Uniswap's new privacy policy sees backlash from decentralization enthusiasts

Uniswap's recently released privacy policy comes in light of the FTX crisis, an event that has highlighted the need for transparency.

Decentralized Exchange (DEX) Uniswap's recently updated privacy policy appears to have angered some community members, who are concerned that collecting and storing user data goes against Uniswap's core values. cryptography.

In recent responses to a November blog post regarding its updated privacy policy, some vocal community members suggested that it was not customary for a decentralized entity to collect and store information on its users.

In Uniswap Labs' Nov. 11 post, released at the time of FTX's collapse, the decentralized exchange released its privacy policy to explain how it collected and stored user data

"With innovations around blockchain, web3 aims to reclaim privacy and user choice after decades of internet companies eroding it."

"That's why we're releasing a new privacy policy today: we want to be crystal clear about what data we protect and how we use the data we collect. Transparency is key. We don't never want our users to be surprised,” he said.

This privacy policy, which was last updated on November 17, reveals that the exchange collects publicly available blockchain data, information about users' devices, such as information about the browser and operating systems, as well as information about user interactions with its service providers, among others.

Uniswap has also stated that none of this information includes personally identifiable information such as first name, last name, mailing address, date of birth, email address, or IP address.

Despite this, some members of the crypto community have shared concerns that the moves are contrary to core crypto values, which focus on user privacy and anonymity.

The team behind the privacy-preserving cryptocurrency, Firo, said in a November 21 Twitter post to its 83,700 followers that Uniswap's privacy update sets a "dangerous precedent " for DEXs:

While we have the utmost respect for what @Uniswap has built, we strongly reject incorporation...