Arbitrum extends lead over Optimism as Uniswap posts record volume on L2

Leading decentralized exchange, Uniswap is seeing layer two volumes surge as Ethereum transaction fees surge once again.

Arbitrum extends lead over Optimism as Uniswap posts record volume on L2

Hayden Adams, the founder of Uniswap, tweeted that daily volume across v3 deployments of the DEX on layer-two networks has pushed into record levels. Hayden estimated that Uniswap v3 processed an unprecedented $115 million in combined daily volume across the Arbitrum and Optimism networks without providing a source.

Although Uniswap v3’s combined layer-two volumes are still tiny compared to its mainnet deployment — which currently represents $1.3 billion in daily activity according to CoinGecko.

Despite the Ethereum Foundation and crypto venture giant Andressen Horowitz backing Optimistic Ethereum, Arbitrum appears to have emerged as the DeFi community’s second-layer rollups solution of choice.

According to layer-two data aggregator L2beat, Aribtrum represents 60% of the total value locked (TVL) across layer-two networks combined since its mainnet launch in early September. Arbitrum’s TVL currently sits at $2.29 billion after increasing by 14% over the past week.

Read: Ghana to explore offline transactions for upcoming CBDC

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