- Uniswap now supports the Solana network on its web app, allowing users to trade Solana-based tokens.
- Solana trades on Uniswap are processed through the Jupiter DEX aggregator, marking Uniswap as the first major project to use the Jupiter Ultra API.
- The move could strengthen Uniswap’s position in the Solana decentralized exchange ecosystem, which saw $140 billion in volume in the last month.
- Uniswap’s new integration uses platform-agnostic layers, not Solana-specific code, according to a company engineer.
- Uniswap processed $3 trillion in total all-time trading volume as of May 2024.
Uniswap, a leading decentralized exchange, has added support for the Solana network to its web application. This update allows users to connect their Solana wallets and trade tokens native to Solana, in addition to tokens from other supported blockchains.
According to a company blog post, Uniswap is also considering features like bridging assets, cross-chain swaps, and full support for Solana in the Uniswap Wallet. All Solana trades made through Uniswap’s web app will be routed via the Jupiter DEX aggregator. Jupiter’s pseudonymous co-founder, SIONG, said Uniswap is the first major partner to use the Jupiter Ultra API for trading swaps.
The integration gives Uniswap access to a Solana DEX ecosystem that has processed $140 billion in trading volume over the past 30 days, according to DefiLlama. Jupiter generated $17.5 million in revenue in the same period, based on Dune Analytics data. An engineer at Uniswap, Carter Cromer, stated that the team did not build specifically for Solana, but made “architect layers” that allow wider platform compatibility instead.
Danny Daniil, trading engineering lead at Uniswap, explained on social media that the Solana update could help their layer-2 network, Unichain, improve trading efficiency. “Bridging assets from Solana and other ecosystems (like HYPE) to Unichain lets traders find the best liquidity, wherever it lives,” Daniil said in a post.
Earlier this month, Sergej Kunz, co-founder of 1inch, suggested centralized crypto exchanges may eventually serve only as interfaces for decentralized platforms and aggregators. In May, Uniswap reached a milestone as the first DEX to surpass $3 trillion in total trading volume.
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