Uniswap simplifies token exchanges with a single click function
Uniswap's latest move is making headlines, as they've rolled out one-click swaps! This nifty feature, readily available on their web app, caters to smart wallets that comply with Ethereum Improvement Proposal 5792, also known as EIP-5792.
EIP-5792 introduces a standardized interface for transactions. This means that regardless of whether they originate from externally owned accounts or smart accounts, transactions maintain consistency, making your swapping experience smoother than ever.
Uniswap Labs declared triumphantly, "Fewer clicks, less gas, faster swaps." This announcement comes post Ethereum's Pectra upgrade, which expanded EIP-5792 support to an impressive 7,702 smart wallets, making them compatible with Uniswap's platform.
Users connecting via a compatible 5792-ready wallet can now approve tokens and execute swaps in a single transaction, making the process more streamlined. It's worth mentioning that Uniswap Labs chief executive Hayden Adams recently shared plans for the DEX to roll out its own 7702 wallet, in addition to supporting other 7702 wallets.
The goal? To make one-click swapping an option for all users, following a similar strategy implemented by Trust Wallet. The adoption of one-click swaps is expected to drive an increase in volume growth for Uniswap.
Uniswap's growth has been nothing short of phenomenal, leading the way as the first DEX to reach a staggering $3 trillion in all-time volume. Speaking at a recent event, Adams expressed optimism that it could be the first to reach a breath-taking $10 trillion.
Data from DeFillama shows Uniswap maintains a daily volume of over $3.62 billion, and a weekly aggregate volume of more than $20.8 billion—a 83% increase in this period. Although PancakeSwap's volume has seen a 127% surge in the past seven days, it still lags behind Uniswap. With a $3.63 BTC volume in 24 hours, it takes the lead in the DEX race.
By total value locked, Uniswap comfortably maintains its top spot with over $4.96 billion, significantly outstripping PancakeSwap's $1.79 billion worth. This development underscores the influential role of Uniswap in the DEX market.
- Uniswap's latest feature, one-click swaps, is now accessible through smart wallets that comply with EIP-5792, making the crypto finance business more efficient and user-friendly.
- The implementation of EIP-5792 in Uniswap allows for consistent transactions across various accounts, enhancing the experience of token swapping in the cryptocurrency industry.
- Uniswap Labs aims to make one-click swaps an option for all users, following a strategy similar to Trust Wallet's, in an attempt to drive volume growth and strengthen its position in the decentralized finance (Defi) and ico market.
- With a $3.63 billion BTC volume in 24 hours, Uniswap toweres over other DEXs, including PancakeSwap, demonstrating its dominance in the DEX market and exemplifying the significant impact of technology on the finance business.
- The growth of Uniswap has been extraordinary, as it became the first DEX to reach a $3 trillion all-time volume, and with optimistic expectations, it could be the first to achieve an astounding $10 trillion.
