Uniswap launches a web plugin wallet, a guide to understanding the claiming process and its underlying significance

Written by: Nan Zhi, Planet Daily

Uniswap Labs announced on the X platform that it will soon launch the Uniswap Extension. Uniswap calls it "the first wallet located in the browser sidebar," eliminating pop-ups and trading interfaces, and has opened up the application for usage eligibility.

This article will interpret how to apply for testing eligibility, the features and characteristics of this wallet, and the development plans showcased by Uniswap.

Usage Eligibility Application

To join the queue for usage eligibility for the Uniswap Extension, you first need to obtain a uni.eth username. The uni.eth username is a product similar to ENS, allowing users to use a readable name in Uniswap instead of a long string of 0x codes. It can also serve as a sending and receiving address for funds, and allows holders to search for other users by username, edit wallet profiles, and add avatars, social media links, etc.

The usernames launched by Uniswap are compatible with any DApp or wallet that supports ENS, such as MetaMask and Coinbase. Each wallet can modify the username up to two times, but it is important to note that Uniswap usernames cannot be transferred or sold.

Currently, Uniswap usernames can only be applied for through the Uniswap Wallet, which users can download from the App Store and Google Play.

Once the wallet application is completed, users can enter the "Settings" interface, select the wallet for which they plan to apply for the uni.eth username, and then edit the label to obtain it. The flowchart is shown below.

After completing the username application, users will automatically enter the queue for usage eligibility. The earlier you obtain the username, the higher your priority will be, and once approved, you will receive a notification from the Uniswap Wallet app.

Uniswap Extension Analysis

Basic Functions and Features of Uniswap Extension

Callil Capuozzo, Vice President of Design at Uniswap Labs, stated in an interview with Blockworks that the Uniswap Extension has been in development for some time, aiming to help Uniswap become a more complete platform for swapping. According to official documentation, promotional videos, and marketing copy, the main known features include:

Persistent sidebar, allowing easy access even when switching between multiple tabs or pages (it can also float like a regular wallet for small window operations), as shown in the image below when switching web browsing with the sidebar active;

Quick import, allowing users to import the wallet into the Extension via QR code, eliminating the address recovery process;

No pop-up trading, allowing direct confirmation of trades after confirming the swap object and amount.

Can It Become a Disruptive Product?

Based on the features of the Uniswap Extension mentioned in the previous section, it can be compared with Telegram trading bots, which became popular in 2023 due to their speed, ease of use, and comprehensive functionality, making them the preferred trading tool for many.

Telegram trading bots have improved the usage of DApp + wallet plugins in the following ways:

• One-click ordering, completing the trade in one go after confirming the swap object and amount, eliminating four steps: authorization, clicking authorization confirmation, initiating the trade, and confirming the trade;
• Account-free login, allowing synchronization between PC and mobile;
• Advanced operations, ranging from easy to difficult, including limit buy/sell, smart gas adjustment, following trades, new coin sniping, MEV protection, and rug pull protection;
• Supporting information, including notifications for various new coins, smart wallet tracking, etc. Some bots even operate communities specifically for meme token traders, promoting user interaction and purchasing desire.

Through these features, Telegram trading bots meet users' full-cycle needs for "what to buy," "is this token safe to buy," "how to buy quickly," and "how to automatically take profits or stop losses," significantly improving traditional usage methods.

Can the Uniswap Extension achieve similar effects and guide users back to Uniswap through this extension?

The answer is that this plugin alone still cannot attract users. The Uniswap Extension only provides one-click ordering and quick login features. As for its persistent sidebar feature, it simplifies the process of "user confirms purchase object → external tool confirms token safety → open Uniswap → input information to place an order," rather than being a disruptive improvement over Telegram trading bots, and it lacks many advanced features.

The aforementioned demand is primarily aimed at on-chain Degen users who require fast, high-frequency trading. For low-frequency trading and long-term holding whale users, the demand for trading functionalities is much less, only having a certain need for the uni.eth username, but its compatibility with protocols like ENS means it is essentially a homogeneous product.

Conclusion

In summary, the Uniswap Extension is a slight improvement to the current Uniswap trading model, but the process and requirements for obtaining the plugin highlight Uniswap's fundamental goal—bringing users into the Uniswap Wallet.

The Uniswap Wallet was launched on the App Store in April last year, and the beta version was only released to Android users in October, with virtually no users adopting it. The current web plugin requires users to download the Uniswap Wallet and apply through the account within the wallet, then introduces a "wallet QR code login" feature in the plugin, redirecting mobile users back to the web.

Last night, Uniswap also launched a web-based limit order feature without gas fees and announced an upgraded version of token data functionality, including various data such as TVL, price, LP amount, and fees, aiming to provide insights aggregated in one place. It is worth noting that the MEV protection feature is already built into the Uniswap Wallet.

Based on multiple product updates, Uniswap has achieved comprehensive functional improvements and may hope to realize a new round of user and adoption growth through mobile user redirection.