, its Ethereum Layer-2 solution, Uniswap has announced a Uniswap Developer Grant program.){kind=link}
- Uniswap Labs is trying to grow its ecosystem by launching the developer grant.
- Last week, the Unichain testnet was launched by the decentralized exchanges.
- The protocol might completely change Uniswap’s financial situation positively.
Following the release of Unichain (UNI), its Ethereum Layer-2 solution, Uniswap has announced a Uniswap Developer Grant program.
This program fosters technological advancement within Unichain and supports developers of Decentralized Finance (DeFi). Only a specific group of persons can access the Grant, according to an X post from the Uniswap Foundation.
Unichain Developers Grant Has Introduced Five Programs
To access the Unichain developers grant, one has to fulfill some conditions. They must include projects focused on new swapping methods and innovations based on the DeFi experience. The Grant is divided into five categories that are suitable for the projects.
The Unichain Cuilder Open Call supports developers in so many ways. It provides technical support, funding, and go-to-market resources to enhance the Uniswap community.
Another sub-program has also been introduced under this new initiative called Unchain Infinite Hackathon. This program is designed to accept projects from all over the world. These organizations will vie for a $7,500 monthly grant.
A committed group of DeFi specialists will choose projects with traction and impact for the Unichain Retro Grants. After determining eligibility, they can apply for grant funding of up to $7,500.
In 2025, the Audit Subsidy Fund will be established. As soon as it is activated, developers and teams can apply to be eligible for funds to cover their audit costs. Unichain developers are eligible for Optimism Collective Grants programs as Superchain members.
Change in Uniswap Price After Unichain Development
Uniswap (UNI) price has experienced a bullish momentum after the launch of Unichain. The surrounding sentiments have also supported this move. The UNI price has witnessed a bullish spike of 16.47% as Uniswap unveiled the launch of Unichain last week.
Vitalik Buterin recently showed disposition toward the project. The price momentum was halted when the community asked him questions regarding this stance. As a result, the UNI price has been in a consolidation phase near the $8 mark.
Uniswap crypto was trading at $7.97 when writing, which experienced an intraday loss of 2.06%. The price has remained bullish weekly, with a gain of 18%. This development was expected to push the market capitalization. The market capitalization was lifted to $4.80 at press time.
Unichain Launch Poised to boost Uniswap Ecosystem
A boost in the Uniswap ecosystem is anticipated after the Unichain launch. Under this initiative, the speed could be faster, cross-chain interoperability could be enhanced, and a decentralized validator network could be enhanced.
Micheal Nadeau is a founder of The DeFi Report and expressed a statement. He has focused on three significant financial effects of the launch of Unichain. He presumes that the Ethereum L2 is designed for DeFi, which is based on Superchain and might avoid validators.
This is noteworthy because Unichain may significantly change Uniswap’s trading revenue. The fees, which came to roughly $1.3 billion last year, are typically paid to the L2 sequencers. This includes Ethereum validators, liquidity providers, and MEV bots.
Nadeau is sure that Uniswap Foundation will be able to capture this value with Unichain. The researcher says that since Uniswap will own the validators on Unichain, they can capture MEV.
Furthermore, all trading fees must continue to be paid to liquidity providers. Unichain’s implementation may increase its chances of participating in the settlement and MEV. ETH validators, token owners, and Arbitrum and Base sequencers may all be impacted by this shift.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.