It clarified that publicly-available on-chain data is analyzed to help make informed decisions. As far as off-chain data goes, Uniswap claimed it does not gather sensitive personal data like names, emails or IP addresses. However, other off-chain web identifiers related to users’ activity on front end website are still scraped, the exchange noted.
“Our first priority is to protect user data and privacy, but we do want to make data-driven decisions that improve user experience. That includes public on-chain data and limited off-chain data like device type, browser version, etc.,” Uniswap said.
Furthermore, the decentralized exchange confirmed that it screens user wallets with the help of certain blockchain analytics providers to help identify illicit activity. This comes a few months after the exchange — working with blockchain analytics firm TRM Labs — blocked 253 crypto addresses tied to mixing service Tornado Cash.
Uniswap is the highest-volume decentralized exchange on the Ethereum blockchain. So far in November, Uniswap has accounted for roughly 60% of Ethereum’s on-chain volume, according to data from The Block.
Uniswap Labs, the developers of Uniswap, raised $165 million in a Series B round at a $1.6 billion valuation last month.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.