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Uniswap to Collect Public On-Chain Data, Limited Off-Chain Data

Uniswap Labs – the developer of Uniswap Protocol – released its privacy policy to be transparent about what data it is protecting and how it uses the information it collects.

The team clarified that it does not maintain user accounts nor collect and store personal information such as – first name, last name, street address, date of birth, email address, or IP address. However, there are certain conditions under which Uniswap may share or disclose the data it collects.

Unsiwap’s Privacy Policy

According to the blog post published on its site, Uniswap piles up public on-chain data and limited off-chain data such as device type and browser version, among others, citing data-driven decisions to enhance user experience. However, the DEX explained that it does not collect personal data, and any vendors that it works with do not have any either.

It further assured the community that it does not share user data with any third parties for marketing purposes.

“First and foremost, we do not collect and store personal data, such as first name, last name, street address, date of birth, email address, or IP address. We are committed to making iterative improvements to our privacy and security practices.”

The DEX further revealed that it might use the collected data with its service providers and vendors to assist them in the offering, delivering, and improving the services.

The same applies to litigation, regulatory proceedings, compliance measures, and when compelled by subpoena, court order, or other legal procedure in addition to investigation and stopping fraudulent, unauthorized, or illegal activities on its platform. Uniswap may also share data if it deems necessary to prevent harm to its users, company, or others and to enforce its agreements and policies.

Such as scenario may also arise in an event of a merger, acquisition, bankruptcy, dissolution, reorganization, asset or stock sale, or other business transaction, according to its privacy policy.

Uniswap’s Dominance: Throughout 2022

FTX’s sudden and catastrophic implosion has prompted many traders to flee centralized exchanges. As a result, Unsiwap went on to become the world’s second-largest venue for trading Ethereum. The DEX leader stood just behind Binance on November 15.

According to data from Dune Analytics, Uniswap held more than $6.5 billion in trading volume over the past week dominating 60.2% of the DEX market.

In October, Uniswap raised $165 million in Series B funding led by Polychain Capital, taking its valuation to $1.66 billion. The round also saw the participation of existing backers – a16z crypto, Paradigm, SV Angel, and Variant.

Meanwhile, a more recent report claimed that 98% of all the projects listed on the protocol between 2018 and 2021 were rug pulls. The study, which received significant backlash, blamed Uniswap’s “simplicity and lack of regulation” for enabling malicious actors to efficiently carry out initial coin offering (ICO) scams by listing non-valuable tokens on the platform.

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