Uniswap Charges Accessibility with Rootstock Integration

The integration will provide users access to direct asset swapping and liquidity provision within the Bitcoin ecosystem.

Uniswap unicorn integrated with bitcoin network.
Created by Kornelija Poderskytė from DailyCoin
  • Decentralized exchange Uniswap has completed its expansion on the Bitcoin blockchain via Rootstock.
  • The integration will elevate Bitcoin’s DeFi landscape.
  • Uniswap recently expanded its services to other blockchain networks.

Decentralized finance (DeFi) has ushered in a new era for the global financial system, facilitating simplified access to trading and lending services for investors. Uniswap, the Ethereum blockchain-based decentralized exchange, has pioneered this space, offering exchange and wallet services, among others.

As more protocols initially exclusive to the Ethereum network expand to the Bitcoin blockchain, Uniswap is not lagging, now integrating Bitcoin to broaden its services. 

Uniswap Goes Live on Bitcoin Sidechain Rootstock

According to an email announcement shared with DailyCoin on December 12, the blockchain research and development company responsible for the Uniswap v3 trading terminal Oku, GFX Labs, has successfully integrated Uniswap v3 into Rootstock’s ecosystem. 

The integration will provide users access to direct asset swapping and liquidity provision within the Bitcoin ecosystem, introducing enhanced dimensions of on-chain swaps, liquidity depth, and yield opportunities.

In addition, the deployment of Bitcoin will enhance the DeFi capabilities within the network, acting as a bridge to incorporate Ethereum’s advanced functionalities and foster interoperability between the two blockchain ecosystems.

“Rootstock's combination of Bitcoin's security and Ethereum's smart contract capabilities, now augmented with Uniswap v3, introduces a new dimension of on-chain swaps, liquidity depth, and yield opportunities on Bitcoin's network”, the release read.

Uniswap has also extended its reach to Layer 2 blockchain networks, including Polygon, Optimism, and Arbitrum.

To find out more about intensifying regulations in DeFi and how it impacts Uniswap, read here:
Uniswap Users Up in Arms Over KYC Hook Feature  

FTX is going at it with the U.S. tax authorities over tax debt. Read more: 
FTX Tussles With The IRS over Alleged Unpaid $24 Billion Tax

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Grace Abidemi

Grace Abidemi, a cryptocurrency reporter at DailyCoin, covers industry developments and trends. She previously worked as a freelance writer. With a Bachelor's degree in German Language and certifications in marketing and storytelling, Grace creates engaging content. When not working, she's in Nigeria, mastering cooking and canvas painting, and enjoys learning about different cultures and languages.