Uniswap v3 Launches on Optimism
Just when Ethereum network fees are oscillating at yearly lows, Uniswap—the world’s largest DEX—is launching on Optimism—a Layer-2 solution.
The third iteration of Uniswap integrates exciting features like concentrated liquidity and other flexibility additions, naturally boosting liquidity.
Completing the Uniswap v3 package is the integration of Optimism, which network users highly anticipated.
⚡️ OΞ transactions confirm instantly — no more pending or stuck swaps! pic.twitter.com/zczFo73AgS
— Uniswap Labs 🦄 (@Uniswap) July 13, 2021
Layer-2 options are central to Ethereum’s scaling plans, forming a multiplicative effect on Eth 2.0 even when Proof-of-Stake will be live.
The launch of Uniswap v3 on Optimism—Optimistic Rollups– means lower transaction fees, more flexibility, and, interestingly, infinite scaling capability.
This way, Uniswap and DeFi users will be paying negligible fees while enjoying fast processing times since transactions will be bundled off-chain, relieving the base layer.
Building general purpose Optimistic Rollups is an extraordinary undertaking and a critical step for decentralized finance to gain mass adoption
Huge shoutout to the magicians at @optimismPBC for all their incredible work
— Hayden Adams 🦄 (@haydenzadams) July 13, 2021
According to Hayden Adams, the launch of Uniswap on Optimism is a big step forward towards bringing DeFi to the masses.
The DeFi Education Fund Liquidation Controversy
Meanwhile, controversy is simmering following the bulk liquidation of $10.2 million worth of UNI. The team explained that the token offloading was to fund the initiative since its core mandate is to lobby for the DeFi sector and support educational initiatives focusing on DeFi.
As noble as the primary cause is, custodians went against the agreed schedule by liquidating.
With the help of @GenesisTrading, we sold 500k UNI for ~$10.2M USDC in order to fund the efforts of the Defi Education Fund.
In the next 24 hours, we will be sending 500k UNI to Genesis and receiving ~$10.2M USDC in return.
— Defi Education Fund (@fund_defi) July 12, 2021
The 500 million UNI were supposed to be sold gradually within 4-5 years and not as a block as revealed.
Some critics further add that some Uniswap insiders took advantage of the fund drive to dump their tokens.
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