Uniswap (UNI), the decentralized exchange, expands its operations onto a layer-2 base with backing from Coinbase
Prominent decentralized exchange Uniswap has now been launched on Base, the recently introduced Ethereum layer-2 platform developed by the renowned U.S. cryptocurrency giant Coinbase.
Base leverages the blockchain-scaling solution Optimism (OP) and made its testnet debut in February of this year.
Uniswap Labs has revealed the integration of Base support on X, allowing users to conveniently perform swaps and contribute liquidity directly on the Base chain via the Uniswap web app.
Addressing the anticipated synergy between a decentralized exchange and Base, the announcement states, “It’s no secret that Base could benefit from a DEX. We’re thrilled to declare that the Uniswap web app now interfaces seamlessly with Base.”
Uniswap maintains its position as the world’s largest DEX, boasting remarkable liquidity with a trading volume exceeding $453 million in the past 24 hours. The platform offers access to over 1,700 tradeable cryptocurrencies, as per CoinGecko’s data.
This development marks the eighth blockchain network to be supported by Uniswap.
Coinbase’s engineering team has meticulously crafted Base to ensure compatibility with Ethereum, Ethereum’s layer-2 solutions such as Optimism, and alternative layer-1 networks like Solana (SOL).
As an incentive for early developers of Base, an exclusive non-fungible token (NFT) named the “Genesis Builder NFT” is being issued. To acquire this NFT, developers must deploy a decentralized application (DApp) on Base and successfully fulfill an on-chain application process.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.