Uniswap’s cross-chain bridge feature is now live, allowing users to perform seamless cross-chain transactions directly from the Uniswap Interface and Wallet. This new functionality was highly requested by the platform’s user base, as it simplifies the previously complicated process of transferring assets between different blockchains.
Before the launch of this feature, users had to rely on external services and go through different interfaces, facing long transaction times to bridge assets. However, with Uniswap’s in-app solution powered by the Across Protocol, users can now complete cross-chain transactions without these additional steps. The Across Protocol operates through a decentralized network of liquidity pools and relayers, settling transactions in seconds, providing a more reliable and secure alternative to traditional bridges.
At launch, Uniswap’s in-app bridging will support nine blockchain networks, including Ethereum, Base, Arbitrum, Polygon, OP Mainnet, Zora, Blast, World Chain, and ZKsync. Users can bridge native assets like ETH on Ethereum and ARB on Arbitrum, as well as stablecoins like USDC.
In addition to the cross-chain bridge, Uniswap Labs has also announced the launch of its application-specific layer-2 blockchain network called Unichain, currently in testnet. Unichain aims to provide faster and cheaper transactions while enhancing interoperability among various blockchain networks. It is part of Optimism’s Superchain, which utilizes Optimism’s technology for layer-2 scaling solutions. Unichain will initially feature one-second block times, with plans to reduce it to under 250 milliseconds for near-instant transactions. Traders on Unichain will have liquidity access across other layer-2 networks within Optimism’s Superchain.
Following the announcement of Unichain, Uniswap’s governance token, UNI, experienced increased market activity. The UNI price rose by 15% on the same day and reached a trading volume of $583.2 million, marking a 418% increase. Uniswap’s network activity also surged, with daily transactions increasing by 1,582% from 40 to 673. Active addresses rose by 587%, indicating growing adoption within the Uniswap ecosystem and increased demand for UNI tokens.
However, the excitement surrounding Unichain has also attracted scammers. A fraudulent website falsely claimed to be the official site for the new network, aiming to steal users’ cryptocurrency. MetaMask warned users about this fraudulent website, emphasizing the need for caution during the launch of Uniswap.
