Unichain Nears $12B in Trading Volume as Users Flock to Uniswap’s Layer 2

As excessive fuel charges push customers towards various platforms, Uniswap’s not too long ago launched Layer 2 community, Unichain, goals to boost consumer expertise and preserve its aggressive edge within the decentralized alternate house.

In truth, the community is already nearing a $12 billion milestone in complete buying and selling quantity simply three months after it hit mainnet.

Unichain’s Fast Adoption

In response to latest figures, Uniswap v4, launched in January, has seen a big share of its exercise shift to Unichain prior to now month. In truth, Unichain processed 76% of Uniswap v4’s complete quantity on Could ninth, leaving Ethereum with simply 15.5% and even smaller shares for Arbitrum with 4.7% and Base with 2.7%. The most recent determine factors to the community’s rising significance in Uniswap’s broader scaling and consumer adoption roadmap.

Uniswap formally launched Unichain in February this 12 months. Constructed on the Optimism Superchain, it’s designed to supply sooner and cheaper DeFi actions. It additionally goals to ship one-second block occasions and as much as 95% decrease fuel charges than Ethereum and helps swapping, bridging, liquidity provision, token launches, lending, and cross-chain buying and selling utilizing the ERC-7683 commonplace.

The Layer 2 community noticed a surge in exercise starting mid-April, coinciding with the launch of a $45 million liquidity incentive program. Information compiled by DeFiLlama showed that its TVL peaked at $800 million by the second week of Could earlier than falling to the present stage of $627 million. In the meantime, L2Beat reported that Unichain now ranks because the fourth-largest Layer 2 community by complete worth locked.

Moreover, Unichain has recorded a dramatic surge in consumer exercise over the previous 30 days, in line with new findings from Nansen. The community noticed a 3,071% enhance in energetic addresses because it reached 5.9 million – a greater than 30-fold rise and the most important share acquire amongst all EVM chains tracked. Because of this, it even managed to outpace main gamers like Base and BNB Chain on this metric.

Uniswap Fights Again with Unichain

Uniswap has confronted stiff competition from alternate options like Raydium on Solana, as excessive Ethereum fuel prices diverted customers throughout the latest meme coin increase. Now, with Ethereum Layer 2s gaining traction and the launch of Unichain, the main DEX is working to draw customers again by providing considerably decrease transaction charges and improved buying and selling speeds.

Apart from its strategic concentrate on the brand new providing, Uniswap not too long ago hit $3 trillion in combination all-time quantity, thereby changing into the primary decentralized alternate to hit the determine.