Uniswap DEX Launches on Bitcoin's Rootstock Sidechain
Uniswap v3 has launched on Rootstock, one of the many sidechains being developed for the Bitcoin network.
Image: Uniswap
According to CoinDesk, the decentralized exchange (DEX) Uniswap has expanded to Bitcoin by launching on Rootstock, a sidechain anchored to the world’s largest blockchain network.
This initiative is driven by GFX Labs, the team behind the Oku trading tool, which enables users to manage positions, place orders, and access analytical information on Rootstock.
A representative from GFX Labs commented that Rootstock combines Bitcoin's security features with Ethereum's smart contract capabilities. With the addition of Uniswap v3, it will pave the way for more trading, liquidity, and yield opportunities for Bitcoin.
Uniswap, initially designed to operate on Ethereum, has since expanded to other blockchains, including BNB Chain, Polygon, Arbitrum, Optimism Base, and more, to capture a broader market share.
In 2023, the Bitcoin network witnessed the rise of Ordinals, Inscription, and BRC-20 tokens. This surge has sparked a movement to build additional protocol layers to enhance Bitcoin’s functionality. Notable projects in this space include RGB Protocol, BitVM, and Spiderchain.
The Inscription trend has even spread to other blockchains like Polygon, Fantom, Avalanche, BNB Chain, and TON, causing network congestion and record-high transaction volumes.
The Bitcoin community is deeply divided over Ordinals and Inscription, with some viewing it as mere spam that should be eliminated to ensure Bitcoin retains its core function as a currency and value transfer network.
