Uniswap, the decentralized exchange (DEX), is set to expand its services with the launch of a web extension for its native wallet. In an announcement on Feb. 27, the DEX introduced a waitlist for users with claimed uni.eth usernames, offering access to the Uniswap Extension Beta in the order of username claims.
Web wallet Extension Features
Similar to existing self-custody wallets like MetaMask, the Uniswap Wallet extension will empower users to perform various transactions directly from their web browsers. This includes sending, receiving, buying, and swapping a variety of tokens and altcoins.
The uni.eth domain, based on the Ethereum Name Service (ENS), plays a crucial role. It enables users to convert their 0x addresses into usernames. Notably, over 100,000 uni.eth subdomains had been claimed as of February 25, underscoring the community’s enthusiasm for this functionality.
Uniswap Token Surge and Governance Proposal
In the past month, the value of Uniswap’s token has soared by over 80%, fueled by a proposal suggesting protocol fee rewards for users. The proposal, presented by its Foundation’s governance lead, Erin Koen, aims to reward UNI holders who stake and delegate their tokens.
In a follow-up post on Feb. 27, Koen emphasized that the proposed upgrade seeks to maintain the immutability of the UNI DEX. Additionally, it aims to optimize security and preserve the platform’s ability to experiment in the future. Koen stated, “An additional benefit we get from immutability is removing the risk of bugs being introduced, and user funds being hacked in the future.”
Discussions surrounding the proposal are ongoing, reflecting the community’s active engagement in shaping Uniswap’s future. It’s noteworthy that they plan to launch its V4 DEX in Q3 2024, aligning with a major Ethereum upgrade.
As they continues to evolve and expand its offerings, the integration of a web extension for its wallet and the ongoing governance discussions signal a dynamic period for the decentralized exchange. The surge in the token’s value and the proposed protocol upgrades underscore the community’s confidence in Uniswap’s role in the evolving landscape of decentralized finance (DeFi).