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- Uniswap launches a mobile wallet with exciting features for its users.
- Grants Gauntlet for enhancing the incentive mechanism on DAOs.
As per April 13 press release, DeFi exchange Uniswap recently launched a mobile wallet application facilitating multiple options. The application is supposed to promote DeFi wallet adoption, on-the-go trading, and fund swapping between listed protocols.
The Multifunctional DeFi Mobile Wallet
The Uniswap wallet would allow crypto buying in exchange for a competitive 2.55% fiat on-ramp fee. The wallet users could also swap their funds on well-known DeFi platforms like Polygon, Optimism, and Arbitrum. The main feature includes in-app token prices and NFT data analysis. This would allow users to track the activity necessary to them.
The application’s creators feel these features can encourage users to keep their crypto assets in custody with DeFi wallets. They inherently provide a higher barrier than multiple centralized applications for buying and storing cryptocurrencies.
Uniswap said that most people do not enter because of the complexity of using a crypto wallet. The exchange gets numerous requests on the Uniswap Web App, where users ask questions regarding self-custody wallets. Hence, they seemed proud to launch a simple, safe, easy-to-use self-custodial wallet.
Early access TestFlight is available on the iOS App Store, with Apple arguing that they approved Uniswap mobile wallet in multiple countries. Still, the list is yet to be revealed. Notably, the possible availability date on Google Play is also kept secret.
The Uniswap mobile wallet provides multiple features:
- Faultless swapping between Mainnet, Arbitrum, Polygon, and Optimism.
- Users can easily find the top market tokens concerning market cap, volume, and price chart,
- It helps in making trading decisions.
Using the WalletConnect feature, users can connect to any app on Mainnet or L2 and explore NFT marketplaces. The wallet would allow buying crypto using fiat currencies and ask for low fees of 2.55% compared to 5% on other wallets.
When writing, the total value locked (TVL) at Uniswap was $4.41 Billion, with the chain broken down between Ethereum, Arbitrum, Optimism, Polygon, Celo, and BSC.
UniSwap provides Grant to Gauntlet
The Uniswap Foundation has provided a grant to Gauntlet, a financial modeling platform focused on managing crypto market risks, on enhancing the incentive mechanism of Decentralized Autonomous Organizations (DAOs).
Gauntlet will now form Gauntlet Applied Research which will be dedicated to solving the challenges faced by the rapidly expanding DAOs. They use an economic model for fee optimization and rewards in various DeFi protocols.
Three research outputs will be provided to UniswapDAO by Gauntlet.
- The first one is to create a quantitative framework, which DAO can use to fully assess the Uniswap protocol’s effectiveness.
- The second would analyze traders’ and liquidity providers’ behavior to evaluate the situation better.
- Thirdly Gauntlet is supposed to provide a minimum of three proposals for Uniswaps incentive mechanism, enabling DAO to reach desired objectives.
They are aiming to complete and deliver all three features by June 2023.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
