Uniswap Adds Support for L2 Solution Blast

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The team at Uniswap Labs has launched their new protocol, called Uniswap, on Blast, a second-layer solution. This launch allows users to earn native income on their LP positions for the first time due to Blast’s rebalancing functionality.

Soon, this L2 solution will be available on the Uniswap DEX mobile application. Liquidity providers using USDB or WETH tokens can receive native income through Blast, similar to storing these coins in a Blast wallet.

However, this functionality is currently only available on Uniswap v2 and not on v3 due to technical limitations.

As the leading DEX, Uniswap’s TVL (total value locked) on 15 different networks is over $5.8 billion, according to DeFi Llama. Blast is an EVM-compatible scaling protocol that uses Optimistic Rollups to achieve high scalability.

It offers a passive income of 4-5% per annum. The project was launched in November 2023 by Pacman, the pseudonymous founder of the popular NFT marketplace Blur.