Rainbow is an open-source, self-custodial Ethereum wallet designed to make Web3 accessible, enjoyable, and secure for users ranging from complete beginners to experienced DeFi traders. The platform supports Ethereum and multiple Layer 2 networks including Optimism, Arbitrum, Base, Polygon, BSC, Zora, and Avalanche, providing seamless multi-chain asset management through beautifully designed mobile and browser extension interfaces. Rainbow offers built-in swapping, bridging, and NFT management capabilities with Flashbots protection against MEV attacks and front-running. The wallet emphasizes user experience with features like ENS username support, customizable notifications, WalletConnect integration for dApp connectivity, and optional iCloud or Google Drive backup. With over 100,000 downloads and a community-first approach, Rainbow has positioned itself as a user-friendly alternative to MetaMask while maintaining full self-custody principles.

Technology & Features

Rainbow distinguishes itself through exceptional user experience design that makes blockchain interactions intuitive and visually appealing. The wallet automatically discovers and displays tokens and NFTs across all supported networks without requiring manual import or network switching. Users can view their complete portfolio spanning multiple chains in a unified interface, eliminating the friction of managing assets across different networks.

The platform implements Manifest V3 extension standards for the browser version, delivering security benefits including runtime isolation that prevents remotely hosted code execution, improved performance with lighter CPU and memory footprints through service workers, and reliable hardware wallet support via direct WebUSB and HID access. Rainbow employs security measures developed in collaboration with MetaMask's engineering team including LavaMoat supply chain attack protection and browser-passworder encryption for at-rest keychain security.

Built-in swap functionality aggregates liquidity across decentralized exchanges, providing users with optimal pricing without leaving the wallet. The platform sources routes from multiple DEXs and automatically selects the best execution path based on factors including price impact, gas costs, and slippage tolerance. Flashbots Protect integration shields users from sandwich attacks and maximal extractable value exploitation that can drain value from transactions on public mempools.

Cross-chain bridging capabilities enable seamless asset transfers between Ethereum mainnet and Layer 2 networks. The wallet handles bridge routing, gas estimation, and transaction monitoring automatically, abstracting away the technical complexity typically associated with moving assets between chains. Users can bridge to lower-fee networks like Base, Optimism, or Arbitrum to reduce transaction costs while maintaining access to DeFi protocols and applications.

NFT management represents a core focus area with dedicated gallery views that showcase digital art and collectibles across all supported chains. Users can view collection details, accept offers directly within the wallet, and share web profiles displaying their favorite pieces. The interface treats NFTs as first-class assets rather than afterthoughts, reflecting the importance of digital collectibles in the Ethereum ecosystem.

ENS username support allows users to send and receive assets using human-readable names instead of hexadecimal addresses, reducing errors and improving accessibility. Rainbow users can claim ENS names, configure profile information including avatars and social links, and display their identity across Web3 applications. The wallet resolves ENS addresses automatically during transfers and displays them prominently in transaction history.

WalletConnect v2 integration provides connectivity to thousands of decentralized applications spanning DeFi, NFT marketplaces, gaming, social platforms, and Web3 infrastructure. Users can connect Rainbow to protocols like Uniswap, OpenSea, Aave, Mirror, and countless others through QR code scanning or deep linking. The wallet maintains persistent connections and manages session permissions with granular controls over what information and capabilities each dApp can access.

Notification customization enables users to monitor blockchain activity in real-time. The system supports alerts for incoming transactions, NFT offers, token price movements, and activity on watched wallets. Users can follow any public Ethereum address to receive notifications when those accounts perform on-chain actions, useful for tracking whale movements, monitoring team wallets, or keeping tabs on friends' activity.

The wallet implements multiple backup options to balance security and convenience. iCloud backup on iOS and Google Drive backup on Android encrypt wallet data and store it in user-controlled cloud accounts, providing recovery options if devices are lost or seed phrases misplaced. Users can also rely on traditional seed phrase backups for maximum security, and the wallet supports importing existing wallets from MetaMask and other providers for easy migration.

Rainbow operates on a freemium model where core wallet functionality remains completely free. The platform generates revenue through small fees on swap and bridge transactions, typically 0.875% on swaps with a portion allocated to covering gas costs during promotional periods. This approach aligns incentives with user activity rather than charging upfront subscription fees.

Platform Growth & Adoption

Rainbow has achieved significant traction metrics demonstrating product-market fit and sustainable growth. The browser extension alone has surpassed 100,000 downloads, with mobile applications adding substantial additional users. Monthly swap volume reached approximately 5.4 million dollars in recent reporting periods, generating around 47,000 dollars in revenue. Quarterly protocol fees hit 833,625 dollars in Q3 2025, indicating healthy transaction activity.

The wallet processed about 20.8 million dollars in 30-day swap volume based on fee analysis, with annualized fee projections of approximately 2.16 million dollars. These metrics position Rainbow among the top five software wallets by usage, though MetaMask maintains market dominance with over 30 million monthly active users.

Rainbow's Points program attracted over 400,000 registered accounts within 24 hours of launch in December 2023, demonstrating strong demand for the anticipated token. The program was explicitly positioned as a "fox hunt" targeting MetaMask users who had been speculatively using MetaMask's built-in swap function hoping for a future airdrop. By directly rewarding these users and offering superior experience, Rainbow successfully attracted a massive influx of new accounts.