Skip to content
Home » Uniswap New Privacy Policy Says It Collects On-Chain Data On User Crypto Wallets

Uniswap New Privacy Policy Says It Collects On-Chain Data On User Crypto Wallets

  • Crypto

The largest Ethereum decentralised exchange, Uniswap, has announced a new privacy policy to increase transparency about the data it collects. According to the privacy policy, the DEX collects certain on-chain and off-chain data related to users’ crypto wallets.

It clarified that publicly available on-chain data is reviewed to aid in decision-making. In terms of off-chain data, Uniswap claims it does not collect sensitive personal data such as names, emails, or IP addresses. Other off-chain web identifiers relating to users’ activities on the front end website, however, are still scraped, according to the exchange.

“Our top objective is to safeguard user data and privacy, but we also want to make data-driven decisions that improve the user experience. This includes both public on-chain data and limited off-chain data such as device type, browser version, and so on “According to Uniswap.

According to the privacy policy, the decentralised exchange and other “third-party service providers” may collect data linked to users’ mobile deviceID, cookies, local Storage information, operating system, device, or browser language. According to Uniswap, such data may be used to remember which tokens users have imported as well as learn about their preferences and interactions.

Furthermore, the decentralised exchange revealed that it filters user wallets with the assistance of some blockchain analytics firms in order to detect illegal behaviour. This comes after the exchange, in working with blockchain analytics firm TRM Labs, blacklisted 253 crypto addresses associated with the mixing service Tornado Cash a few months ago.

“When you link your non-custodial blockchain wallet to the Services, we capture and log your publicly-available blockchain address in order to learn more about your use of the Services & screen your wallet for any prior unlawful activity,” according to the privacy policy.

On the Ethereum blockchain, Uniswap is the decentralised exchange with the most volume. Uniswap has been responsible for almost 60% of Ethereum’s on-chain volume so far in November.

Uniswap Labs, the Uniswap creators, raised $165 million in a Series B financing last month at a $1.6 billion value.

Leave a Reply

Your email address will not be published. Required fields are marked *