As Uniswap layer-two volume climbs into record highs, DeFi customers appear to be preferring Arbitrum over Optimism for scalability.
Layer-two volumes are increasing at the world’s most popular decentralized exchange, Uniswap, while Ethereum transaction costs rise once more.
Hayden Adams, the founder of Uniswap, tweeted on Tuesday that daily volume across v3 deployments of the decentralized exchange on layer-two networks had reached new highs. Without citing a source, Adams stated that Uniswap v3 transacted an unprecedented $115 million in total daily traffic over the Arbitrum and Optimism networks.
While Adams’ article was released during peak trading hours in the United States, data from analytics firm Nomics at the time of writing (3:00 a.m. UTC) shows that Uniswap v3 drove $80 million in volume on Arbitrum and about $14 million on Optimism in the previous 24 hours.
Uniswap’s v3 combined layer-two volumes, on the other hand, are insignificant in comparison to its main net deployment, which, according to CoinGecko, now represents $1.3 billion in daily activity.
Despite the Ethereum Foundation’s and Andressen Horowitz’s support for Optimism, Arbitrum looks to be the decentralized financial community’s preferred second-layer rollups option.
Since its main net debut in early September, Aribtrum has accounted for 60% of the total value locked (TVL) across all layer-two networks, according to layer-two data aggregator L2beat. Arbitron’s TVL presently stands at $2.29 billion, up 14% in the last week.
With $838 million, or 22% of the sector’s value locked up, decentralized derivatives exchange dYdX comes in second after Arbitron. Optimism, on the other hand, has only attracted $269 million in locked money, ranking as the third-largest layer two with a 7% share of TVL. On Sunday, the aggregate TVL of layer-two networks hit a new high of $3.8 billion.