The crypto industry's largest DEX, Uniswap, will be deployed on Bitcoin's second-layer scaling network, Rootstock, later this week. This and more news is in this handy daily digest so you're always up to date with the latest developments in the crypto world.
Uniswap expands to Bitcoin's Rootstock network
📍The GFX Labs team will implement Uniswap V3 on Bitcoin's Rootstock scaling network via the Oku interface. According to a press release shared with multiple outlets, the GFX Labs developer team will deploy its Oku trading platform, and by extension Uniswap V3 smart contracts, on Rootstock in a move that seeks to enhance the capabilities of the broader DeFi ecosystem as well as unlock new opportunities and use cases on Bitcoin’s second layer.
GFX Labs developers said that later this week they will activate smart contracts for Uniswap V3, currently the largest DEX and AMM in the DeFi ecosystem, on the Rootstock network. The latter is a Bitcoin-based layer 2 network focused on scalability and security, which is compatible with the Ethereum Virtual Machine (EVM).
Rootstock is currently a prominent player in building and developing the Bitcoin blockchain ecosystem.
Regarding the integration, the GFX Labs team highlighted that the combination of Uniswap's smart contract capabilities on Ethereum and the security capabilities of the Bitcoin network will allow DeFi to be taken to a new frontier, deepening liquidity and improving performance opportunities on the most robust and secure blockchain on the market.
The Sandbox introduces a new token to empower creators
📍Ethereum's blockchain metaverse, The Sandbox, has introduced a new token called CATALYST, based on the ERC-1155 standard. This new token was created with the purpose of empowering content creators in the metaverse, allowing them to mint new assets that they can then monetize within the platform.
According to The Sandbox, CATALYST tokens are a replacement for the gems that creators need to mint their creations. These tokens are part of The Sandbox’s new and improved creation tools, with which the metaverse seeks to optimize its capabilities, as well as improve opportunities for creators.
The CATALYST token is based on the ERC-1155 standard on the Polygon blockchain, one of the main Ethereum scalability networks.
IEEE Adopts Avalanche Technology for Secure Credential Issuance
📍The Institute of Electrical and Electronics Engineers (IEEE) is using Avalanche's blockchain to issue tamper-proof credentials. According to the institute, the emerging and disruptive blockchain technology can enhance its accreditation system, making it more transparent, secure and reliable.
From its headquarters in India, where it has approximately 75.000 members, IEEE is using the C Chain, built on the Avalanche network, to issue credentials and skills certificates that are immutable and tamper-resistant.
Continue reading: 30 days to go until SEC's final decision on Ark Invest's Bitcoin ETF
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