DeFi Adoption: Over 3M Crypto Addresses have Reportedly Swapped on Multiple Chains with Uniswap

The future is multichain, according to an update from Uniswap Labs.

Over 3M addresses have swapped on multiple chains with Uniswap, the team at Uniswap Labs reveals.

As covered, the Uniswap Protocol claims to be the largest decentralized trading and automated market-making protocol on Ethereum (ETH).

The Uniswap Labs team says they have been a major contributor to the Uniswap Protocol and now focus on “building a suite of products to support the Uniswap ecosystem.”

Their team claims to be one of the most impactful in crypto.

They are based in SoHo, New York City, and offer “the option to be partially or fully remote depending on the position.”

Recently, it was reported that Uniswap went live on Blast.

Blast is an L2 that provides native yield for ETH and the USDB stablecoin.

Like other L2s, Blast provides swappers and LPs “with lower gas costs and faster swaps (compared to Ethereum mainnet).”

Blast support will soon be live “on the Uniswap mobile app for swapping on-the-go.”

In another key update, it was revealed that Uniswap Labs is collaborating with Across Protocol to propose a new ERC standard for cross-chain intents.

Today’s intent-based systems “are fragmented, each with their own set of fillers and no unified cross-chain standard.”

How this new standard works:

  • Users sign a cross-chain order
  • User funds are escrowed in a settlement contract
  • Fillers compete to fill the order on the destination
  • The winning filler executes the action and funds are released

If requests conform to the same standard, fillers can use the same infrastructure “across a variety of protocols, making them more efficient.”

With this approach, there are “no more siloed networks or centralized filler risks.”

Establishing a standard for intents-based systems improves the UX for apps, fillers, and users:

  • Applications route intents to a wider network
  • Fillers have a lower entry barrier
  • Users get faster fills with lower gas

Uniswap will be adopting this standard when they go cross-chain with UniswapX.

As covered, Hayden Adams, founder of Uniswap, confirmed on April 10, 2024 that Uniswap Labs received a Wells notice from the US Securities and Exchange Commission (SEC).

Hayden says he is not surprised but just “annoyed, disappointed, and ready to fight.”

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