Uniswap Expands Its Reach with Multiple New Products and Features

Uniswap, a top decentralized exchange, is actively working to attract a broader audience. Traditionally aimed at those already familiar with cryptocurrency, the platform is now developing products to appeal to novices in the crypto world. This move is part of its strategy to become a one-stop shop for all crypto users.

A key development in this strategy is the launch of the Uniswap Self-Custody Mobile Wallet. This tool is essential for those navigating the Web3 space and puts Uniswap in competition with established players like MetaMask, Coinbase Wallet, and Trust Wallet. Available for both iOS and Android, the wallet allows users to store and trade crypto tokens, access DeFi apps, and enjoy multiple other features.

In parallel, it has recently started rolling out the Uniswap Chrome browser extension, entering another comfort zone of MetaMask and similar wallets. Besides wallet service, the extension will offer functionalities similar to its web interface, including limit orders and charts, both of which are handy for traders.

Within its web application, Uniswap has integrated Moonpay fiat-to-crypto service, allowing users to buy assets using debit/credit cards or bank transfers. This feature requires users to complete Moonpay’s know-your-customer and anti-money laundering procedures. Notably, Uniswap Labs does not hold onto any financial or identity information from Moonpay users. This integration serves as an effective on/off ramp for Uniswap’s users, broadening the exchange’s offerings.

Uniswap is also focused on improving the trading experience by expanding its set of tools. It recently started rolling out its Chrome browser extension that offers functionalities similar to its web interface, including limit orders and charts, both of which are handy for traders.

In both mobile and browser wallets, Uniswap is offering convenient sign ups via uni.eth ENS usernames, streamlining further the user experience.

Uniswap’s dedication to innovation is reflected in its growing user base, which is one of the largest among DeFi apps. Its Multichain users recently hit over 3.2 million, demonstrating a strong market fit. 

In April, the exchange surpassed a total trading volume of $2 trillion, as reported by a Dune Analytics dashboard. Initially launched on Ethereum, the exchange has expanded its reach to include other popular blockchain networks such as Base, Polygon, Optimism, Celo, BNB Chain, Arbitrum, Blast, and the Avalanche Network. This expansion has significantly contributed to achieving such impressive trading volumes.

Further developments are anticipated, given the robust financial resources of the Uniswap DAO, which holds approximately $5 billion in funds. Currently, the DAO is considering a proposal to create an advisory committee aimed at diversifying its treasury and expanding beyond UNI holdings.

It's important to note that despite these impressive developments, Uniswap faces regulatory challenges from the SEC, which has issued a Wells notice to Uniswap Labs. A Wells notice is essentially a preliminary step before potential legal action. However, some crypto legal experts believe the SEC has a low likelihood of prevailing against Uniswap.