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Uniswap Labs, the developer of top-ranked decentralized crypto exchange Uniswap, has announced that it will be adding its own network, the Unichain network, in an effort to offer faster, cheaper transactions and more liquidity.
Uniswap Labs, the team behind decentralized crypto exchange Uniswap, announced that it has developed a new Layer-2 network, which will be launched on a testnet on Thursday. The new project is built using Optimism’s OP Stack technology. OP Stack is a blockchain infrastructure that has also been used by major companies like Coinbase and Sony to build Layer-2 networks.
The lead developer of Uniswap, the leader behind the world’s largest decentralized crypto exchange, is planning to launch Unichain, a Layer-2 network built on Ethereum, to make transactions faster and more affordable, while also increasing liquidity. According to the press release, this new network, called Unichain, will be launched on a private testnet on Thursday.
The technical development process of the project is being carried out by Uniswap Labs, using the OP Stack technology of the Ethereum Layer-2 team Optimism. Therefore, Unichain will be part of the Superchain formed by networks connected to Optimism. These networks include Base, the Layer-2 blockchain of the US-based crypto exchange Coinbase.
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“People want instant transactions,” said Hayden Adams, the inventor of Uniswap and CEO of Uniswap Labs, in an interview with CoinDesk, explaining the motivation behind this initiative.
This development is in line with a trend that has been widespread in the Ethereum scaling world since late 2023. Major crypto exchanges have started to launch their own Layer-2 networks. Coinbase created Base using OP Stack technology, while OKX launched X Layer with technology from the Polygon team.
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