Updated on January 10, 2023 2:20 PM
"We do want to make data-driven decisions that improve user experience," Uniswap Labs remarked in the announcement. "That includes public on-chain data and limited off-chain data like device type, browser version, etc."
While Uniswap faced the data it may use, several crypto enthusiasts stated the move goes against the primary ideals of crypto, which are privacy and anonymity.
Chris Blec, a crypto enthusiast, backlashed the DEX platform while concluding his points directly.
Another Twitter user, Yoda Research, stated, "STOP using Uniswap $UNI They've expanded their collection of on/ off-chain data connected to your wallets."
According to the company, it does not share user data with other parties for marketing reasons.
After the FTX solvency, the crypto market has suffered a lot. Due to various factors and the feud between Cz Binance and SBF, the whole DEX market declined rigorously because every exchange is now trying to make the internal operations transparent so any misconduct could be tracked easily.
After the announcement, Uniswap's native token Uniswap was in red and tumbled more than 4% on November 21, trading at $5.3 at the press time. However, the trading volume showed an upward movement. The trading volume is up 79%, according to coinmarketcap.