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- Solana (SOL) has been officially added to the Uniswap Web App, making it easier for users to swap tokens across chains.
- Uniswap has also hinted that it is exploring bridging, cross-chain swaps, and other features to improve its user experience and simplify navigation.
Uniswap has announced that its Web App has finally added support for Solana (SOL), following the feature’s emergence as the most requested by its community.
This means that users can now connect their Solana wallets and directly swap SOL tokens, as detailed in our recent coverage.
More About the Uniswap Web App Support for Solana (SOL)
Explaining why this decision was made, Uniswap pointed out that Solana’s Decentralized Finance (DeFi) ecosystem, with a Total Value Locked (TVL) of $11.4 billion, has been in existence alongside Ethereum as the top DeFi ecosystem in the industry.
Despite their high demand, users have, over the years, dealt with the complex situation of switching between apps, managing different wallets, and exploring new interfaces to access the tokens.
That kind of fragmentation makes DeFi harder than it should be. It adds friction for experienced swappers and raises the barrier for people just getting started.
The decision to roll out support for Solana on Uniswap Web App ensures that users can stay in one place and swap tokens across ecosystems, including Ethereum, Base, Unichain, etc. Most importantly, this addition enables users to access more liquidity and more tokens, according to Uniswap.
Exploring how this works, we discovered that users would have to connect their favorite supporting Solana wallet, choose Solana from the network button, and swap. Notably, Uniswap has announced that it will make movement across chains even easier by exploring bridging, cross-chain swaps, and full Uniswap wallet support.
Despite this announcement, the price of SOL continues to decline, now dropping below $180 to $178. In the last 24 hours, SOL has declined by 7%, extending its weekly loss to 18%. Meanwhile, traders’ interest remains high as daily trading volume rises by 14% to $10.5 billion.
As indicated in our previous news brief, an analyst expects this asset to rise as high as $2000 once the bull market returns.
UNI, the native token of Uniswap, has also fallen by 8% in the last 24 hours, 25% in the last seven days, 35% in the last 30 days, and 41%, in the last 90 days. At the time of writing, UNI was trading at $6. As noted in our earlier analysis, the asset could bounce back to reach $73 this cycle.
Currently, the ecosystem keeps expanding as it recently acquired Guidestar. According to that report, the Guidestar team, including Alex Nezlobin, would join Uniswap to continue their execution research while working on advanced market design.
Building on that flexibility, Guidestar has been exploring how to adapt AMMs to the specific needs of different markets: stablecoins, liquid staking tokens, real-world assets, long-tail and high-volume tokens, across a variety of on-chain environments (from blockchains with priority ordering to first-come, first-served models).
According to our recent update, Uniswap has broken the $1 trillion barrier in annual trading volume. Before this, it integrated Sony’s Soneium to ensure easy bridges and swaps across networks, as discussed earlier.
