Decentralized Finance Industry Observation

Uniswap launches a new Layer 2 network Unichain based on Optimism technology

Uniswap Labs has launched a new Layer 2 network called Unichain, built on the Optimism OP Stack technology. Unichain is expected to go live on the testnet on October 10, with the mainnet launching later this year.

Unichain has introduced a trusted execution environment technology ( TEE developed in cooperation with Flashbots. Through TEE, the block construction time can be reduced to 200-250 milliseconds, far exceeding the speed of the Ethereum mainnet and other Layer 2 networks.

![Uniswap launches Optimism-based L2 network Unichain｜Snap DeFi Biweekly Report October ) on](https://img-cdn.gateio.im/webp-social/moments-98f84d044e41469bc2f64d1ac8d17a8b.webp(

A trading platform launches pre-market trading with Scroll)$SCR(

Scroll is an Ethereum Layer 2 zkRollup solution that uses zero-knowledge proof technology to enhance Ethereum's scalability. The core technological breakthrough of Scroll lies in zkEVM and hardware acceleration. Scroll collaborates with the Ethereum Foundation, employing the Halo2 verification system, and has developed a zkEVM hardware accelerator called PipeZK, achieving a performance where GPU zkEVM verification is 10 times faster than CPU.

The functions of the SCR token include governance and future use as a validator and sorter token. The total supply is 1 billion SCR, with an initial circulation of 190 million SCR at the time of listing.

Native USDC officially launched on Sui

Native USDC has now been launched on the Sui mainnet, allowing developers and users to access it directly without the need for cross-chain bridging. Circle Mint and Circle API now fully support USDC on Sui, making it easier for users to access USDC liquidity and enjoy the high speed and security of the Sui network.

Sui is a Layer-1 blockchain that provides fast, secure, scalable, and low-cost infrastructure suitable for developers to build decentralized applications. As of October 2024, the Sui ecosystem has covered over 85 applications across various fields including Decentralized Finance, gaming, decentralized infrastructure networks, and e-commerce.

US Court Denies Approval to Sell Silk Road Bitcoin, Panic is a Misinterpretation

Recently, there have been rumors that "the U.S. Supreme Court approved the sale of 69,370 Bitcoins seized from Silk Road," which led to a drop in Bitcoin prices. In fact, the Supreme Court only dismissed Battle Born Investments' lawsuit regarding the ownership of the Silk Road Bitcoins, confirming that these Bitcoins still belong to the U.S. government and not approving their sale.

Nevertheless, considering the upcoming US elections, current officials may sell these bitcoins before the election. In particular, Trump has stated that he would not allow sales if elected, so the possibility of the US government selling these bitcoins before the election still exists, but this is merely speculation, and there is no need to panic at this time.

Sui Ecosystem Related Decentralized Finance Projects

The Sui ecosystem is currently strongest in the fields of Decentralized Finance and Meme-related projects, with the main DeFi projects including:

Lending Agreement:

• Navi Protocol: The lending protocol with the highest TVL on Sui, exceeding $350 million.
• Suilend Protocol: Developed by the Solend team on Solana.
• Scallop Protocol: Sui native lending platform, TVL exceeds $150 million.

Decentralized Exchange ) DEX (:

• Cetus Protocol: The DEX with the highest trading volume and TVL on Sui.
• Turbos Finance: TVL is growing rapidly, supporting a large number of meme token transactions.
• DeepBook: Adopts an efficient shared object pool structure, greatly enhancing trading throughput.

Other Decentralized Finance projects:

• Bucket Protocol: a decentralized stablecoin project with a TVL of over 20 million USD.
• Bluefin: The number one derivatives trading platform on Sui.
• Typus Finance: Derivative infrastructure of the Sui ecosystem.

Pyth partners with Uniswap to support Unichain Decentralized Finance

Uniswap announced that its newly developed blockchain Unichain will choose Pyth Network as its real-time data service provider. Pyth Network will provide Unichain with over 500 real-time price data sources, updating every 400 milliseconds, ensuring that developers can access accurate and reliable Decentralized Finance data.

Messari: Aptos set a new record for daily transaction volume among L1 blockchains in Q2 of this year.

According to the Aptos second quarter status report released by Messari, Aptos has set multiple new records as an L1 blockchain. Key data includes:

• Daily trading volume: increased by 474%, reaching 4.4 million transactions.
• Total value locked in DeFi ) TVL (: Quarterly growth of 123%, reaching 75 million APT.
• DEX daily trading volume: increased by 189%, reaching 30 million USD.

A trading platform's laboratory invests in ZKsync "Elastic Chain" Sophon

Sophon is a flexible chain based on ZKsync, built as a second-layer network using Matter Labs' modular open-source framework. Sophon focuses on entertainment applications such as gaming, social networking, and artificial intelligence, aiming to promote the development of the Web3 ecosystem. Sophon utilizes ZK Stack technology to achieve gas-free native account abstraction, and the zkEVM codebase based on zkSync has performed excellently in multiple tests.

Decentralized Finance数据面板

TVL Data

The Sui blockchain has stood out in the recent TVL rankings, successfully making it into the top ten, which demonstrates its strong growth momentum in the Decentralized Finance sector.

![Uniswap launches Unichain, an L2 network based on Optimism｜Snap DeFi Bi-Weekly Report October )](https://img-cdn.gateio.im/webp-social/moments-10d990d1edf4eadb085df95640efee75.webp(

Stablecoin Data

The total market value of the global stablecoin market has reached $172.818 billion, but has slightly decreased by 0.19% in the past week. USDT remains dominant, with a market share of 69.26%. USDC accounts for 20.1%, making it the second-largest stablecoin after USDT.

DEX Data

In the decentralized exchange )DEX( market, Uniswap and a certain platform still maintain a leading position. Uniswap's 24-hour trading volume reached $1.542 billion, with a trading volume of $9.799 billion in the past 7 days. Cetus has shown strong growth, rising 64.20% this week, with a 24-hour trading volume of $161 million.

![Uniswap launches Unichain, an L2 network based on Optimism｜Snap DeFi Biweekly Report October )](https://img-cdn.gateio.im/webp-social/moments-0452c3188b4d2a9b2055838e2abc26d5.webp(

Sounding the DeFi Radar

Uniswap has launched the Layer 2 network Unichain built on the Optimism OP Stack. This strategic release not only showcases Uniswap's ambition to expand the Decentralized Finance ecosystem, but also sparks discussions on liquidity redistribution.

Unichain is expected to attract a significant amount of liquidity back to itself. As a superchain architecture, Unichain can integrate the liquidity of multiple chains, thereby forming a powerful ecosystem. The total locked value of the superchain )TVL( is expected to reach the level of tens of billions of dollars, bringing numerous opportunities for DeFi strategy teams and market makers.

The UNI token may become a treasure in this process. In the future, as the UNI token becomes a key element for validating nodes, its status will significantly rise, surpassing that of public chain tokens. The current market value of UNI is $4.836 billion, and the TVL and yield opportunities generated from this will continue to increase.

We are optimistic about those DeFi protocols that seize the opportunity to "take the first bite of the crab"; they are expected to make a comeback with the help of Unichain.