Uniswap Expands to Bitcoin Sidechain Rootstock, Boosting DeFi Landscape

According to CoinDesk, decentralized exchange Uniswap has expanded to the Bitcoin sidechain Rootstock, enhancing the decentralized finance (DeFi) landscape of the world's largest blockchain. Uniswap version 3 (v3) was deployed on Rootstock by GFX Labs, the team behind trading terminal Oku. The project, initially designed for Ethereum, has also been deployed on Ethereum layer-2 networks Arbitrum, Optimism, and Polygon, as stated on Uniswap's website. Oku will supply Rootstock with trading tools that include analytics, limit orders, and liquidity provider position management. The integration of Ethereum-based Uniswap's smart contract capabilities with the security of Bitcoin's proof-of-work network could bring deeper liquidity and more DeFi use cases to the crypto industry. According to a press release, Rootstock's combination of Bitcoin's security and Ethereum's smart contract capabilities, now enhanced with Uniswap v3, introduces a new dimension of on-chain swaps, liquidity depth, and yield opportunities on Bitcoin's network. In May, developers deployed Uniswap smart contracts onto the Bitcoin network to capitalize on the rise of BRC-20, a token standard that enables the issuance of tokens and DeFi applications on Bitcoin. This year has seen various elements of blockchain networks more commonly associated with Ethereum and others find their way to Bitcoin, including the Ordinals protocol, which brought non-fungible tokens (NFTs) to the world's largest blockchain. There are also attempts to bring Ethereum-style smart contracts to Bitcoin.