- Uniswap Web App now supports Solana, enabling direct swaps of over 1 million Solana tokens.
- Integration leverages Jupiter’s Ultra API for seamless Solana-based decentralized trading.
Top decentralized exchange Uniswap has introduced Solana network integration on its web platform, an important strategic move into one of the fastest-growing ecosystems in the crypto industry. The integration allows traders to trade more than one million Solana-based tokens directly on the interface of Uniswap, in addition to those of other supported blockchains and networks.
This integration is the first major expansion of Uniswap to non-Ethereum Virtual Machine-compatible chains, and the platform will be able to take a substantial market share in the flourishing Solana ecosystem.
Jupiter Partnership Powers Solana Trading
The Solana functionality of Uniswap is implemented by the newly developed Ultra API used by Jupiter to route transactions and execute orders on all Solana-based swaps on the platform. The pseudonymous co-founder of Jupiter, SIONG, verified that Uniswap is the first significant partner to deploy the Ultra API of decentralized token exchanges and trading activities.
The strategic collaboration will provide Uniswap with direct entry into the giant decentralized exchange market of Solana, which has already registered an impressive volume of trading of $140 billion in the last month. The DEX aggregator of Jupiter alone earned revenue of $17.5 million in the same period, which shows the high commercial activity and level of user engagement in the ecosystem.
The Uniswap engineers disclosed that the integration was not built to support a single blockchain but rather to use platform-agnostic architectural layers that can be extended to support more than one blockchain. This technical solution facilitates quicker deployment to more networks in the future, which may accelerate the cross-chain expansion plan of Uniswap and save a significant amount of development overhead.
The company stated that it would consider cross-chain bridging, which would allow the transfer of assets between Solana and other networks within the Uniswap ecosystem without any issues.
According to the engineering lead at Solana, Danny Daniil, Solana support will be added to Unichain, the layer-2 network that Uniswap Labs introduced earlier in February of this year. Asset bridging of different ecosystems to Unichain will seek to consolidate sources of liquidity, which will offer traders the best prices and execution in fragmented markets.
In May, Uniswap reached a historic milestone of being the first decentralized exchange to achieve a cumulative all-time trading volume of over $3 trillion around the world.
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Source: https://thenewscrypto.com/uniswap-expands-to-solana-network-in-major-cross-chain-push/
