Decentralized exchange Uniswap is now collecting on-chain user data from its users, as per a new privacy policy update.
In a blog post on Monday, Uniswap disclosed that it stores public on-chain data and “limited off chain data” to make data-driven decisions and improve user experience.
The data it collects does not include personal data, such as IP addresses or names and addresses, but does include device type, browser details, mobile deviceID and wallet information.
Uniswap said it collects and logs the data when a non-custodial wallet is connected to its services. In doing so, the protocol said it learns about the wallet’s activity and runs checks on whether it was involved in any illicit activity.
“We may share your data in the course of litigation, regulatory proceedings, compliance measures, and when compelled by subpoena, court order, or other legal procedure,” stated Uniswap in its privacy policy.
The DEX said it also stores information from localStorage and cookies with the supposed goal of personalizing services for users.
“For example, we may use this information to remember tokens you import, star, or add to your shopping bag,” said Uniswap.
Gabriel Shapiro, general counsel at Delphi Labs, interpreted the move as “not ideal” but likely motivated by the desire to improve the platform’s UI. Unsurprisingly, some of the more hardcore decentralization proponents were harsher critics and asked people to stop using it altogether.
“They’ve expanded their collection of on/ off chain data connected to your wallets,” tweeted Yoda Researcher
“Don’t forget how they partnered with TRM labs to ban Tornado Cash addresses,” he added.
