Uniswap Labs and the Uniswap Foundation work together with Cross-Chain Bridge Wormgat to expand support for more tokens on Unichain, the Ethereum Layer 2 developed by Uniswap Labs. The move will start adding support for Solana’s Sol and the HyperevM hype, the companies said on Wednesday.
In a press release published on 3 September, Wormhole said that users can already bridge SOL and Hype -Tokens to Unichain via Wormhole Portal. Ultimately, the L2 is planning to add support for tokens of more than 40 block chains that are connected via Wormgat, unveils the press release.
To encourage early adoption, Uniswap-the largest decentralized exchange (DEX) with 24-hour volume-in short-term liquidity stimuli is rolled out that has been linked to the new couples. For the next two weeks, 2,872 Uni will be distributed weekly under USDC/Hype Liquuidity providers, while 3,351 Uni is distributed weekly under USDC/SOL providers, the release notes.
Unichain Use Slip
Unichain, which debuted in February, bleed quickly, with the total value locked (TVL) coronation of $ 902 million at the end of July to just $ 455 million this month, as a result of which almost half of its stock in a month, according to Defillama data.
Unichain TVL. Source: Defillama
Unichain financial statements. Source: Token Terminal
User activity is also slipping. Daily active users decreased 86.5% in May, 25.7% in June and 18.5% in July, with another 0.5% decrease in August, figures from the token terminal. Unichain currently has around 150,000 daily active users, which is less than half of the 357,000 of Uniswap.
The chain, which previously dominated the uniswap volumes, is overtailed by Ethereum, which now sees almost 55% of all trade volume on the leading DEX, according to data from Dune Analytics.
