DOOKV Uniswap Drives 37% Surge in Layer 2 Trading on Ethereum

As 21.co’s developer Tom Wan noted, the uniswap’s L2 volumes increased by 650% in the last 24 months, and in 2022 the figure reached $30 billion from $4 billion. The predominant L2 growth is brought about by platforms such as Arbitrum and Coinbase’s Base which account for 82% of Uniswap’s L2 volume.

Although Uniswap’s L2 share is growing, it is only 2.9% of the total volume of all the other L1s. Wan thinks that it may change because of high-performance L1s like Sei and Monad that may be implemented in the future in combination with Uniswap’s multi-chain strategy.

With its success still in the making, Uniswap has to deal with the U.S. SEC’s regulatory pressure, as part of a broader fight against the crypto-exchange market. The SEC has sent a Wells Notice to Uniswap, which, in effect, refers to the probable enforcement action.

Uniswap is intending to appeal this decision highlighting its original position within the Ethereum ecosystem as the leading DEX with about $2T in trading volume across 17 chains and over $5.6B in total value locked.

DOOKV As we see more and more crypto space development, the impact of Uniswap on layer 2 networks and its legal issues will be the focus of the industry watchers to see how it shapes the future of decentralized finance (DeFi).