Uniswap Labs introduces the UniswapX Protocol

Uniswap Labs recently announced its latest product, UniswapX. Announced over Twitter, UniswapX is a permissionless, auction-based, open-source protocol. 

The protocol will be used for trading through multiple AMMs (automated market makers) and other liquidity sources. The beta version of the protocol is already available, and Uniswap has invited users to try it out.

According to the string of tweets, UnisswapX brings the next level of aggregation. The protocol is outsourcing the process of routing to an open filler network to fill swaps at optimal prices.

The integration will bring multiple benefits, such as:-

• Gas-free swapping
• No charges for failed transactions
• Better prices
• MEV protection
• Gas-free cross-chain swaps

Uniswap has started using swappers to facilitate a gas-free experience on UniswapX. The Swappers will sign an off-chain order that will be submitted on-chain by fillers. These fillers will pay gas on behalf of swappers to conclude the transaction.

Swappers won’t require a chain’s native token to trade. At the same time, they will not be charged for any failed transactions. The huge announcement created a stir in the community.

Many traders were intrigued by it and wondered how it would affect the Uniswap forecast. Given the unique value proposition UniswapX brings, the protocol is expected to boost Uniswap’s market stature significantly.

A major reason behind this is UniswapX’s MEV protection. MEV still stands among the biggest concerns among on-chain swappers. However, UniswapX will allow MEV to be left alone.

Instead, it will be captured by an arbitrage transaction that will return to swappers via better prices. After everything is executed, Uniswap will release its cross-chain UniswapX. The platform will merge bridging and swapping into one place.

It will allow swappers to swap between different chains in mere seconds. This also includes native asset swaps, severely reducing the need for any bridged token. The sheer possibilities UniswapX is opening is setting the protocol apart from the competition.