Uniswap Discusses Deploying V3 on Coinbase’s Base Layer 2
• Three Uniswap contributors explored the potential of deploying V3 on Coinbase’s Layer 2 blockchain Base.
• Uniswap’s Total Value Locked (TVL) across all its deployments is $4.08 billion, with V3’s TVL representing 71% of the DEX’s entire TVL.
• The DEX has seen increased accumulation in the last seven days and an influx of traders trying to take advantage of meme coin trading.
Uniswap Contributors Discuss Deployment on Coinbase’s Layer 2 Blockchain Base
Three influential contributors to Uniswap have commenced discussions to explore the potential deployment of the DEX’s V3 iteration on Coinbase’s Layer 2 blockchain Base. A proposal has been submitted to discuss a potential deployment of Uniswap V3 on Base with proponents citing its integration with the Coinbase ecosystem as a way to introduce new users and provide a better user experience and developer platform compared to Ethereum.
Record Number of Active Users and Increased Accumulation for UNI
Uniswap has seen increased accumulation in the last seven days, along with record numbers for active users on its platform, surpassing 30 million users earlier this month. With meme coin trading becoming increasingly popular, traders have been flocking to Uniswap in order to take advantage of market opportunities leading to an increase in daily active user count by 53% over the past 30 days according to Token Terminal data.
Total Value Locked Across All Deployments
Deployed across six chains, namely Ethereum, Arbitrum, Polygon, Optimism, BNB Chain, and Celo – Uniswap’s Total Value Locked (TVL) across all these networks was $4.08 billion when data from DefiLlama was surveyed. Of its three deployments, Uniswap V3 had a TVL worth $2.9 billion which represented 71% of the DEX’s entire TVL at that time point – showing consistent growth since January 2021 when data was first collected by DefiLlama at 24%.
Leading The Way On DEX Trading Volume
Data from Dune Analytics also shows that Uniswap led the way when it came down to total trading volume conducted among decentralized exchanges (DEXes). Over the past 7-day period it was responsible for 54% of all trades conducted within those DEXes with a total trading volume standing at 8.40 Billion USD at that time point in May 2021..
The increasing number of active users combined with consistently growing TVL values show that Uniswap continues to be one of leading protocols when it comes down decentralized exchange services offered within DeFi space – making it very likely that these discussions around deploying their protocol onto Coinbases‘ layer 2 blockchain may lead somewhere further down the line in terms of development progress being made regarding integrating into different blockchains or more mainstream financial services providers such as CoinBase itself.