Uniswap Reports That They Collect Certain Customer Data

source: unsplash

Uniswap Labs, the company behind the Uniswap exchange, said in a privacy policy update that it collects certain on-chain and off-chain data from customers as part of its product improvement initiatives. 

The decentralized exchange (DEX) explained that “transparency was key,” and certain data like device type, browser version, etc., are collected on a continuous basis. 

However, the company doesn’t use any of these data for marketing purposes. 

“Our first priority is to protect user data and privacy, but we do want to make data-driven decisions that improve user experience. Because Uniswap Labs does not collect personal data, any vendors we work with do not have any personal data either,” wrote the company in a blog post

Uniswap further clarified that its committed to the ethos of web3, which aims to “reclaim” users’ privacy and choice after decades of abuse by traditional internet businesses.  

Therefore, it doesn’t collect any personal data, such as “first name, last name, street address, date of birth, email address, or IP address.”

Uniswap reverse proxy server

The DEX also said that it continues to work on improvements related to user privacy and security. It recently introduced a reverse proxy server that sits between any third-party tool and users’ devices, preventing the tool from extracting any personal information from users. 

In October, Uniswap Labs raised $165 million at a $1.66 billion valuation in a Series B funding round led by Polychain Capital that also saw participation from Paradigm, a16z crypto, SV Angel, and Variant.

The platform remains the biggest decentralized exchange in terms of market cap and trading volumes, processing nearly $1 billion worth of transactions in a single day, according to Coingecko data

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Himan Mohapatra
Himan Mohapatra
Himan Mohapatra is an industry expert within the crypto-sphere and the primary journalist for Coinmash. He is an expert in finance and disruptive tech, such as blockchain.