Uniswap Labs recently launched UniChain, an Ethereum Layer2 network based on OP Stack, and launched a testnet. This move has sparked widespread discussion in the crypto community, and even led some people to believe that Uniswap is "defecting" from Ethereum. But is this really the case?
UniChain: Uniswap’s Defection Route, or Enhancement Strategy?
UniChain was launched to solve the pain points in the DeFi field, such as high costs and inefficient cross-chain liquidity. Uniswap is not abandoning Ethereum, but further optimizing the user experience by customizing its own Layer2 network. Vitalik expressed his opposition to the UniChain plan as early as 2022, believing that Uniswap's copy on each rollup makes more sense than creating a new chain. But today, the development of Layer2 technology is very different.
Those FUDers who always criticize Ethereum are back, and even see UniChain as Uniswap’s “defection” from Ethereum. But the fact is that Hayden Adams, the founder of Uniswap, has already said that the expansion of Layer2 is beneficial to the Ethereum ecosystem. The Ethereum mainnet is still Uniswap’s main battlefield, but UniChain gives Uniswap more tools to meet future challenges.
Why does Uniswap have to be UniChain?
First, Uniswap faces multi-chain competition. Local DEX brands are competing for the market on each Layer2. If Uniswap does not evolve, it will be easily marginalized. Through OP Stack, Uniswap can more easily join the Optimism Superchain ecosystem, break the liquidity fragmentation problem between Layer2, and provide a seamless cross-chain Swap experience.
Secondly, Uniswap is no longer just a DApp, but the cornerstone of the entire DeFi ecosystem. Developing its own Layer2 network will allow Uniswap to further expand its influence, while meeting community needs and activating UNI token empowerment. As the scale and demand of DApps grow, upward breakthroughs and innovative expansion are the general trend.
Most importantly, Uniswap Labs has the freedom to decide its development path. In the crypto space, neither the underlying infrastructure nor the developers should be locked into any platform. Multi-chain interoperability is the future, and Uniswap’s freedom of choice will not only not weaken Ethereum, but will allow both to grow together.
Impact on Ethereum: Bad or Good?
Those FUDers love to talk about Ethereum’s “death countdown”, but they always take the wrong stance. When the gas fee is high, they shout bad news; when Layer2 appears, they say Ethereum will fail; now that Layer2 has successfully expanded, they say Layer2 has sucked away Ethereum’s revenue. The truth is that the launch of UniChain will not threaten the Ethereum mainnet, but will accelerate the adoption of DeFi, solve cross-chain liquidity issues, and improve user experience.
Uniswap has generated the highest revenue on Ethereum, and Gas fees are not the only indicator to measure the value of Ethereum. The real value of Ethereum lies in its innovation, openness, and scalability, not high transaction costs.
summary
UniChain is not Uniswap's "betrayal" of Ethereum, but to enhance the competitiveness of its own products while continuing to promote the development of the Ethereum ecosystem. Those who are pessimistic do not understand the essential changes in the crypto market. Ethereum and Layer2 are not only coexisting, but also paving the way for large-scale adoption. Uniswap's UniChain is just a piece of the puzzle on Ethereum's road to continuous innovation. The future of the crypto community will be even more exciting!
