Uniswap Launches Unichain Mainnet

Uniswap has launched its L2 Unichain. Project founder Hayden Adams explained to The Block that Unichain will not only provide a proprietary network for one of the largest DEXs, but will also partially solve the problem of fragmentation of the Ethereum ecosystem. ”In my opinion, many different applications should exist in different chains. If anyone can benefit from having their own chain, it`s Uniswap,” he noted. The new solution is primarily focused on DeFi projects. Adams noted that, like other L2 networks, Unichain can be used for any scenario, but there are certain technical features that make it more suitable for the decentralized finance segment. The Unichain network was created in Optimism`s Superchain ecosystem based on OP Stack. Uniswap Labs is responsible for the technical support and management of the Unichain Sequencer transaction sequencer, and the Uniswap Foundation is responsible for funding the development. According to promises, initially, the block processing time in Unichain will be ~1 second. Within a few months, developers plan to reduce this figure to 250 ms by introducing the Rollup-Boost mechanism. According to Adams, the update will bring ”incredible benefits” to liquidity providers and other market participants through ”new forms of arbitrage and limiting the negative impact of MEV”. ”The bigger the gap you have, the more time per block, the more MEV accumulates,” the developer emphasized. Since its launch, Unichain has also included a system for prioritizing operations, aimed against manipulation of the order of execution, and a mechanism for challenging problematic transactions. The UNI token will be used for validation in the Unichain Validation Network while maintaining its role in the governance system. The developer added that the issue of transferring part of the protocol`s profit to token holders remains outside the focus of Uniswap Labs. Validators and stakers will receive 65% of Unichain`s total revenue. Adams emphasized that these innovations reduce the significance of the centralized Unichain sequencer. ”Sometimes people have a far-fetched concept: `the sequencer is centralized, we need to decentralize it`, but they don`t translate it into a real solution, but think about it abstractly,” the developer noted. In his opinion, if a user does not want to trust such a system, ”you can wait until the transaction is confirmed by the validator network.” Over time, the need for a sequencer will ”disappear,” he hopes. Adams believes that the new network could become a unifying layer for many L2 solutions: ”Both at the blockchain level and at the interface level in our products, we strive to become a cross-chain liquidity hub”. LayerZero was one of the first interoperability providers in Unichain. According to the developers, their protocol connects participants from more than 120 networks to the solution. As a reminder, on January 31, the Uniswap v4 protocol update with support for 10 blockchain networks was released.

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Source: Coinpaper