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Decentralized Exchange Uniswap Expands to Bitcoin Sidechain Rootstock
Uniswap version 3 (v3) has been deployed on Rootstock by GFX Labs, the team behind trading terminal Oku
Dec 11, 2023, 3:00 p.m.
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Decentralized exchange Uniswap expanded to the Bitcoin sidechain Rootstock, in a boost to the world's largest blockchain's decentralized finance (DeFi) landscape.
Uniswap version 3 (v3) has been deployed on Rootstock by GFX Labs, the team behind trading terminal Oku, according to an emailed announcement shared with CoinDesk on Monday. According to Uniswap's website, the project, originally designed for Ethereum, has also been deployed on the Ethereum layer-2 networks Arbitrum, Optimism and Polygon.
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Oku will provide Rootstock with trading tools that incorporate analytics, limit orders and liquidity provider position management.
The combination of Ethereum-based Uniswap's smart contract capabilities with the security of Bitcoin's proof-of-work network could bring deeper liquidity and more DeFi uses cases to the crypto industry.
"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," according to the press release.
In May, developers deployed Uniswap smart contracts onto the Bitcoin network to capitalize on the rise of BRC-20 – a token standard to enable the issuance of tokens and therefore DeFi applications on Bitcoin.
This year has seen various elements of blockchain networks more commonly associated with Ethereum and others find their way to Bitcoin, not least the Ordinals protocol, which brought non-fungible tokens (NFTs) to the world's largest blockchain. There are also attempts to bring Ethereum-style smart contracts to Bitcoin.
Read More: Uniswap Labs to Charge 0.15% Fee on Crypto Swaps Involving ETH, USDC, Other Tokens
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