Uniswap Launches Simple and Safe Self-Custodial Mobile Wallet for DeFi Trading

By 0xGorki 03/4/23 6:11 AM

Uniswap, the most trusted name in DeFi, announced on March 3 that it is launching a self-custodial mobile wallet for iOS. The company aims to simplify the process of creating a self-custody wallet, which is a fundamental tenet of decentralized finance (DeFi) that ensures that users’ crypto cannot be misused by a centralized party.

According to Uniswap, thousands of support tickets from its Web App users boil down to confusion about self-custody wallets. To address this issue, the company has developed a self-custodial wallet that is simple, safe, and easy to use.

1/ Introducing the Uniswap mobile wallet 🦄✨

A completely self-custodial, open-sourced mobile app from the most trusted name in DeFi.

Now available as a limited early release – through Apple TestFlight. pic.twitter.com/NmO8c0bXMs

— Uniswap Labs 🦄 (@Uniswap) March 3, 2023

The Uniswap mobile wallet allows users to trade tokens directly with the most trusted DeFi protocol, seamlessly switch between Mainnet, Polygon, Arbitrum, and Optimism, discover top tokens by market cap, price charts, and volume, and favorite tokens and wallet addresses to stay up to date on trends and activity. Users can also WalletConnect to any app on Mainnet or L2s, back up their seed phrase on iCloud or manually, and get notified when transactions complete on any device with push notifications. Moreover, the wallet is completely open-sourced.

Uniswap’s self-custodial mobile wallet is the easiest way to trade tokens on the go. Users can check price charts, search for any token, and seamlessly swap on L1 or L2 networks without needing to configure or switch networks. When the transaction is complete, users receive a push notification in real-time.

The Uniswap mobile wallet is also the best way to manage a portfolio across Ethereum, Polygon, Arbitrum, and Optimism. Using WalletConnect, users can manage connections to multiple web apps on different networks simultaneously, without switching networks.

To ensure the highest security standard, Uniswap worked with Trail of Bits for the audit. Imported and newly created wallets will have their seed phrases and private keys encrypted and stored on devices using Apple’s secure enclave, which is excluded from device backups. Users can store their seed phrase manually with a paper copy or encrypt and store it on Apple iCloud so that if they lose their phone, their seed phrase is backed up and protected.

Uniswap’s self-custodial mobile wallet is currently in the Testflight phase, with access codes being rolled out across community channels and time zones over the next two weeks, starting at ETHDenver. The company is also working hard to bring the Uniswap wallet to users on other platforms.

In conclusion, Uniswap’s self-custodial mobile wallet is a significant step towards simplifying the process of creating a self-custody wallet for DeFi users. The company’s efforts to ensure the highest security standard are commendable, and the wallet’s features are impressive. DeFi enthusiasts and traders should keep an eye out for Uniswap’s mobile wallet as it rolls out in the coming weeks.

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