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DeFi News

Uniswap Introduces Cross-Chain Bridging Across nine Networks

Permissionless bridging is intended to improve user experience and efficiency by streamlining this procedure.

Written By Jalpa Bhavsar
Fact Checked by Dhara Chavda
Published October 23, 2024 11:20 PM·Updated 2 years ago
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Uniswap Introduces Cross-Chain Bridging Across nine Networks

Uniswap Labs, the development team behind the popular decentralized exchange (DEX) Uniswap, has announced the launch of permissionless bridging across nine blockchain networks.

Uniswap Introduces Cross-Chain Bridging
Uniswap Introduces Cross-Chain Bridging, Source: Twitter

As per the blog post, this new functionality, accessible through Uniswap’s interface and wallet, addresses the complexities users face when moving assets between different chains.

In the past, third-party bridges with strange interfaces and lengthy transaction times were needed for cross-chain asset transfers, which complicated decentralized finance (DeFi) operations. Permissionless bridging is intended to improve user experience and efficiency by streamlining this procedure. 

The new bridging capability supports several prominent blockchain networks, including Ethereum, Base, Arbitrum, Polygon, Optimism Mainnet, Zora, Blast, World Chain, and ZKsync.

Powered by Across Protocol, the permissionless bridge operates through a decentralized network of liquidity pools and relayers, providing a more seamless and decentralized solution compared to traditional bridges.

Uniswap Labs noted that the integration of Across Protocol allows for more secure and efficient bridging without relying on centralized intermediaries.

Uniswap’s introduction of permissionless bridging aims to address its declining market share by enhancing cross-chain operability, a major challenge for DeFi users. 

The feature was ranked as the top request in a poll conducted on X (formerly Twitter) in July, where users expressed the need for simplified asset transfers across multiple networks.

Also Read: Uniswap Labs Launches Unichain to start a new era for DeFi

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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