Uniswap enters bridge assessment process, thanks to this committee

ambcrypto.com:

Uniswap is making moves aimed at improving bridge security. Many of the crypto thefts that have taken place in the past involved cross-chain bridges, which is why Uniswap’s latest move is important.

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The announcement made through Uniswap’s governance forum revealed the creation of a Bridge Assessment Committee.

The selected committee members will commence work immediately. According to the announcement, they will start by offering short-term recommendations for how Uniswap should approach bridges.

The assessment committee will be tasked with evaluating bridges to ensure a high level of security. This is part of Uniswap’s efforts to boost bridge security. These efforts are part of the measures that Uniswap is implementing in an effort to boost its long-term efficiency and appeal.

The decentralized exchange is also winning in other areas. For example, its native token UNI is currently the leading DEX token by market capitalization.

The latest ranking revealed a strong lead with a $4.7 billion market cap, while Synthetix was the runner-up with an $841 million market cap.

Decentralized exchanges, or DEXs, allow users to trade with one another in a permission less manner and without any intermediaries. $UNI $CAKE $SNX $OSMO $CRV $RUNE #1INCH $LRC $GNO $DYDX pic.twitter.com/pQYpxhIiEd

— Ben GCrypto (@GCryptoBen) March 3, 2023

UNI bears have been dominant since the last week of February and have maintained that trajectory despite a bullish attempt at the start of March.

UNI traded at $6.23 at press time, after tanking by 18% from its February peak. However, this pullback puts it