Decentralized Exchange Uniswap (UNI) Now Operating on Coinbase-Backed Layer-2 Base
Leading decentralized exchange Uniswap has been deployed on Base, the new Ethereum layer-2 built by US crypto giant Coinbase. Base is powered by the blockchain-scaling solution Optimism (OP), and its testnet first launched in February of this year.
Main Breakdowns:
- Uniswap users can now execute swaps or add liquidity directly on the Base chain from the Uniswap web app.
- Uniswap is the biggest DEX in the world, with over $453 million in volume in the last 24 hours and over 1,700 tradable crypto assets.
- Base is the eighth chain that Uniswap supports and is compatible with Ethereum, Optimism, and other layer-1s like Solana.
- Base is issuing a non-fungible token (NFT) called the “Genesis Builder NFT” to reward early developers.
- Coinbase has no plans to issue a new network token.
Uniswap’s integration with Base expands its reach and provides users with more options for executing swaps and adding liquidity. The partnership further solidifies Uniswap’s position as the leading decentralized exchange in the crypto space. With its compatibility with multiple layer-2 solutions and alternative layer-1s, Base offers users scalability and flexibility. The issuance of the Genesis Builder NFT incentivizes developers to build decentralized applications on Base, fostering growth and innovation within the ecosystem. Base’s deployment on Uniswap demonstrates the continued expansion and evolution of the decentralized finance landscape.
Hot Take:
The integration of Uniswap with Base, backed by Coinbase, showcases the growing importance of layer-2 solutions in addressing scalability issues on the Ethereum network. By providing users with seamless access to the Base chain, Uniswap enhances its user experience and strengthens its position as the leading decentralized exchange. This partnership also highlights Coinbase’s commitment to supporting innovative blockchain projects and contributing to the development of the decentralized finance ecosystem. Overall, the integration of Uniswap and Base is a significant step forward in advancing the adoption and usability of decentralized exchanges in the crypto industry.
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