Uniswap releases new tools for swappers
Uniswap aims to become a “complete platform for swapping” following its latest product releases
ARTEMENKO VALENTYN/Shutterstock modified by Blockworks
Uniswap Labs has announced three additional new products designed to make swapping on the decentralized exchange more simple.
These new releases include a Uniswap extension tool, a function for limit orders on its web app and a new data and insights web page.
Uniswap is currently the largest decentralized exchange (DEX) by total value locked (TVL), according to DeFiLlama. Uniswap v3, for example, boasts a TVL of $3.044 billion.
In an interview with Blockworks, Callil Capuozzo, the VP of design at Uniswap Labs, said that the extension tool has been in the works for a while and will help the DEX become a more “complete platform for swapping.”
Read more: It’s all about the swaps. Why order flow auctions make DEXs better
The Uniswap extension tool lives on a user’s browser sidebar, which can be easily accessed even when switching between multiple tabs or pages.
Similar to regular extensions, users can custody their assets across different chains. However, Capuozzo says that the latest extension is unique because users can connect to the tool through their mobile devices.
This means that, rather than individually having to import different wallets and enter complex recovery phases to use the extension tool, users who have the Uniswap wallet app will be able to import their addresses onto the extension by scanning a QR code.
The extension tool is still currently in its beta testing phase, and users interested in the product must join a waitlist to gain access to the tool.
Limit orders and the data analytics dashboard, however, will be made available to users immediately.
The limit order function can be accessed on the front end of the Uniswap UI. It will enable users to place a limit order for any token available on Uniswap, which means that users can set a price on what they want their swap to execute at. If the market for that particular token reaches a specific price within a set time frame, the swap will execute, but if the set price is not reached, then the swap will not execute.
Read more: Uniswap token pumps following governance fee switch proposal
“[Limit orders] is something that people expect from trading platforms, and it is now possible because we’re building on top of Uniswap X,” Capuozzo said, referring to the aggregate protocol Uniswap Labs released last year.
The data and insights webpage is designed to allow users to discover new tokens and also view real-time data and information on individual tokens.
With these tools, Capuozzo hopes that the onboarding process onto Uniswap becomes more simple.
“We’re providing tools to enhance and further deepen the way that people swap on Uniswap,” Capuozzo said.
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