Uniswap's Layer 2 network, Unichain, is approaching $12 billion in total trading volume within three months of hitting mainnet, as users seek alternatives due to high gas fees.
Unichain, built on the Optimism Superchain, offers faster and cheaper DeFi activities with one-second block times and up to 95% lower gas fees than Ethereum.
Unichain has become the fourth-largest Layer 2 network by total value locked, with a surge in activity driven by a $45 million liquidity incentive program and a significant increase in active addresses.
Amid competition, Uniswap fights back by leveraging its Unichain offering to attract users back with lower transaction fees and improved trading speeds, while also celebrating reaching $3 trillion in aggregate all-time volume.