Uniswap Debuts a Web Extension for its Native Wallet: Details

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Uniswap, the decentralized exchange (DEX), is set to enhance its user experience by launching a web extension for its native wallet, according to an announcement made on February 27. Users who have claimed a uni.eth username can now join a waitlist for early access to the Uniswap Extension Beta.

As reported earlier by TheCoinRise, the DEX made waves in the digital asset sector after introducing the ‘uni.eth’ subdomains through the Ethereum Name Service (ENS) infrastructure.

New Web Extension from Uniswap

The rollout will prioritize users based on their uni.eth username claims, ensuring a systematic distribution of access. Similar to popular self-custody wallets like MetaMask, the Uniswap Wallet extension empowers users to seamlessly perform functions such as sending, receiving, buying, and swapping various tokens and altcoins directly from their web browsers.

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The uni.eth domain, utilizing the Ethereum Name Service, allows users to convert their 0x addresses into usernames. The popularity of this feature is evident, with over 100,000 uni.eth subdomains already claimed by users as of February 25.

UNI Token Surges

The Uniswap token has experienced a significant surge of over 80% in value in the past month, fueled by a proposal advocating for protocol fee rewards for users. The proposal, put forth by Uniswap Foundation’s governance lead, Erin Koen, aims to reward UNI holders who stake and delegate their tokens. 

Koen emphasized in a follow-up post on February 27 that the proposed upgrade seeks to maintain the immutability of the Uniswap DEX, enhance security, and preserve the platform’s ability to experiment in the future.

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Benefits of Immutability

Koen highlighted the benefits of immutability, noting that it reduces the risk of bugs being introduced during protocol upgrades, thereby safeguarding user funds from potential hacking incidents. The developer acknowledged the tradeoffs associated with this approach but emphasized that removing certain features optimizes for the future security of stakers.

Ongoing discussions surround the proposed upgrade, showcasing Uniswap’s commitment to involving its community in the decision-making process. Notably, Uniswap is gearing up to launch its V4 DEX in Q3 2024, aligning with a major Ethereum upgrade.

New Marketplace Aggregator by Uniswap

Uniswap recently introduced a non-fungible token (NFT) marketplace aggregator that will allow customers to buy and sell digital collectibles on other platforms, such as OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation, and NFT20.

The platform boasts that its new open-sourced Universal Router agreement can save customers 15% on gas costs when compared to competing NFT aggregators.

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