Uniswap Labs, the decentralized exchange protocol, faces a roadblock in launching its latest self-custodial mobile wallet. Like other crypto entities, that is due to Apple App Store issues.
Despite receiving approval for its first build in October, Uniswap Labs has struggled to get Apple’s nod for the final build. As a result, it creates unnecessary friction and unease.
The new wallet will offer users the convenience of swapping on layer-1 or layer-2 networks without switching blockchains. Users can also check price charts and search for any token across networks such as Ethereum, Polygon, Arbitrum, and Optimism.
Uniswap Labs collaborated with Trail of Bits to audit the wallet to ensure maximum security. Additionally, the seed phrases and private keys of imported and newly created wallets will be encrypted and stored on devices using Apple’s Secure Enclave, excluded from device backups.
Uniswap also stated that users could manually store their seed phrases with a paper copy or encrypt and store it on iCloud. Giving users various options is essential to promote self-custody solutions.
Despite addressing all concerns and reiterating compliance with guidelines, Apple still needs to greenlight the launch of Uniswap’s mobile wallet. As a result, Uniswap Labs is offering early access to a select few thousand Testflight users while waiting for Apple to approve the launch.
The Uniswap community recently voted to deploy Uniswap v3 on Boba Network‘s layer-2 protocol on Ethereum. That makes it the sixth chain to deploy Uniswap v3. This move was backed by several entities, including GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys.
However, a similar plan to expand to BNB Chain was shot down by a16z.
Uniswap Labs’ latest self-custodial mobile wallet is a step towards decentralized finance. Allowing users to swap across various networks is essential. Unfortunately, no one knows if and when Apple will give the mobile wallet the green light. That process can range from days to months, often without further explanation or guidelines.
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