Uniswap's Expansion: Embracing Bitcoin Sidechain Rootstock

• Uniswap Extends to Bitcoin's Sidechain Rootstock
• Uniswap's Debut on Ethereum Layer-2 Networks
• Merging Uniswap's and Bitcoin's Potentials
• Uniswap's Smart Contracts on Bitcoin Network
• Uniswap Labs' Fee for Crypto Swaps

Uniswap Extends to Bitcoin's Sidechain Rootstock

Uniswap, a decentralized exchange, has broadened its operations to include Rootstock, the sidechain of Bitcoin$42,260 -0.64%. This move enhances the decentralized finance (DeFi) capabilities within the ecosystem of the leading global blockchain. Uniswap version 3 (v3) was installed on Rootstock by GFX Labs, the organization that also developed the Oku trading terminal. This was confirmed through an announcement distributed via email to CoinDesk earlier this week.

Uniswap's Debut on Ethereum Layer-2 Networks

The original design of Uniswap was primarily tailored for Ethereum$2,315 -2.42%. However, the project has also been hosted on various Ethereum layer-2 networks such as Arbitrum, Optimism$3.67 -1.41%, and Polygon$0.967 -3.65%, as indicated on Uniswap's website. Oku is set to equip Rootstock with trading utilities, which will include analytics, limit orders, and the management of liquidity provider positions.

Merging Uniswap's and Bitcoin's Potentials

The pairing of Uniswap's Ethereum-based smart contract functionalities with the security of Bitcoin's proof-of-work network is likely to result in increased liquidity and more DeFi use cases within the crypto sector. With the integration of Uniswap v3, Rootstock's fusion of Bitcoin security and Ethereum smart contract capabilities has ushered in a new level of on-chain swaps, liquidity, and yield opportunities on the Bitcoin network, as stated in a recent press release.

Uniswap's Smart Contracts on Bitcoin Network

In May, developers implemented Uniswap's smart contracts onto the Bitcoin network to capitalize on the growing popularity of BRC-20, a token standard that facilitates the creation of tokens and therefore DeFi applications on Bitcoin. This year has witnessed elements of blockchain networks that were initially associated with Ethereum and other similar platforms being adopted by Bitcoin. This includes the Ordinals protocol, which enabled non-fungible tokens (NFTs) on Bitcoin, the largest blockchain globally. Efforts are also underway to introduce Ethereum-style smart contracts to Bitcoin.

Uniswap Labs' Fee for Crypto Swaps

Uniswap Labs has set a 0.15% fee on crypto swaps involving ETH, USDC, among other tokens.

Edited by Jonathan Stoker