UniswapX and UXUY share a common goal but take different paths

In July 2023, UniswapX released a brand new white paper, proposing ambitious ideas for the development of DEX. As the next-generation decentralized trading platform, UXUY, while having a clearly different development path from UniswapX, maintains a high degree of consistency in multiple goals. Both UniswapX and UXUY are trying to expand the trading share of DEX and promote the development of the DeFi ecosystem.

UXUY believes that the introduction of third-party "Fillers" is the most important innovation of UniswapX, embedding a new trading model into the AMM mechanism. Fillers provide a layer of competitive mechanism for UniswapX, allowing on-chain liquidity from external AMM pools or private warehouses to compete with Uniswap v1, v2, v3, and v4, while the Dutch auction mechanism offers traders the best market prices. Fillers break the traditional boundaries between order books and AMMs, forcing industry transformation, further enhancing the competitiveness of DEX, and greatly enriching the foundational liquidity of UXUY.

Common Goals

UXUY is pleasantly surprised to see that the typical features of UniswapX align with the vision of UXUY. Whether in products or protocols, their original intention is a continuous pursuit of decentralization, as Uniswap founder Hayden Adams stated in an interview with Coindesk:

From inception to now, decentralization has always been part of our philosophy. (June 12, 2023) - Hayden Adams

• Gas-free Transactions

Like UXUY, UniswapX has proposed a gas-free setting, allowing traders to enjoy the ultimate trading experience. Essentially, it enables transaction requests to be completed off-chain, while the execution process of Fillers occurs on-chain, meaning traders do not need to engage in on-chain operations or pay gas fees, which is very friendly for users new to the crypto ecosystem.

• Self-custody

Both UniswapX and UXUY adhere to the product principle of self-custody, allowing users to control their private keys without relying on custodial institutions to serve them. Private keys are the most important component of the crypto ecosystem, used to sign and verify transactions on the blockchain, "Your keys, your crypto." UniswapX and UXUY have made the same choice.

• Aggregating Liquidity

Innovations in on-chain trading have led to explosive growth in liquidity, with major trading platforms attempting to expand liquidity, as the user growth it brings is certain. UniswapX and UXUY focus not on building new AMM pools, but rather on the combination of smart order routers + aggregating AMMs, introducing Fillers to compete with major trading protocols, which will provide traders with more competitive prices.

Different Paths

The biggest difference between UXUY and UniswapX lies in their chosen paths. The ecosystem supported by UniswapX is based on Ethereum and the EVM ecosystem, while UXUY places greater emphasis on the introduction and trading of non-EVM ecosystem assets. Currently, the fragmentation of liquidity caused by the disconnection between various ecosystem platforms is detrimental to value discovery, and the era of interconnecting all chains is far from being realized.

UXUY co-founder Jordan presented a set of data, showing that the best-performing crypto assets each year over the past decade have not been on Ethereum and EVM. Even after the birth of Ethereum in 2015, this situation has not changed.

Currently, the largest stablecoin USDT operates on the Tron network, and the most dazzling new asset of 2023, ORDI, operates on the Bitcoin network. In the foreseeable future, more ecosystems will become new narratives, leading the next wave of innovation.

Based on this concept, UXUY officially released the 《UXUY Crypto Equity Manifesto》, calling for support for cross-chain trading of emerging assets. The manifesto states: Trading is the only weapon to break down barriers; only by discarding prejudice and using decentralized means can we achieve crypto equity.

Beyond the Ethereum and EVM ecosystem, UXUY is also committed to promoting the development of Bitcoin's second-layer network. Whether supporting the Lightning Network or .sats domains, UXUY is continuously enriching the diversity of blockchain and building the most unique development path.