Uniswap v3 Launches on Optimistic Ethereum Mainnet

by in DeFi News

Uniswap v3 defi

DeFi protocol Uniswap announced another move of the upgrade, the launch of Uniswap v3 on the L2 protocol Optimistic Ethereum (OE).

Related: Uniswap announced the launch date of the V3 of the protocol

Through the Alpha interval, there will be a limit of 0.6 transactions in a second. The protocol must translate to transaction power along with L1. Operations on OE verify immediately. In opposition to L1, there won't be delayed or stuck exchanges, the UniSwap team informs in a blog post published on July 13.

However, UniSwap says there are some points at the alpha release that users need to take into account. Among them the possible suspension, withdrawal time, and supported assets.

Withdrawing from OE to Layer 1 will last 7 days.

Uniswap v3 is able to support any ERC20 token on OE, but at start, their number will be restricted. Particularly, the protocol will support Ether, Tether (USDT), Wrapped Bitcoin (WBTC), DAI, and Synthetix Network Token (SNX). The number of supported cryptocurrencies will grow eventually.

The aim of the update is to build scaling that ensures low cost and high-speed trading.

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Uniswap’s upgrade consists of several phases. Note that the L1 Ethereum mainnet release was on May 5.