Uniswap Secures $700 Million for Its Layer 2 – Could This Pepe Blockchain Be the Next Big Move?

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Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...

In a landmark development, Uniswap’s CEO Hayden Adams announced on October 10 that Uniswap Labs is launching a new Layer-2 scaling solution, aptly named Unichain.

This move positions Uniswap in the competitive market where major players like Coinbase, with its Base Chain, and OKX, with X-Layer, have already launched their own Ethereum layer-2 solutions.

Unichain is specifically designed to enhance DeFi product development, signaling Uniswap’s strategic entry into the intensifying race for Layer-2 scaling solutions.

Introducing @unichain — a new L2 designed for DeFi ✨

Fast blocks (250ms), cross-chain interoperability, and a decentralized validator network

Built to be the home for liquidity across chains pic.twitter.com/lqfJh6Ltio

This adds weight to the so-called ‘AppChain’ thesis, which suggests that in the future, dApps will run on their own dedicated blockchains rather than sharing a single blockchain such as Layer-1 Ethereum as part of a need for performance, customizability, and governance flexibility.

Projects such as Polkadot pioneered the AppChain thesis, which uses a parachain model to support the individual needs of dApps; however, it seems market growth is honing in on Ethereum scalability as the premier destination.

As Uniswap pushes up against resistance, UNI is currently trading at a market price of $7.96 (representing a 24-hour change of -2.2%).

This follows last night’s seismic pump, which saw the UNI price surge an impressive +17% in the wake of the Unichain announcement.

Now, in a minor localized retracement, as price