🥛 4 BIG Protocol Updates To Know 🧐
Here are 4 that we’re watching closely…
1/ Uniswap Launched A New Trading Protocol
Uniswap is a popular decentralized exchange with ~$3.8B in total value locked (TVL).
It just launched a new trading protocol – UniswapX. Here’s everything you need to know:
It aggregates a bunch of liquidity sources (like automated market makers) and lets third-party “fillers” compete to execute trades.
You can swap without having to pay gas fees (they’re already folded into each transaction.) That means you don’t need a network’s native token (like ETH) to make a trade.
It protects you against MEV bots.
You have to opt into it on Uniswap’s main platform.
So what? DEX trading isn’t perfect. Liquidity can dry up quicker than the Sahara, which makes it harder for users’ trades to be processed.
UniswapX is looking to change that.
More liquidity = easier/cheaper trades.
2/ Chainlink Rolled Out A New Cross-Chain Protocol
Chainlink is a blockchain oracle network.
And it just launched what’s called a Cross-Chain Interoperability Protocol (CCIP.)
Blockchains do a lot of things. But they don’t have a way to talk to each other.
This could help big time with that. It wants to connect all blockchains and banks.
Chainlink teamed up with SWIFT for it – that’s the network big banks use to make international money transfers. Crypto 🤝 TradFi.
Only some users on 5 testnets (including Avalanche & Ethereum) are trying it out now. But it’ll eventually hit that sweet, sweet mainnet, where everyone can use it.
3/ Aave Rolled Out Updates To Lens
Lens Protocol is a decentralized social media app.
Here’s what’s new on it:
When you do something on-chain, that activity can be instantly shared on social media, like via a newly minted NFT to mark the occasion.
Allow you to block other users. Shade, but make it blockchain.
Makes it easier to move content across Lens apps and monetize off of it. #SideHustle
Lets you have multiple handles for each profile.
Lens over here trying to recruit the creators.
4/ Polygon’s Big-Deal Upgrade Is Coming Sometime This Month
Polygon is an Ethereum-based layer-2 blockchain (it processes transactions off the main chain so the network doesn’t get clogged.)
Well, say hello to Polygon 2.0.
It’ll:
Make it easier to create new chains within the Polygon network and use zero-knowledge proofs to process transactions. That makes everything cheaper & faster.
Launch a bridge so users won’t need to deal with wrapped tokens anymore. (Like when you use WBTC if you’re trying to deploy Bitcoin off its native blockchain.)
One giant step toward multichain scalability.
