Uniswap Integrates Monad Testnet for Enhanced Swapping and Liquidity Provision – BitRss

Uniswap has announced that its users can now engage in swapping and liquidity provision on the Monad testnet through the Uniswap wallet and web app. This development marks a significant step as Monad, a new Layer 1 blockchain, is designed to handle up to 10,000 transactions per second, featuring one-second block times and single-slot finality. While the mainnet launch is anticipated soon, users can already access these features on the testnet.

To utilize the Monad testnet, users need to open the latest version of the Uniswap wallet or the Uniswap web app. By selecting the settings icon in the top right corner and enabling the ‘Testnet mode’ option, users can access swapping and liquidity provision on the Monad testnet.

Swapping and Liquidity Provision on Monad Testnet

For swapping on the Monad testnet, users should select ‘Swap’ in the wallet or visit app.uniswap.org/swap. From there, they can choose the Monad testnet from the network options.

Those interested in providing liquidity can navigate to the Pool Page, select Monad testnet from the network dropdown, and proceed by clicking ‘New’. Users can then choose the tokens for liquidity, confirm the fee tier, price range, and deposit amount before submitting the transaction.

Acquiring Testnet Tokens

To participate in the Monad testnet, users must fund their wallets with testnet tokens. These can be requested via Monad’s official faucet at testnet.monad.xyz.

The Monad testnet is currently live, allowing users to start swapping and providing liquidity through the Uniswap wallet and web app. For ongoing updates about Uniswap Labs and new chain support, users can follow Uniswap on X/Twitter or sign up for research and updates from the Uniswap Labs team.

Why This Matters: Impact, Industry Trends & Expert Insights

Uniswap’s integration with the Monad testnet introduces a high-throughput Layer 1 blockchain to its ecosystem, allowing users to engage in swapping and liquidity provision with enhanced speed and efficiency.

A recent industry report highlights significant advancements in Layer 1 blockchain technology, focusing on scalability and interoperability. This aligns with Uniswap’s integration of Monad, which boasts the ability to handle up to 10,000 transactions per second, emphasizing the ongoing evolution and importance of Layer 1 solutions in the blockchain space.

Insights from a ChainCatcher report indicate that Monad’s capabilities, including compatibility with Ethereum Virtual Machine bytecode, are designed to facilitate easier transitions for developers. This supports Uniswap’s strategic move to leverage Monad’s testnet for enhanced liquidity provision and swapping capabilities, offering a robust platform for decentralized applications.

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