Uniswap will collect public on-chain data, limited off-chain data

Uniswap will collect public on-chain data, limited off-chain data

Uniswap Labs – the developer of Uniswap Protocol – has released its privacy policy to be transparent about what data it protects and how it uses the information it collects.

The team clarified that it does not track user accounts and does not collect and store any personal information such as first name, last name, address, date of birth, email address or IP address. However, there are certain conditions under which Uniswap may share or disclose the collected data.

Unsiwap Privacy Policy

According to the blog post published on its site, Uniswap accumulates public on-chain data and limited off-chain data such as device type and browser version, among others, citing data-driven decisions to improve user experience. However, the DEX explained that it doesn’t collect any personal data, and none of the vendors it partners with have any.

It further assured the community that it does not share user data with third parties for marketing purposes.

“First of all, we do not collect and store any personal information, such as first name, last name, address, date of birth, email address or IP address. We are committed to making iterative improvements to our privacy and security practices.”

The DEX further revealed that it could use the collected data with its service providers and vendors to help them offer, deliver and improve the services.

The same applies to litigation, regulatory proceedings, compliance actions and when compelled by a subpoena, court order or other legal process in addition to investigating and stopping any fraudulent, unauthorized or illegal activity on its platform. Uniswap may also share information as it deems necessary to prevent harm to its users, business or others and to enforce its agreements and policies.

Such a scenario may also arise in the event of a merger, acquisition, bankruptcy, dissolution, reorganization, sale of assets or stock, or other corporate transaction, according to the Privacy Policy.

Uniswap’s dominance: throughout 2022

The sudden and catastrophic implosion of FTX has prompted many traders to flee centralized exchanges. As a result, Unsiwap moved on become the world’s second largest trading platform for Ethereum. The DEX leader was just behind Binance on November 15.

Uniswap had more than $6.5 billion in trading volume last week and dominated 60.2% of the DEX market, according to data from Dune Analytics.

In October, Uniswap raised $165 million in Series B funding led by Polychain Capital, bringing its valuation to $1.66 billion. The round also saw the participation of existing lenders – a16z crypto, Paradigm, SV Angel and Variant.

Meanwhile, a more recent report claimed that 98% of all projects listed on the protocol between 2018 and 2021 were carpet tractors. The study, which was significantly received recoilblamed Uniswap’s “simplicity and lack of regulation” for enabling malicious actors to efficiently run initial coin offering (ICO) scams by placing non-valuable tokens on the platform.

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