“Unichain will solve the problem of high transaction costs, low speed, and fragmented liquidity,” stated Uniswap Labs in their latest announcement. The company reported that the new layer-2 network, Unichain, will be built using Optimism technology.

As noted by Uniswap Labs’ CEO Hayden Adams, “After years of developing and scaling DeFi products, we see where blockchains need improvement and what is needed to continue advancing Ethereum’s roadmap.” He also emphasized that Unichain “will deliver the speed and cost savings already enabled by L2s, but with better access to liquidity across chains and more decentralization.”

The new network will operate based on the Optimism Superchain, enabling interaction between various Ethereum layer-2 networks, such as Worldcoin, Mantle, and Base. This, according to the company, will help create a more unified and user-friendly experience.

Uniswap’s financial performance remains strong—the platform earned $52.75 million in fees from April to September 2024 after increasing its user-interface swap fee to 0.25% on most trading pairs, according to DefiLlama data.