Unichain appears to be more of a general-purpose Layer 2 than a specialized App-chain, lacking optimizations tailored for specific use cases like Hyperliquid's market maker prioritization. Its launch suggests Uniswap's expansion into L2s as a new business line rather than enhancing its core DEX features, with value potentially captured through gas and sequencing fees. However, near-term adoption faces hurdles, as Unichain lacks distinctive features to attract users and cannot use traditional liquidity incentives. While markets might factor in potential value for UNI if Unichain gains traction, risks include pre-priced expectations or a shift away from the anticipated DEX fee switch, potentially lowering UNI's valuation as it transitions toward being viewed primarily as an L2 token.
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