Uniswap Labs is encountering hurdles with Apple’s App Store over the release of its mobile wallet, even though its initial version was authorized in October.
1/ Introducing the Uniswap mobile wallet 🦄✨
A completely self-custodial, open-sourced mobile app from the most trusted name in DeFi.
Now available as a limited early release – through Apple TestFlight. pic.twitter.com/NmO8c0bXMs
— Uniswap Labs 🦄 (@Uniswap) March 3, 2023
Uniswap’s mobile wallet in limbo as Apple’s App Store delays launch
Apple’s App Store is allegedly blocking the decentralized open-source, self-custodial wallet despite having gone through Apple’s TestFlight, its release has been held up for weeks.
In October, Uniswap Labs obtained approval for its first build, but it has since encountered difficulties with Apple’s App Store concerning its mobile wallet. Despite the approval of other self-custody swapping wallets, Apple rejected the final version of Uniswap’s mobile wallet a few days before its scheduled release in December 2022.
Uniswap Labs claims to have addressed Apple’s concerns, answered all of its inquiries, and reassured the company that it was following its rules. However, Apple has yet to approve the launch, leaving Uniswap Labs in a state of uncertainty. As a result, the company is providing early access to a few thousand Testflight users while awaiting Apple’s approval.
Uniswap leads all decentralized exchanges
Uniswap operates as a fully decentralized exchange, which means it does not have a single owner or operator. It uses an automated liquidity protocol, a relatively new type of trading model (explained below), setting it apart from other exchanges.
Uniswap was developed on top of the Ethereum blockchain in 2018, which is currently the second-largest cryptocurrency project by market capitalization. Being built on Ethereum makes it compatible with all ERC-20 tokens and related infrastructure, such as wallet services like MetaMask and MyEtherWallet.
Uniswap says it has answered Apple’s concerns and releases early versions of wallet via Tweet
Uniswap Labs said that they have addressed Apple’s concerns but still await App Store approval for the mobile wallet launch.
Uniswap said that in the meantime, they will provide limited early access to Testflight users while awaiting App Store approval, citing being “stuck in limbo” due to Apple not green-lighting the launch without explanation.
On Mar. 6, Uniswap labs tweeted:
gm gm! Let’s start this week off strong 💪
We’re opening more mobile wallet access spots to the first 50 gms we receive
Controversy swirls around Uniswap and its founder Hayden Adams
In 2022, while Uniswap was the most used on the Ethereum smart contract, 95% of the tokens traded on it were said to be scams.
A BNB chain deployment was passed earlier this year on Uniswap, but FUD has persisted around Uniswap’s founder, Hayden Adams, who was accused earlier this year by Balance’s co-founder, Ric Burton, of swindling him on an offer of investor ownership.
Uniswap’s live price today is currently valued at $6.37 USD, with a 24-hour trading volume of $76.5 million USD. It holds the #18 spot on CoinMarketCap’s ranking with a total market capitalization of $4.8 billion.
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