Uniswap Launches Unichain on Optimism-based L2 Network｜Decentralized Finance Biweekly Report Early October

1. Decentralized Finance Industry Observation

1. Uniswap Labs launches a new Layer 2 network Unichain based on Optimism technology.

Unichain is a Layer 2 network launched by Uniswap Labs, built on the OP Stack technology of Optimism. The network is expected to launch its testnet on October 10, and the mainnet will be released later this year.

Unichain has introduced Trusted Execution Environment (TEE) technology developed in collaboration with Flashbots. With TEE, block construction time can be reduced to 200-250 milliseconds, far exceeding the speed of the Ethereum mainnet and other Layer 2 networks.

2. The trading platform Launchpool has launched pre-market trading for Scroll ($SCR)

Scroll is an Ethereum Layer 2 zkRollup solution that uses zero-knowledge proof technology to enhance the scalability of Ethereum. With this technology, transaction speeds are faster, costs are lower, while ensuring security and compatibility with Ethereum are not compromised.

The core technological breakthrough of Scroll lies in zkEVM and hardware acceleration. Scroll collaborates with the Ethereum Foundation to adopt the Halo2 verification system and has developed a zkEVM hardware accelerator named PipeZK, achieving a performance where GPU zkEVM verification is 10 times faster than CPU.

The SCR token features governance and future utility. The total supply is 1 billion SCR, with an initial circulation of 190 million SCR at launch.

The native USDC is officially launched on Sui.

Native USDC has now been launched on the Sui mainnet, allowing developers and users to access it directly without the need for cross-chain bridging. Circle Mint and Circle API now fully support USDC on Sui, making it easier for users to obtain USDC liquidity and enjoy the high speed and security of the Sui network.

Sui is a Layer-1 blockchain that provides fast, secure, scalable, and low-cost infrastructure for developers to build decentralized applications. As of October 2024, the Sui ecosystem has covered over 85 applications, involving Decentralized Finance, gaming, decentralized infrastructure networks (DePIN), and e-commerce.

4. The US court did not approve the sale of Silk Road Bitcoin, and the panic is based on misinformation.

Recently, there have been rumors that "the U.S. Supreme Court approved the sale of 69,370 bitcoins seized from Silk Road," which led to a drop in Bitcoin prices. In fact, the Supreme Court only dismissed Battle Born Investments' lawsuit regarding the ownership of the Silk Road bitcoins, confirming that these bitcoins still belong to the U.S. government and did not approve their sale.

Nevertheless, considering the proximity of the U.S. elections, current officials may sell these bitcoins before the elections. In particular, Trump has stated that if elected, he would not allow the sale, so the possibility of the U.S. government selling these bitcoins before the elections still exists, but this is merely speculation and there is no need to panic at this time.

5. Sui ecosystem related Decentralized Finance projects

The Sui ecosystem is currently strongest in the areas of Decentralized Finance and Meme-related projects. The main DeFi projects include:

Lending Agreement:

• Navi Protocol
• Suilend Protocol
• Scallop Protocol

Decentralized Exchange (DEX):

• Cetus Protocol
• Turbos Finance
• DeepBook

Other DeFi projects:

• Bucket Protocol
• Bluefin
• Typus Finance

6. Pyth has partnered with Uniswap to support Unichain Decentralized Finance.

Uniswap announced that its newly developed blockchain Unichain will select Pyth Network as its real-time data service provider. Pyth Network will provide Unichain with over 500 real-time price data sources, updating every 400 milliseconds, ensuring that developers can access accurate and reliable Decentralized Finance data.

7. Messari: Aptos set a new record for daily transaction volume of L1 blockchain in the second quarter of this year.

According to the second quarter status report released by Messari, Aptos has set multiple new records as an L1 blockchain. Key data includes:

• Daily trading volume: increased by 474%, reaching 4.4 million transactions.
• Total Value Locked (TVL) in DeFi: Quarterly growth of 123%, reaching 75 million APT (approximately 603 million USD).
• DEX daily trading volume: increased by 189%, reaching 30 million USD.

8. A certain trading platform's laboratory invested in ZKsync "Elastic Chain" Sophon during the token round.

Sophon is an elastic chain based on ZKsync, built using Matter Labs' modular open-source framework as a Layer 2 network. Sophon focuses on entertainment applications such as gaming, social interaction, and artificial intelligence, aiming to promote the development of the Web3 ecosystem. The mainnet is expected to launch next month.

2. Decentralized Finance Data Dashboard

1.TVL data

The Sui blockchain has stood out in the recent TVL (Total Value Locked) rankings, successfully breaking into the top ten, demonstrating its strong growth momentum in the Decentralized Finance sector.

2.Stablecoin Data

The total market capitalization of stablecoins is $172.818 billion, with no significant change over the past week. USDT (Tether) continues to dominate, holding a market share of 69.26%. Following closely is USDC, with a share of 20.1%.

3. DEX data

The trading volume of the decentralized exchange (DEX) has slightly declined over the past week, but Cetus is experiencing strong growth. Uniswap's 24-hour trading volume reached $1.542 billion, with a total trading volume of $9.799 billion over 7 days. Cetus is growing strongly, rising by 64.20% this week, with a 24-hour trading volume of $161 million.

3. Decentralized Finance Radar

Uniswap has launched Unichain, a Layer 2 network built on the Optimism OP Stack. This strategic release demonstrates Uniswap's ambition in expanding the Decentralized Finance ecosystem. Unichain is expected to attract a significant amount of DeFi liquidity back to itself, serving as a superchain architecture that can integrate liquidity from multiple chains to form a powerful ecosystem.

With the implementation of Unichain, we can expect to see more large projects with real revenue deployed here. The UNI token may become a key element for validation nodes in the future, significantly elevating its status. We are optimistic about those DeFi protocols that seize the opportunity early, as they are likely to make a comeback with the help of Unichain.