Decentralized finance (DeFi) exchange Uniswap has launched a mobile wallet application for Android users on Thursday, after launching on iOS in April.
Following the iOS launch, Uniswap saw an influx of downloads and became the top three wallet for new downloads, the exchange said in an official announcement.
The Android application is a beta version, enabling users to switch between different blockchains. The platform invited members of the DeFi community to help test the beta version of the wallet, before launching it wide-scale. The broader release is expected to launch before the end of this year, Uniswap Labs spokesperson Bridgett Frey, told Decrypt.
“Over the past few months, we’ve meticulously adapted the Uniswap wallet to Android to match the same swapping experience that millions have on Uniswap.”
According to Uniswap’s X post (Twitter), more than 35,000 users have signed up to the waitlist in just 5 hours.
What Makes it “a Great Swap”
The Android application comes with a set of features which the company says “makes a great swap.” For instance, the company has promised swapping in a fraction of a second, discovering top tokens and automatic switching between mainnets like Ethereum and layer 2 (L2), among others.
“The next wave of user adoption will happen on chains with cheaper and faster transactions. That’s why we’ve made it dead simple to swap on L2s,” thw wallet explained.
Users will initially be able to swap tokens between Polygon, Arbitrum, Optimism, Base and BNBChain, with more chains to be integrated soon, the company wrote.
Further, Uniswap Labs, the team behind Uniswap said that on-chain swaps on the wallet will be protected using “swap protection” in order to avoid DeFi exploits such as sandwich and frontrunning attacks.
In case of a sandwich attack, a nefarious trader looks for a pending transaction on the network such as Ethereum and sandwiching occurs in between two swaps to make a profit, while frontrunning attack occurs when an attacker manipulates pending transaction, injecting additional trades to make a profit.
The company also promised transparent fees, which means showing hidden gas prices upfront.
According to DefiLlama data, Uniswap stands the largest decentralized exchange by cumulative volume. The platform has processed more than $1.7 trillion worth trades so far.
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