Uniswap Launches Web Extension Wallet Amid an 80% Surge in UNI Token Value
Summary:
Decentralized exchange Uniswap is developing a web extension for its in-house wallet. With a launched waitlist for users with uni.eth usernames, the extension will enable token transactions directly from the web browser, similar to wallets like MetaMask. The uni.eth subdomain, created by Ethereum Name Service, has over 100,000 claims, while Uniswap's token value skyrocketed 80% recently due to a protocol fee reward proposal. The proposal, under discussion, anticipates the launch of Uniswap's fourth version in Q3 2024 after a significant Ethereum upgrade.
Uniswap, a decentralized exchange (DEX), is set to release a web extension for its built-in wallet. On February 27, the company announced the creation of a waitlist for users with a uni.eth username claim, stating that access to the Uniswap Extension Beta would be granted according to the order of these claims. Just like popular self-storage wallets such as MetaMask, Uniswap’s wallet extension provides users with the ability to conduct transactions, including sending, receiving, and swapping various tokens and altcoins, directly via their web browsers. Initially, Uniswap's Extension will be featured in the web browser's sidebar, eliminating the need for pop-ups and transaction windows.
The uni.eth domain, powered by the Ethereum Name Service, permits users to turn their 0x addresses into usernames. As of February 25, more than 100,000 uni.eth subdomains have been claimed. Recent weeks have seen a significant surge in the value of the DEX's namesake token, rising by more than 80% following a proposed protocol fee reward for users. The proposed amendment, put forward by Erin Koen, Uniswap Foundation's governance lead, would reward UNI token holders who have staked and delegated their tokens.
On February 27, Koen elaborated on the proposal, stating that it emphasized the unchangeability of the Uniswap DEX, assured security, and reserved the platform's ability to innovate in the future. She discussed the security advantages of unchanging protocols, citing the removal of the risk of introducing bugs and the potential hacking of user funds. The proposal is currently under discussion. Recently, it was reported that Uniswap's fourth version decentralized exchange will be launched in Q3 2024, following a significant Ethereum upgrade.
Published At
2/27/2024 9:11:11 PM
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