Original | Odaily

Author | Nan Qi

Uniswap Labs announced on the X platform that it will soon launch the Uniswap Extension. Uniswap describes it as the "first wallet in the browser sidebar" with no pop-up windows and trading interface, and qualification applications are now open.

Odaily will explain in this article how to apply for testing qualification, the features of this wallet, and the Uniswap development plan behind it.

Applying for Qualification

To join the qualification application queue for Uniswap Extension, you need to obtain a uni.eth username. The uni.eth username is a product similar to ENS, which allows users to use readable names in Uniswap instead of long strings of 0x codes. It can also be used as a sending and receiving address for funds, and allows the owner to search for other users using the username, edit wallet profiles, and add profile pictures and social media links.

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

The Uniswap username is currently only available through the Uniswap Wallet application, which can be downloaded from the App Store and Google Play.

After the wallet application is completed, users can enter the "Settings" interface, select the wallet planning to apply for the uni.eth username, and obtain it by editing the label. The process flowchart is shown below.

After completing the application for a username, the user will automatically enter the queue for eligibility application. The earlier the username is obtained, the higher the priority will be. You will receive app notifications from Uniswap Wallet when approved.

Uniswap Extension Analysis

Basic Functions and Features of Uniswap Extension

Callil Capuozzo, Design Vice President of Uniswap Labs, said in an interview with Blockworks that Uniswap Extension has been in development for some time, aiming to help Uniswap become a complete swap platform. Based on official documentation, promotional videos, and promotional materials, the main features currently known include:

• The sidebar is always visible and can be conveniently accessed even when switching between multiple tabs or pages (it can also float like a regular wallet for small window operation). The following image shows the effect of switching web browsing with a persistent sidebar;

• Quick import: Users can import wallets into the Extension through QR codes, eliminating the address recovery process;

• Popup-free transactions: After confirming the swap target and quantity, the transaction can be directly confirmed.

Can it become a disruptive product?

Based on the characteristics of the Uniswap Extension mentioned in the previous section, it can be compared to a Telegram trading bot. These bots have become the preferred trading tools for many people due to their fast, easy-to-use, and full-featured characteristics, and have gained popularity since 23 years.

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

• One-click ordering, completing the transaction in one step after confirming the swap object and quantity, eliminating the need for authorization, confirmation, transaction initiation, and confirmation;

• Account login-free, PC and mobile synchronization;

• Advanced operations, including limit orders, smart gas adjustment, copy trading, sniper trading for new coins, protection against MEV and flash loans, protection against rug pulls, etc.;

• Auxiliary information, including notifications for various new coins, smart wallet tracking, etc. Some bots also operate communities dedicated to meme token traders, promoting user communication and buying desires.

Through these features, Telegram trading bots meet the users' full-cycle needs of "what to buy," "whether the token I want to buy is safe," "how to buy quickly," and "how to automatically profit or stop-loss," greatly improving the traditional usage methods.

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

The answer is that it still cannot attract users solely through this plugin. Uniswap Extension only provides one-click ordering and quick login functions. As for its sidebar, it simplifies the process of "user confirms the purchase object -> external tools confirm the token's safety -> open Uniswap -> enter information and place an order," which is not a revolutionary improvement compared to Telegram trading bots, and it still lacks many advanced features.

The aforementioned demand-side is mainly aimed at on-chain Degen users who require fast and high-frequency trading. For low-frequency trading and long-term holding whale users, the demand for trading functions is much less, only requiring a certain demand for the uni.eth username. However, it is still a homogeneous product as it is compatible with protocols such as ENS.

Conclusion

Given the above, Uniswap Extension is a minor improvement to the current Uniswap trading model, but the process and requirements for obtaining the plugin highlight the fundamental purpose of Uniswap - to lead users to the Uniswap wallet.

The Uniswap wallet was launched on the App Store in April of last year and the test version was not made available to Android users until October, so there are currently very few users. With this web plugin, users are required to download the Uniswap wallet and claim it through the wallet's account. The plugin also introduces a feature similar to "wallet QR code login" to redirect mobile users back to the web interface.

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

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