Uniswap To Collect Public On-Chain And Off-Chain Data
A few months before, Uniswap had blocked 253 crypto addresses associated with the infamous crypto tumbler Tornado Cash.
The creator of Uniswap Protocol, Uniswap Labs, has published its privacy policy to be upfront about the data it protects and the information it gathers.
The team stated that it does not maintain user accounts and does not collect or retain personal information such as first and last name, street address, date of birth, email address, or IP address. However, under some circumstances, Uniswap may share or reveal the information it gathers.
Unsiwap’s Privacy Statement
According to a blog post published on its website, Uniswap collects public on-chain data and restricted off-chain data, such as device type and browser version, to improve user experience. However, the DEX clarified that it does not gather personal data, nor do the businesses with whom it collaborates.
Additionally, it reassured the community that it does not share user information with other parties for marketing reasons.
“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 improving our privacy and security practices.”
The DEX further disclosed that it might share the acquired data with its service providers and partners to help them create, deliver, and enhance the services.
In addition to investigating and halting fraudulent, unauthorised, or unlawful acts on its platform, the same applies to litigation, regulatory procedures, compliance measures, and when forced by subpoena, court order, or other legal action. Uniswap may also disclose data if it thinks it essential to avoid damage to its users, the firm, or third parties and to enforce its rules and agreements.
According to its privacy policy, this may also occur in the case of a merger, acquisition, bankruptcy, dissolution, reorganisation, asset or stock sale, or other business transaction.
Throughout 2022, Uniswap’s Dominance
Uniswap has more volume on ETH than any centralized exchange last 24 hours?
The abrupt and catastrophic collapse of FTX has caused many traders to abandon centralised exchanges. Consequently, Unsiwap became the second-largest Ethereum trading platform in the world. On November 15, the DEX leader stood barely behind Binance.
According to statistics from Dune Analytics, Uniswap dominated 60.2% of the DEX market last week, with a trading volume of approximately $6.5 billion.
In October, Uniswap secured $165 million in Series B fundraising led by Polychain Capital, bringing the company’s value to $1.66 billion. Existing investors such as a16z crypto, Paradigm, SV Angel, and Variant participated.
Meanwhile, a more recent assessment shows that 98% of all projects mentioned in the protocol between 2018 and 2021 were rug pulls. The research, which generated substantial controversy, accused Uniswap’s “simplicity and lack of regulation” of allowing malevolent actors to conduct initial coin offering (ICO) frauds efficiently by putting non-valuable tokens on the site.
