Becoming a mainstream platform could be triggered by a very simple innovation, one that the top Decentralized Exchange (DEX), Uniswap (UNI), might have found. Earlier this month, the protocol released its advanced mobile wallet, which it described as a completely self-custodial, open-source mobile app that is accessible as a limited edition through Apple Testflight.
Launching wallets is not an uncommon innovation with Web3.0 companies, although it is relatively new for a decentralized exchange like Uniswap. The outfit has been sharing additional insights into how functional this new wallet has been, and among its core features is its simplicity and versatility.
The cryptocurrency ecosystem is considered a very tough space to get around, and this has generally lowered the barriers to entry for nonnative users. Many crypto proponents have advocated for the creation of products that are largely relatable for ordinary users, and this rare attempt by Uniswap may serve as a major way to transition users.
The ecosystem is still evolving and finding an avenue for custody and transacting almost any asset in the industry is considered a major user-friendly move that can attract users eventually.
Setting new landmark
As popular as they are, DEXes are only accessible through the browsers embedded in a selfcustodial wallet like Metamask and Trust Wallet or on web browsers. The new move by Uniswap to debut its own wallet can serve as a pioneering move for other top players in the field.
It will come as no surprise that if this becomes the new normal, the success of the Uniswap exchange with respect to the adoption and usage of the mobile wallet will go a long way toward shaping related innovation from other top players.
As a pioneer of Automated Market Maker (AMM) technology, Uniswap may yet receive another appraisal for championing the push toward mainstream adoption of DEX platforms.
