On Thursday, the decentralized commerce (dex) and automatic market maker (AMM) Uniswap revealed that transaction volumes on the platform’s layer two (L2) solutions fetch surpassed the $500 billion threshold.
Half a Trillion and Counting: Uniswap’s Layer 2 Enlargement Shatters Recordsdata
Since its debut on Ethereum mainnet on Nov. 2, 2018, Uniswap has vastly developed, expanding its attain to encompass assorted assorted networks and Ethereum L2 solutions. It at the moment ranks because the sixth-largest decentralized finance (defi) protocol, boasting a total price locked (TVL) of $6.241 billion.
On Jan. 16, citing insights from Dune Analytics, Uniswap highlighted this major success in L2 volume exercise on X. “Recent year, unique milestone,” Uniswap talked about. “L2s correct crossed $500B in all-time volume on the Uniswap Protocol—Next discontinuance, $1T.”
Recordsdata from Dune reveals that a terrific portion of Uniswap’s layer two (L2) transaction volume occurred in 2024. The statistics quilt exercise on platforms comparable to Arbitrum, Polygon, Optimism, Deplorable, Blast, World Chain, Zksync, and Zora. First of all of 2024, Uniswap’s L2 volumes stood at $196.19 billion. As of this day, that decide has climbed to $501.66 billion, indicating that $305.47 billion in volume has been processed since Jan. 2024.
On the start of the year, gas charges paid by L2s for posting transaction files and verifying states on Ethereum’s mainnet were steep. As an illustration, on March 10, 2023, three L2s collectively paid $1.4 million in gas charges. Alternatively, that “hire” paid to Ethereum, or layer one (L1), has seen a pointy reduction, with day to day rates generally below $150,000. Uniswap is also linked to 28 assorted blockchains (including L2s), in line with files from defillama.com.
