Uniswap launched the L2 Unichain.
Hayden Adams, the founder of Unichain explained to The Block how it will provide not only a proprietary DEX network but also help solve a part of the fragmentation problem in the Ethereum ecosystem.
I believe that different chains should have different applications. “Uniswap is the only company that can profit from owning their own chain,” he said.
New solution focuses on DeFi. Adams stated that Unichain, as with other L2 networks can be used in any scenario. However, certain technical characteristics make it better suited for decentralized finance.
Unichain was built in Optimism Superchain, a blockchain ecosystem based upon OP Stack. Uniswap Labs provides technical support, management and funding for Unichain Sequencer.
Unichain’s block processing will, according to the promises made, be less than 1 second at first. Developers plan to lower this number to 250 ms within a few weeks by introducing Rollup-Boost.
Adams said that the new update would bring “incredible” benefits to the liquidity providers, as well as other participants in the market. This will be achieved by “new arbitrage opportunities and the reduction of the MEV’s negative impacts”.
The developer stressed that the MEVs accumulate the larger the gaps you create, and the longer the time spent per block.
Unichain, since its launch in 2013, has included both a prioritization system, which is designed to prevent manipulations of order of execution and a challenge mechanism.
UNI will serve as a validation token in the Unichain Validation Network, while still maintaining its governance role. Uniswap Labs is not interested in transferring a portion of protocol profits to token holders, according to the developer.
Unichain will pay 65% to validators and stakers of its total revenue.
Adams stressed that the importance of Unichain’s centralised sequencer is reduced by these new innovations.
The developer said that sometimes people think of a solution in abstract terms, rather than translating it into reality.
According to him, users who do not trust this system can “wait until the transaction has been confirmed by the validator’s network.” He hopes that over time the sequencer’s need will “disappear.”
Adams thinks that this new network can become the unifying layer of many L2 Solutions:
We strive to be a liquidity center for the cross-chain, both at the level of the blockchain and the level of the user interface in our products.
LayerZero is one of Unichain’s first providers of interoperability. The developers claim that their protocol is able to connect participants of more than 120 different networks with the solution.
On January 31st, the Uniswap v4 Protocol Update with Support for 10 Blockchain Networks was released.
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