Unichain, Uniswap V4, and the impact on ETH and other projects

Here’s a brief reflection: As most of you probably know, Uniswap is set to operate #Unichain (its own Layer 2 built on Superchain with finality around 250ms).

I can imagine that Uniswap will want to shift a significant portion of its activities to this new chain.

They are already moving in this direction, and in collaboration with ACX, they have created the ERC-7683 standard, which will be supported by Unichain: https://t.co/2Va7DDXFCB (essentially a settlement contract where you lock your assets, and it waits for "processing" on the other side. Once completed, you receive your token as part of the cross-chain swap).

Who benefits from this? 🐂

Naturally, @Uniswap ( $UNI ), but also @Optimism ( $OP ) (since Unichain is built on OP's Superchain) and $ACX (due to the cooperation and partnership around ERC-7683). Additionally, part of the fees will flow to Optimism because Uniswap is leveraging their technology.

For whom it's bearish? 🐻

Ethereum ( $ETH ). Uniswap is one of the most significant contributors to ETH fees (around $450 million annually). If Uniswap manages to move a portion of its trading activity to its own Layer 2, where the fees go to Optimism, ETH could lose a substantial part of its "revenue." Similarly, Uniswap V4 is bearish for ETH (see my previous research about it here: https://t.co/F7yaRT5duH), as the contract creation and optimization of multi-hop swaps via the Singleton model will lead to lower fees for swaps in general.

Resources: https://t.co/jWUOQdNWin