Uniswap v3 launches Optimistic Ethereum layer two scaling in alpha

[James Smith@686]

Long-awaited layer two scaling is finally being launched on Uniswap v3, albeit in a limited format initially.
https://cointelegraph.com/news/uniswap-v3-launches-optimistic-ethereum-layer-two-scaling-in-alpha

[amishmanish]

Looks like this launch coincided with a sharp drop in Ethereum price.

It is significant that Uniswap has not gone for any other scaling solutions that others like AAVE already tried, (Polygon for example). They have decided to stick with the OE team. There have been a lot of other teams working on scaling but it is highly likely that the one Uniswap sticks with, will find the most usage and acceptance due to the sheer number of users and transactions on Uniswap.

The recent rise of Polygon may just end up being a short lived bubble, if OE proves to be reliable. I still find it pretty odd that Ethereum crashed hard on this news.

[masterrex]

Long-awaited layer two scaling is finally being launched on Uniswap v3, albeit in a limited format initially.
https://cointelegraph.com/news/uniswap-v3-launches-optimistic-ethereum-layer-two-scaling-in-alpha

The unprecedented growth of UNISWAP brings a huge opportunity to most of the DEx protocols, But due to the expensive gas fees on Ethereum Network, it has caused a temporary slowdown on Ethereum base DEx's and paving the rise of the layer 2 solutions and I hope because of the UNISWAP v3 launch the problem of expensive gas fees will be totally solved and will be totally out of the picture.

[imamusma]

I'm really bullish about this protocol, it will remain a landmark in the ethereum ecosystem and I'm sure there will be many more use cases for the UNI token (currently only used for governance).

Yes, and if the transaction fees can be even lower than now, there will be even more users using the Uniswap platform next year because previously small traders could not swap on low assets due to the problem of large fees.

[Almasani]

Long-awaited layer two scaling is finally being launched on Uniswap v3, albeit in a limited format initially.
https://cointelegraph.com/news/uniswap-v3-launches-optimistic-ethereum-layer-two-scaling-in-alpha

Did the launch of Uniswap V3 provide the solution as stated? They launched V3 to address the problem of high transaction fees. If this case is not answered, then the launch of V3 still fails and does not provide the best solution for users of the Uniswap platform.

[amishmanish]

Long-awaited layer two scaling is finally being launched on Uniswap v3, albeit in a limited format initially.
https://cointelegraph.com/news/uniswap-v3-launches-optimistic-ethereum-layer-two-scaling-in-alpha

Did the launch of Uniswap V3 provide the solution as stated? They launched V3 to address the problem of high transaction fees. If this case is not answered, then the launch of V3 still fails and does not provide the best solution for users of the Uniswap platform.

It was a soft launch which means that the transactions between L1 and L2 have a very long finalization time. 7 days in this case. Then once on L2, you can create your money legos with minimal transaction cost and move around positions. Version3 has only allowed a limited number of currencies and there isn't much you can do yet.

You'll need to wait to see how this grows. I doubt that with the incentives of transaction front-running removed, the DeFi trading won't remain so lucrative. We are already seeing a bear market incoming due to these changes.