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Uniswap Launches Permissionless Cross-Chain Bridging on Nine Networks, Including Polygon and ZKsync

by Soumen Datta

October 24, 2024

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The feature reportedly streamlines cross-chain transactions, improving user experience by eliminating complex external bridges and slow transaction times.

Decentralized exchange (DEX), Uniswap, rolled out a permissionless cross-chain bridging feature, offering users a seamless way to move assets between nine blockchain networks. 

Users can now transfer assets between prominent blockchains, such as Ethereum, Polygon, Base, Arbitrum, Optimism Mainnet, Zora, Blast, World Chain, and ZKsync—all without needing third-party services.

 

Traditionally, cross-chain transactions required the use of external bridges, which were often cumbersome due to their complicated interfaces and long transaction times. Uniswap's new permissionless bridging reportedly eliminates these barriers.

How Permissionless Bridging Works

Powered by the Across Protocol, the new feature allows users to move native assets—like ETH on Ethereum or ARB on Arbitrum—directly through Uniswap's interface. 

 

Stablecoins are also supported. The Across Protocol functions through decentralized liquidity pools and relayers, avoiding reliance on centralized entities and enhancing both security and speed.

 

Dune data shows that there are currently over six million Uniswap users using multi-chain access. However, cross-chain swaps remain a small percentage of overall activity. With this new bridge feature, Uniswap aims to increase its usage across multiple networks, driving growth in multi-chain DeFi operations.

Recent Developments

This latest update follows Uniswap’s earlier launch of UniChain, a layer-2 chain designed specifically for cross-chain liquidity and decentralized finance. Launched in early October, UniChain aims to address the ongoing challenges in DeFi, such as slow transactions and a lack of decentralization.

 

While Uniswap is making progress, it is also facing scrutiny from regulators. Earlier this year, the U.S. Securities and Exchange Commission (SEC) issued a Wells notice to Uniswap Labs, signaling potential enforcement action. 

 

The SEC claims that certain tokens offered by the platform may qualify as securities. However, Uniswap firmly disputes these allegations, maintaining that its tokens do not fall under securities law.

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

Author

Soumen Datta

Soumen is an experienced writer in cryptocurrencies, DeFi, NFTs, and GameFi. He has been analyzing the space for the last several years and believes there is a lot of potential with blockchain technology, even though we are still at an early stage. In his spare time, Soumen enjoys playing his guitar and singing along. Soumen holds bags in BTC, ETH, BNB, MATIC, and ADA.

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