Zora’s L2 Blockchain Comes to Uniswap DEX, Bringing NFTs

Zora, Ethereum’s blockchain layer 2 focused on the NFT theme, launched a few days later on DEX Uniswap after having new connections with the DeFi world.

Now Zora users can take advantage of the convenient and prestigious interface of the decentralized exchange to trade and/or provide liquidity across different pools.

Uniswap also launched NFT support to facilitate the onboarding of new users on the optimistic rollup: a future airdrop is also in sight.

Let’s see everything in detail below.

Zora blockchain live on industry leading DeFi DEX Uniswap

The #1 DEX in the crypto sector Uniswap has just launched official support for the Zora blockchainlayer-2 optimistic accumulation of Ethereum.

On June 25, both teams revealed the good news to their respective communities, who can now come together around the new integration.

On the one hand, the crypto exchange is expanding its suite of available networks, which now numbers up to 11 infrastructures after the recent launch of Blast.

On the other hand, Zora joins a particularly attractive exchange platform in the Challenge world, capable of multiplying the volume of exchanges for the innovative network.

In detail, the integration allows users to exchange assets available on Zora via the exchange functionboth from the web and from the mobile app.

To do this, simply enter the “swap” section of Uniswap, select the Zora network from the supported networks, and indicate the trading pair.

Then choose the amount to trade and the direction (e.g. trade ETH to USDC or USDC to ETH) and click “trade”.

In some cases, approval of token spending is required smart contractas in every DEX for cryptocurrencies.

Source: https://blog.uniswap.org/zora-is-now-live-on-uniswap#nft-support-in-the-uniswap-wallet

At the same time, it is possible to act as a liquidity provider (LP) on one of the different Uniswap pools available on Zora.

Providing liquidity You can earn a share of the fees users pay to use your loaned funds in the pool to make swaps. Generally, this varies depending on the pair, number of trades and expected commission.

To access this feature, simply go to the “pool” option on the DEX, click “new position” and select the pair you wish to offer.

Then indicate the fee level of the commissions, and deposit the indicated assets according to a 50/50 ratio.

Source: https://blog.uniswap.org/zora-is-now-live-on-uniswap#nft-support-in-the-uniswap-wallet

NFT support on Uniswap Wallet

We remind you that the blockchain of Zora focuses on developing a layer for buying and selling NFTtherefore non-fungible assets.

The Uniswap DEX is more of a platform focused on the exchange of fungible assets, with no section dedicated to trading real coins (such as To fall out Or OpenSea)

The partnership therefore seems to include the “swap” and “LP” functions without however touching the main button of the layer-2 Zora.

In all cases, Uniswap, to meet the demands of all its users, has also launched support for Zora Network NFT through the mobile application.

In this section, you can easily view NFTs on different wallet networks, including Base, Optimism, and even Zora.

From the website, a dedicated environment is also available, indicated precisely by the term “NFT”, where you can search for collections and exchange this type of assets.

Source: https://app.uniswap.org/nfts/collection/0xca21d4228cdcc68d4e23807e5e370c07577dd152

In any case, it should be emphasized that even without the NFT functionality, this collaboration between the parties is fundamental for the growth of their respective ecosystems.

For Uniswap, this means expanding its service offerings while for Zora, it represents an opportunity to increase visibility and usage.

This initiative is generally seen as a positive step towards greater interoperability and functionality in the decentralized finance Space (DeFi).

This news is part of a continued growth trend in the DeFi sector, with more and more platforms looking to integrate with each other to offer an all-in-one investment solution. The integration of Zora Network into Uniswap is a clear example of this trend that aims to bring together the best infrastructures around a single hub.

Zora’s TVL growth in recent months: possible airdrop launch

THE TVL of the Zora blockchain has grown significantly since its mainnet launch on June 21, 2023achieving excellent results.

To date, it has a total amount of bridging assets amounting to $26.88 million according to L2Beat data, almost triple compared to data from the beginning of the year.

On May 23, 2024, it had reached a record $36.9 million in TVL, but then saw a slight decline in the metric.

We are talking about much lower numbers compared to the industry-leading networks. Ethereum layer 2, but it must be contextualized according to the market targeted by Zora.

It is clear that compared to more DeFi focused chains like ArbitrationOp Mainnet and Base, this channel is very far behind in terms of TVL.

However, it is not excluded that through the integration with Uniswap it can gradually increase its popularity and attract liquidity even in secondary contexts.

At the moment, Zora is the 33rd channel in the ranking of the most “rich“rollups, behind Zkfair, Rhino.fi and Lyra, and ahead of Sorare, Kinto and Paradex.

Over the last 30 days, the blockchain has processed 3.5 million transactions with a throughput speed of 1.72 TPS. The optimistic rollup is still at STAGE 0, so its sequencers are still excessively centralized.

Source: https://l2beat.com/scaling/summary

Zora could also release a governance token via airdrop in the coming months, rewarding the entire active community of the network.

For those farming this airdrop, it might be a good idea to mint the new NFT commemorating Zora’s integration with Uniswap.

Obviously, this alone would not be enough to qualify, and other on-chain activities focused on the world of non-fungible tokens would be required.

Uniswap x Zora “Uni Zorb” NFT can be minted for 0.00119 ETH, or approximately $4.

Already 127,000 users have taken the opportunity to try to get a boost on the airdrop, simultaneously guaranteeing the creator of the collection a prize of 68 ETH.

In the world of finance, the terms “bull” and “bear” are often used to describe market trends. A “bull” market is characterized by an increase in prices, while a “bear” market is characterized by a decrease in prices. Understanding these concepts is essential for investors.

Fuente