Uniswap Integrated into Coinbase’s Base Network
Uniswap, the largest decentralized exchange on Ethereum, has been integrated into Coinbase’s Base network. This integration allows users to swap tokens on the Layer 2 network. Since the integration went live, Uniswap on Base has recorded over 11,700 transactions and $3.65 million in trading volume. This makes it the fourth-largest DEX on Base, following RocketSwap, BaseSwap, and SushiSwap.
Base Network Opening to the Public
The Base network, operating on the OP software stack as a Layer 2 blockchain, is set to open to the public on Thursday. With the upcoming launch, over $100 million in assets have already been transferred to the network by developers and users. The opening event is called “Onchain Summer.”
Incidents on Base
Base, initially launched for developers, has seen many users transferring their assets to the network in anticipation of its official release. While some users have used unofficial bridges to trade emerging memecoins, others have utilized the bridge contract. However, one of Base’s first decentralized exchanges, LeetSwap, experienced a security hack on July 31.
Established Exchanges on Base
Uniswap and SushiSwap, both well-established exchanges, are now available on Base. Despite the security incident with LeetSwap, the integration of Uniswap into Coinbase’s Base network offers users more options for trading tokens on the Layer 2 network.
Hot Take
The integration of Uniswap into Coinbase’s Base network is a significant development for the crypto community. It provides users with more opportunities to trade tokens on the Layer 2 network and expands the options available on Base. However, the security incident with LeetSwap highlights the importance of cautiousness when using decentralized exchanges. It is crucial for users to do thorough research and exercise caution when participating in the crypto market.
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