Uniswap Integrates Blast Layer 2 Solution

The Uniswap Labs team has deployed the eponymous protocol on the Blast Layer 2 solution.

Ready for takeoff

Uniswap is now live on Blast? pic.twitter.com/uukRWHnY8K

— Uniswap Labs ? (@Uniswap) April 2, 2024

“With this launch, Uniswap users can for the first time earn native income from their LP positions thanks to Blast’s rebalancing functionality,” stated the project’s blog.

Support for the L2 solution will soon be available in the mobile application of the DEX.

“Liquidity providers in pools with USDB or WETH tokens can earn native income (as if they stored these coins in a Blast wallet),” the developers emphasized.

According to them, such functionality is supported only in the second version of the exchange. Uniswap v3 users do not have access to “native income” due to the technical implementation specifics of concentrated liquidity.

The TVL of the leading DEX, considering 15 supported networks, exceeds $5.8 billion, according to DeFi Llama.

Blast is an EVM-compatible scaling protocol utilizing Optimistic Rollups. The platform offers a passive income of 4-5% per annum.

The project was launched in November 2023 by the founder of the NFT marketplace Blur under the pseudonym Pacman. Initially, the protocol did not even have a test network and offered users to deposit coins via a bridge. 

At the time of writing, the ecosystem’s TVL stands at $1.27 billion. Blast ranks sixth in the DeFi Llama ranking.

The Blast mainnet launch took place on February 29. Shortly thereafter, users withdrew $1.3 billion from the protocol.