Unichain L2 adds support for non-EVM assets DOGE, XRP and Zcash
Quick Take Uniswap Labs’ homegrown Ethereum L2 is adding support for DOGE, XRP, and Zcash through Universal protocol’s uAssets. The decentralized exchange is closely associated with Ethereum but has recently been expanding support for non-EVM assets, including Solana.
Unichain, the Ethereum Layer 2 launched by Uniswap Labs, is launching support for additional non-EVM assets, Dogecoin, XRP, and Zcash, according to an announcement on Thursday.
The move comes on the heels of the major decentralized exchange adding support for Solana earlier this month , seen as a major step for a protocol that is closely associated with the Ethereum ecosystem.
Uniswap is adding support for DOGE, XRP, and ZEC through the Universal protocol, which mints and burns tokens to create bridgeable "uAssets."
"Bridged assets via Universal are 1:1 redeemable for their native version on their home chain," Uniswap Labs wrote on X. "Users should never send these assets to centralized exchanges or wallets that don't support Unichain."
These assets can be accessed on Uniswap’s frontend website and can also be bridged over from their native chains, Uniswap said. DOGE is the first and largest memecoin while Zcash has been on a recent rally, in part propelled by the so-called " privacy meta " that has driven the token's price from $50 to over $350 in recent weeks.
When first introducing SOL, the Uniswap team said the move was an attempt to address the fragmentation between different DeFi ecosystems. Uniswap is the largest DEX by trading volume, according to The Block's data , though it has seen rising competition from alternative ecosystems like BNB Chain's Pancakeswap and Solana's Meteora.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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