains.” The scaling layer currently operates as a testnet with the mainnet scheduled to be launched later this year, an indication that Uniswap Labs is ready to offer DeFi-specific solutions.
Transactions “Will Feel Instant”
According to the Uniswap creator, Unichain will help “accelerate Ethereum’s scaling roadmap,” adding that the network will focus on the needs of both DeFi users and developers.
Unichain is designed to accelerate Ethereum’s scaling roadmap, prioritizing the needs of DeFi users and protocolshttps://t.co/Jqy1sYQBK8
— Uniswap Labs 🦄 (@Uniswap) October 10, 2024
Unichain developers revealed that the layer two will have a superior throughput and transactions “will feel instant,” adding that the high speeds will help improve market efficiency and lower value lost to MEV (maximum extractable value).
Unichain will be so fast, transactions will feel instant
It launches with 1 second block times, with 200-250 millisecond sub-block times coming soon
This type of speed isn’t just great for UX, it also improves market efficiency and lowers value lost to MEV
— Uniswap Labs 🦄 (@Uniswap) October 10, 2024
The team claims that doing business on the scaling layer is more than 90% cheaper than transacting on the main Ethereum blockchain. According to the Unichain team, the layer two network and its features will be open source for “other chains to adopt.”
OKX, Coinbase, and Blur Also Operate Scaling Layers
Unichain also promises to provide seamless multi-chain swapping to allow users to move value across chains, improve user experience, and prevent liquidity fragmentation. The Uniswap Foundation will provide grants and support developers building on the testnet.
The launch comes barely a month after Ethereum co-founder Vitalik Buterin noted that layer 2s are overly centralized and asked them to be decentralized for him to recognize them. It also comes when centralized cryptocurrency exchanges like OKX and Conbase have launched Ethereum scaling networks like X Layer and Base. Blur, an NFT marketplace, has also unveiled a layer 2 protocol called Blast.
With Uniswap launching Unichain, it’s to be seen whether the network will comprehensively address all shortcomings in the DeFi world.
