Uniswap Introduces New Tools To Enhance Decentralized Swapping Experience

Feb. 28, 2024
Uniswap Introduces New Tools To Enhance Decentralized Swapping Experience

Uniswap Labs has announced three new tools to simplify the swapping experience within their platform and bring simplicity to decentralized exchanges. These new releases include a Uniswap extension tool, a function for limiting orders on its web app, and a new data and insights web page.

Seamless Swapping: Introducing the Uniswap’s Extension Tools

According to DeFiLlama, Uniswap, the largest decentralized exchange (DEX)) by total value locked (TVL), boasts $3.044 billion in TVL. Speaking about the move, Callil Capuozzo, vice-president of design at Uniswap Labs, said, It has already been in development for a while. The idea with this add-on was to make Uniswap a full-fledged, one-stop-shop DEX.

The construction of Uniswap’s extension tool is user-friendly, considering that even the crossing over of tabs or pages does not take it off the browser’s sidebar. Besides such features, it has also allowed Uniswap to be unbeatable and easy for mobile compatibility to those willing to sync with Uniswap’s wallet application.

Now, rather than having to import different wallets one by one, with multiple complex recovery phrases, to utilize the extension tool for each of these different wallets, Uniswap’s wallet app users can import their addresses onto the extension by scanning only one QR code.

Currently, the option to join a waitlist and get early access exists during the beta testing of the extension. Upon listing, users access the limit orders feature and a data analytics dashboard.

Empowering Users: Limit Orders & Real-Time Insights

The limit order function is accessible on the Uniswap UI front end. Users can use this feature to place limit orders for any token listed on Uniswap. This means a user can have a set price they want their swap to execute at. The swap proceeds if the token market hits a set limit in the allocated time; otherwise, it’s void.

Capuozzo emphasized that the inclusion of limit orders would surpass user expectations. Building on Uniswap X, last year’s aggregate protocol from Uniswap’s Labs, enables the realization of this advancement.

The data and insights page offers users a valuable tool for navigating new tokens. It provides real-time data and information, enhancing their overall token exploration experience. Capuozzo remains optimistic that bringing in such tools will help smooth out the process of onboarding onto Uniswap.

“We’re providing tools to enhance and further deepen the way people swap on Uniswap,” Capuozzo said.

Moreover, Decentralized exchanges present a significant challenge. Uniswap, poised to impact the sector substantially, has innovative changes and user-friendly designs.

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Rida Fatima

News writer
An ardent wordsmith with a rich five-year background in delving into the realms of finance and cryptocurrencies. Alongside curating captivating blogs, Unique's talents extend to crafting imaginative and engaging content.