• Uniswap at present runs on the X Layer, the Ethereum Layer 2 community constructed by OKX.
• All swaps on the X Layer are freed from Uniswap Labs interface charges to start with.
• Uniswap stays one of many largest DEXs, with over $4 billion locked in complete.

Uniswap was launched on the X Layer, the Ethereum Layer 2 community developed by OKX. This introduction will allow token swapping and liquidity provision with zero interface charges. Assist is enabled throughout Uniswap net apps, wallets, and Buying and selling APIs.

Concerning X, Uniswap Labs famous that the event expands the decentralized alternate protocol and provides one other community to the rising checklist of supported blockchains. With this launch, customers will have the ability to use Uniswap’s present purposes to alternate tokens, present liquidity, and discover decentralized monetary instruments straight on prime of the X-layer.

The X layer is an Ethereum suitable layer 2 constructed by the OKX crypto alternate. The community brings the OKX ecosystem on-chain whereas providing decrease transaction prices and sooner settlements in comparison with Ethereum’s predominant community.

Associated: Uniswap burns 100 million UNI tokens on launch of paid upgrades

Swap interface charges are zero

A core characteristic of this launch is the elimination of Uniswap Labs interface charges on the X Layer. In line with Uniswap Labs, customers can carry out swaps with zero interface charges via the Uniswap Internet App, Uniswap Pockets, and Uniswap Buying and selling API. Commonplace community fuel fees nonetheless apply, however there are not any interface fees, lowering the entire price of the transaction.

This pricing construction applies to all swaps carried out via Uniswap’s supported interfaces on the X layer. This transfer is in step with Uniswap’s efforts to enhance accessibility and scale back friction for customers throughout a number of networks.

Entry to core markets and supply liquidity

At launch, Uniswap on X Layer will assist core markets together with USDG and different main stablecoins. This provides merchants and liquidity suppliers rapid entry to extensively used buying and selling pairs with out having to attend for liquidity to develop over time.

Liquidity suppliers can supply property via the Uniswap swimming pools web page by deciding on X Layer from the community menu. This course of follows the identical steps utilized by different networks, together with deciding on token pairs, deciding on pricing tiers, and confirming transactions.

Offering liquidity stays a key ingredient of Uniswap’s automated market maker mannequin, which depends on pooled property to facilitate buying and selling.

Buying and selling API assist for builders

Past retail customers, Uniswap Labs has prolonged X-layer assist to its buying and selling API. This provides builders and institutional customers direct entry to Uniswap protocol liquidity on the X layer with zero Uniswap Labs interface charges.

The API integration will allow groups to construct purposes and buying and selling instruments that work together with Uniswap liquidity with out counting on client apps. Uniswap Labs stated groups fascinated by integrating X Layer through the Buying and selling API can start the onboarding course of instantly.

Uniswap market place

Knowledge from DefiLlama exhibits that Uniswap stays one of many largest decentralized alternate protocols by complete worth locked. The protocol holds roughly $4.4 billion in complete worth locked throughout all supported networks. Ethereum holds the most important share, with further liquidity distributed throughout layer 2 and various chains.

Supply: Defilama

Uniswap has additionally dealt with important buying and selling exercise over time. In line with DefiLlama knowledge, cumulative buying and selling quantity exceeds $3 trillion, with tens of billions of {dollars} traded previously 30 days. Annual charges generated by the protocol are estimated to exceed $515 million, reflecting continued use throughout the market.

What comes subsequent after X Layer?

Uniswap Labs additionally plans to deploy the EIP-7702 delegation contract on the X Layer. These agreements are supposed to assist one-click transactions and simplify person interplay for purposes constructed on the community.

Associated: Uniswap neighborhood passes UNIfication proposal with sturdy assist

The launch on X Layer follows Uniswap’s broader multi-chain growth, which already consists of Ethereum, Base, Arbitrum, and different networks. As competitors amongst Layer 2 networks continues to accentuate, Uniswap expands its attain to a different on-chain ecosystem by integrating with OKX’s Layer 2.