Uniswap Labs has launched Unichain, its Ethereum layer-2 (L2) blockchain, marking a significant step into the L2 market for the platform. The new chain promises one-second block times, enhanced swap liquidity, and functionalities like earning interest or borrowing against collateral. The mainnet launch follows extensive tests on its testnet and aims to generate additional revenue for Uniswap Labs and UNI token holders by reallocating fees away from Ethereum validators. The total value locked (TVL) in Ethereum's DeFi ecosystem is currently estimated at $56.6 billion, dwarfed by competitors like Solana and Bitcoin. Unichain enters a competitive landscape, contending with established players such as Arbitrum and Polygon, and is part of Optimism’s Superchain initiative, which groups multiple L2 chains to enhance Ethereum’s scalability. Moreover, Uniswap Labs is collaborating on EIP-7683 alongside Across to facilitate smoother cross-chain transactions and swaps, with a network of around 50 projects expected to support the new standard.

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