Major decentralized exchange Uniswap today said it collects some user data, such as traders’ device type or browser—but no personal data.
The decentralized exchange (DEX) said in a Monday blog post that “transparency was key” and that it collected certain off-chain and on-chain data to improve user experience.
On-chain data is public information that occurs on the blockchain. This includes things like purchases, transactions, wallet transfers, and interactions with smart contracts. Off-chain data is external to a blockchain, such as a user’s device type and operating system, but can nevertheless be linked to a wallet and its activity.
“Our first priority is to protect user data and privacy, but we do want to make data-driven decisions that improve user experience,” Monday’s blog post from Uniswap Labs read.
“That includes public on-chain data and limited off-chain data like device type, browser version, etc. Because Uniswap Labs does not collect personal data, any vendors we work with do not have any personal data either.”
Uniswap’s post noted that it does not collect users’ personal data—such as names, addresses, emails or IP addresses. It added that it also “does not share your data with any third parties for marketing purposes.”
The DEX’s updated privacy policy said that it collects certain data to improve its services, stop illicit activity, and solve security issues such as bugs. And such data would also be helpful to regulators to “comply with applicable laws and regulations,” it read. Uniswap Labs did not immediately respond to Decrypt's request for comment.
Uniswap is a popular app built on Ethereum that allows anyone to swap Ethereum-based tokens. It is different to centralized exchanges like Coinbase because anyone can use Uniswap without a sign-up process and there is no token “listing” procedure, meaning tokens are traded without any prior authorization from a centralized third party.
Uniswap is the biggest DEX by 24-hour volume, with over $1 billion in tokens traded in the past day, according to CoinGecko.