Uniswap v3 Alpha is launched on Optimistic Ethereum »CryptoNinjas, the second-tier expansion platform
Optimism’s roadmap promises further powerful improvements, including additional extensions, smart wallet EOA (no “approval” to pay for gas in any tokens), and decentralization of transaction sorting operations.
During this Alpha, OE will support an initial throughput of 0.6 transactions per second. Because Uniswap v3 is currently one of the few protocols deployed to OE, this should translate into transaction capacity roughly the same as L1. Unlike L1, transactions on OE will be confirmed immediately.
Assuming that Uniswap v3 has the same usage rate as L1, OE should provide up to 10 times transaction cost savings.
The additional demand will push up the cost of natural gas; however, as the OE infrastructure is tested and optimized on a large scale, the transaction speed will increase in the coming weeks and months. The ultimate goal is to effectively expand to fully meet the needs of low-cost, high-speed DEX transactions.
OE analysis can be tracked Here.
Users can start migrating assets to the Optimism Ethereum network in the following ways The Gate of Optimism. Optimism is compatible with Metamask, WalletConnect, Etherscan and The Graph.
The Alpha release feature requires attention:
- Downtime: In the early stages of OE, there will be downtime (including planned and possibly unplanned), during which the LP will not earn transaction fees to compensate for the price risk.
- Withdrawal time: The deposit from Ethereum L1 to Optimistic Ethereum is instant. However, before the fast withdrawal service is provided, it takes 7 days from OE withdrawal to L1.
- Select asset: Uniswap v3 can support any ERC-20 token on OE, but will provide a limited number of assets (ETH, USDT, WBTC, DAI, SNX) at launch. In the next few days and weeks, more tokens will be bridged to Optimistic Ethereum.
- TWAP Oracle: The Optimism sorter introduces additional trust assumptions for developers using v3 price feeds.
- Composability: OE supports full composability. However, at startup, the network does not allow arbitrary deployment of smart contracts.
“Please treat it as an early alpha product. Optimistic Ethereum is a complex layer 2 scaling solution that still requires rigorous battle testing. At the time of release, the Optimism team will have the right to upgrade the bridge contract, allowing them to resolve any issues. The mistake that should have occurred. Expansion of Ethereum will be an iterative process, but this is an important step forward. Optimistic Rollups and ETH 2.0 are complementary scaling solutions that jointly promote DeFi into the mainstream.”
– Uniswap team