- Uniswap at present runs on the X Layer, the Ethereum Layer 2 community constructed by OKX.
- All swaps on the X Layer are freed from Uniswap Labs interface charges to start with.
- Uniswap stays one of many largest DEXs, with over $4 billion locked in whole.
Uniswap was launched on the X Layer, the Ethereum Layer 2 community developed by OKX. This introduction will allow token swapping and liquidity provision with zero interface charges. Assist is enabled throughout Uniswap net apps, wallets, and Buying and selling APIs.
Relating to X, Uniswap Labs famous that the event expands the decentralized change protocol and provides one other community to the rising record of supported blockchains. With this launch, customers will be capable to use Uniswap’s current purposes to change tokens straight on the X-layer, present liquidity, and discover decentralized finance instruments.
The X layer is an Ethereum suitable layer 2 constructed by the OKX crypto change. The community brings the OKX ecosystem on-chain whereas providing decrease transaction prices and sooner settlements in comparison with Ethereum’s most important community.
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Swap interface charges are zero
A core function of this launch is the removing of Uniswap Labs interface charges on the X Layer. In keeping with Uniswap Labs, customers can carry out swaps with zero interface charges via the Uniswap net app, Uniswap Pockets, and Uniswap Buying and selling API. Normal community fuel fees nonetheless apply, however there aren’t any interface fees, lowering the overall value of the transaction.
This pricing construction applies to all swaps carried out via Uniswap’s supported interfaces on the X layer. This transfer is according to Uniswap’s efforts to enhance accessibility and cut back friction for customers throughout a number of networks.
Entry to core markets and supply liquidity
At launch, Uniswap on X Layer will help core markets together with USDG and different main stablecoins. This offers merchants and liquidity suppliers quick entry to broadly used buying and selling pairs with out having to attend for liquidity to develop over time.
Liquidity suppliers can supply property via the Uniswap swimming pools web page by choosing X Layer from the community menu. This course of follows the identical steps utilized by different networks, together with choosing token pairs, choosing pricing tiers, and confirming transactions.
Offering liquidity stays a key aspect of Uniswap’s automated market maker mannequin, which depends on pooled property to facilitate buying and selling.
Buying and selling API help for builders
Past retail customers, Uniswap Labs has prolonged X-layer help to its buying and selling API. This offers builders and institutional customers direct entry to Uniswap protocol liquidity on the X layer with zero Uniswap Labs interface charges.
API integration will allow groups to construct purposes and buying and selling instruments that work together with Uniswap liquidity with out counting on consumer-facing apps. Uniswap Labs stated groups concerned with integrating X Layer through the Buying and selling API can start the onboarding course of instantly.
Uniswap market place
Information from DefiLlama exhibits that Uniswap stays one of many largest decentralized change protocols by whole worth locked. The protocol holds roughly $4.4 billion in whole worth locked throughout all supported networks. Ethereum holds the biggest share, with extra liquidity distributed throughout layer 2 and different chains.
Supply: Defilama
Uniswap has additionally dealt with vital buying and selling exercise over time. In keeping with DefiLlama information, cumulative buying and selling quantity exceeds $3 trillion, with tens of billions of {dollars} traded up to now 30 days. Annual charges generated by the protocol are estimated to exceed $515 million, reflecting continued use throughout the market.
What comes subsequent after X Layer?
Uniswap Labs additionally plans to deploy the EIP-7702 delegation contract on the X Layer. These agreements are supposed to help one-click transactions and simplify consumer interplay for purposes constructed on the community.
Associated: Uniswap neighborhood passes UNIfication proposal with robust help
The launch on X Layer follows Uniswap’s broader multi-chain enlargement, which already consists of Ethereum, Base, Arbitrum, and different networks. As competitors amongst Layer 2 networks continues to accentuate, Uniswap expands its attain to a different on-chain ecosystem by integrating with OKX’s Layer 2.
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