Uniswap Labs revealed on October 10th that Uniswap, the prominent decentralized exchange (DEX), has unveiled its own application-specific layer-2 blockchain network named Unichain.

This innovative network, currently in the testing phase, is designed to offer accelerated and cost-effective transaction processing, along with advanced interoperability capabilities across various blockchain networks, as stated by Uniswap.

As of October 10th, Uniswap has amassed an impressive total value locked (TVL) of nearly $5 billion across approximately 25 blockchain networks, according to industry statistics.

Unichain forms a crucial component of Optimism’s Superchain, which is an interconnected network of layer-2 scaling solutions constructed utilizing Optimism’s technology stack.

Unichain is one of the superchain networks, alongside Coinbase’s layer-2 Base and SNAXchain, which oversees Synthetix’s decentralized perpetual exchange.

Uniswap Labs has announced that Unichain will have 1-second block times initially, with plans to reduce block times to less than 250 milliseconds in the future.

This improvement aims to provide users with a near-instant transaction experience.

Unichain will allow traders to access liquidity from other layer-2 networks in Optimism’s superchain. Superchain networks Base and Optimism currently host approximately $2.25 billion and $625 million in TVL respectively, according to DefiLlama data.