Uniswap Labs Introduces Unichain Layer 2 Blockchain
Uniswap Labs Introduces Unichain Layer 2 Blockchain
Uniswap Labs has announced the testnet launch of its custom Ethereum Layer 2 blockchain, Unichain, which will integrate with the Optimism Superchain. This L2 aims to improve cross-chain liquidity access and transaction speed by leveraging Flashbot's Rollup Boost solution, potentially reducing block times to sub-second intervals.
Unichain will also unlock UNI token staking with users earning sequencer revenue through community validation. Uniswap’s new chain will offer better interoperability with other Layer 2s within the Superchain, improving the Ethereum ecosystem scalability and liquidity. Uniswap CEO Hayden Adams said that Unichain will reduce costs and contribute to the overall decentralization of DeFi.
Users and developers can connect Unichain to MetaMask to explore its Sepolia Testnet ahead of the planned mainnet launch in November.
Puffer Finance Unveils Governance Token and Airdrop Details
Puffer Finance has introduced its governance token, $PUFFER, along with details of an upcoming airdrop. The total token supply is 1 billion, with an initial 102.3 million tokens available. Airdrop claims will begin on October 14, 2024, and will run through January 14, 2025, distributing 7.5% of the total supply in the first season, with an additional 5.5% set aside for a potential season two airdrop.
The newly launched token will enable governance decisions and be staked for vePUFFER, giving holders more control over the platform's future developments. Puffer Finance initially started as a liquid restaking protocol and has since expanded into rollup solutions, holding over $1.3 billion in total value locked, ranking it second in the sector behind ether.fi.
Founder Antonio Juliano Returns as CEO of dYdX
Antonio Juliano has returned as the CEO of dYdX after stepping down for six months for personal and professional reasons. He stated that his motivation has evolved since founding the decentralized derivatives exchange, and he now feels ready to fully embrace his role again. This certainly breaks the trend, as we've grown accustomed to only seeing people leave crypto companies.
Under his leadership, dYdX has become the most used decentralized perpetuals exchange of all time having processed $1.42 trillion in cumulative volume (more than Hyperliquid, APX Finance and GMX combined). Juliano aims to lead the platform into its next phase of growth while focusing on building stronger connections within DeFi and crypto.
Stripe Re-Enables Crypto Payments for US Businesses
Stripe has resumed crypto payments for US businesses, allowing merchants to accept USDC payments via Ethereum, Solana, and Polygon. This marks the first time since 2018 that US businesses can accept crypto payments through Stripe, as it halted its Bitcoin support due to high fees and price volatility. However, alt L1s were successful in scalling, so it was time for a change.
The move aligns with Stripe's broader push into Web3 services, following its integration of crypto widgets for European vendors earlier this year. Stripe's reintroduction of crypto payments could pave the way for increased adoption of stablecoins in everyday transactions, with plans to expand this offering to more countries in the near future.
Data of the Day
Donald Trump’s odds of winning the US presidency have surged to +13% against Kamala Harris on Polymarket, largely driven by a mysterious trader known as Fredi9999, who has accumulated nearly 11 million shares in favor of Trump. The volume of bets has now surpassed $1.6 billion, with Trump viewed as the pro-crypto candidate.
Earlier this week, Elon Musk boosted Trump’s odds by endorsing Polymarket’s accuracy over traditional polls. Trump’s DeFi project, World Liberty Financial, is also gaining attention, as it seeks to raise $300 million at a $1.5 billion valuation.
More Breaking News
- Tron founder Justin Sun has been elected prime minister of Liberland, a self-proclaimed micronation that adopted Bitcoin as its official currency.
- US Senator Bill Hagerty has introduced a draft bill for stablecoin regulation, mirroring the Clarity for Payment Stablecoins Act in the House of Representatives.
- Ripple has rolled out new features for Ripple Custody, including real world asset (RWA) tokenization and XRP Ledger integration, to help banks adopt crypto.
- South Korea’s financial regulator is considering lifting the ban on local cryptocurrency ETFs and institutional accounts for crypto exchanges.
- Ubisoft is launching "Champions Tactics" on October 23, featuring blockchain-based in-game assets as the company expands into crypto gaming.
- Tezos baker Josh Jarrett has filed a new lawsuit against the IRS, seeking to classify staking rewards as property rather than income for tax purposes.
- Ripple Labs has filed a cross-appeal in its legal battle with the SEC to address remaining arguments over XRP’s classification as an unregistered security.
- The SEC has charged Cumberland DRW LLC for acting as an unregistered dealer after trading $2 billion worth of cryptocurrency without regulatory clearance.
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