Uniswap showed the way, Suhiswap is copying and expanding Arbitrum, a second layer solution for Ethereum.
In reaction to the high network fees on Ethereum for months, second layer solutions are becoming increasingly important for projects in the DeFi sector. One of them is attracting a lot of attention these days: Arbitrum. The platform of Offchainlabs, whose founding team consists of former elite professors from Princeton University in the US, went live as a beta version two days ago. After the Uniswap community has already voted in favor of the V3 protocol integration, the SushiSwap branch is now following it.
With the brief words “in action,” a SushiSwap co-founder signaled the move via Twitter. So that emancipated the third largest embedded DEX token ever further away from Ethereum. In March, SushiSwap CTO Joseph Delong unveiled the integration of the decentralized exchange across five other networks, including Polygon and Binance.
A few more DeFi projects are likely to join Uniswap and SushiSwap in the near future. According to the latest Offchainlabs blog post, more than 250 teams have already requested access to Arbitrum. For good reason. Arbitrum is the first second layer solution that is fully compatible with the Ethereum Virtual Machine (VME) and guarantees a smooth smart contract connection. To do this, it relies on the Optimistic Rollups process. For DeFi users, the second layer solution should pay off too. Developers forecast 50-fold reductions in gas rates.
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