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11 Dec 2023

Uniswap goes live on Bitcoin through Rootstock deployment

Decentralized exchange (DEX) Uniswap has completed the expansion of its operations to the Bitcoin blockchain by integrating with the Rootstock sidechain, according to a report from CoinDesk.

This integration is a landmark achievement for the flagship blockchain, paving the way for a suite of new features on Bitcoin led by decentralized exchanges.

Uniswap on Bitcoin

GFX Labs, creators of the trading terminal Oku, led the deployment of Uniswap version 3 (v3) on Rootstock. Previously, Uniswap had designed its platform for the Ethereum network and extended its services to several Ethereum layer-2 networks like Arbitrum, Optimism, and Polygon.

Rootstock functions as a sidechain to the Bitcoin blockchain and is noted for its security features derived from Bitcoin’s proof-of-work system. The integration with Uniswap v3 aims to enhance the DeFi features available on the Bitcoin network, offering users new swapping mechanisms, increased liquidity, and potential yield opportunities.

GFX Labs’ Oku will also supply Rootstock with advanced trading tools. These tools will feature analytics, limit orders, and efficient management options for liquidity providers.

Win for interoperability

The move is a significant step in the cryptocurrency world’s push towards interoperability, as platforms aim to harness the strengths of different blockchains to provide a more comprehensive and efficient user experience.

The collaboration between Uniswap and Rootstock reflects this trend, merging Ethereum’s smart contract functionality with the security of the Bitcoin network.

This expansion of Uniswap onto Rootstock follows the industry’s increasing interest in exploring new DeFi applications. Earlier in the year, developers introduced Uniswap smart contracts to the Bitcoin network, taking advantage of the new BRC-20 token standard that facilitates the issuance of tokens and DeFi applications on the Bitcoin blockchain.

The move of Uniswap to Rootstock is not just a technical achievement but also a symbolic indicator of the ongoing efforts to unify the capabilities of Bitcoin and Ethereum.

The post Uniswap goes live on Bitcoin through Rootstock deployment appeared first on CryptoSlate.

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