Uniswap, a decentralized finance (DeFi) exchange, recently introduced a mobile wallet app for Android users, following its earlier launch on iOS in April.
After unveiling the iOS version, Uniswap experienced a surge in downloads, securing a spot among the top three wallets for new downloads, as per an official announcement by the exchange.
“WEN ANDROID?” How about now? 🔥🔥🔥
🫳
🎤The Uniswap wallet is coming to Android users 🌐
The beta is LIVE — sign up here to get early access ✅https://t.co/9OHhpSqbez pic.twitter.com/vXsn2NS5Sx
— Uniswap Labs 🦄 (@Uniswap) October 12, 2023
The Android app, currently in beta, allows users to seamlessly switch between various blockchains. Uniswap has called upon members of the DeFi community to assist in testing this beta version before rolling out a wider release, expected to happen before the year’s end, as confirmed by Bridgett Frey, a spokesperson from Uniswap Labs, in an interview with Decrypt.
In their words, “Over the past few months, we’ve meticulously adapted the Uniswap wallet to Android to match the same swapping experience that millions have on Uniswap.”
35,000+ on the waitlist in just 5 hours. Intern has work to do 🤯 https://t.co/jUCX4b1iOh
— Uniswap Labs 🦄 (@Uniswap) October 12, 2023
Evidently, the response has been overwhelming, with over 35,000 users signing up for the waitlist in a mere 5 hours, as reported on Uniswap’s official Twitter account.
Key Features of the Android Application
Uniswap’s Android application boasts several features that the company believes set it apart in the realm of swapping. These features include rapid token swapping, the discovery of top tokens, and automatic transitions between mainnets, such as Ethereum and Layer 2 (L2).
The wallet emphasized the importance of facilitating transactions on chains with lower costs and faster speeds, stating, “The next wave of user adoption will happen on chains with cheaper and faster transactions. That’s why we’ve made it dead simple to swap on L2s.”
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Initially, users can swap tokens between Polygon, Arbitrum, Optimism, Base, and BNBChain, with plans to integrate more chains in the near future. Furthermore, Uniswap Labs, the team behind Uniswap, has implemented “swap protection” to safeguard on-chain swaps within the wallet, thus mitigating potential DeFi exploits like sandwich and frontrunning attacks.
Ensuring security and transparency
A sandwich attack occurs when a malicious trader exploits pending transactions on the network, positioning themselves between two swaps to turn a profit. Frontrunning attacks involve manipulating pending transactions by injecting additional trades to secure a profit. To enhance transparency, Uniswap also commits to displaying hidden gas prices upfront to users.
Uniswap’s dominance in DeFi
In the realm of decentralized exchanges, Uniswap stands as a giant, holding the title of the largest decentralized exchange in terms of cumulative trading volume. To date, the platform has processed over $1.7 trillion worth of trades, as per data from DefiLlama.
