Rainbow: keys, security, fees and reviews
In short
- Key control
- Non-custodial: private keys are stored on the user's device and Rainbow Studio does not control the wallet.
- Fees
- Swaps: A Rainbow fee (percentage) is applied to swaps and always shown on the review screen.
- Risks and caveats
- Rainbow Studio never has the secret phrase; if it is lost, funds in the wallet cannot be recovered.
- Checked
- 31 October 2026
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Key facts
- Official site
- rainbow.me
Key facts checked on 31 October 2026 against official sources.
What is Rainbow
Rainbow is a non-custodial wallet for Ethereum and EVM networks, available as an iOS and Android app and a browser extension, made by Rainbow Studio, Inc. of Brooklyn, New York. Besides holding and swapping tokens, the app now offers perpetual futures (via Hyperliquid), prediction markets (via Polymarket) and the RNBW token, launched on 5 February 2026.
Who holds the keys
| Parameter | Details |
|---|---|
| Key control | Non-custodial: private keys are stored on the user's device and Rainbow Studio does not control the wallet. |
| Seed phrase | A 12-word secret phrase is generated for each new wallet; only the user has access to it. |
| Recovery | Encrypted backup to iCloud or Google Drive, or manual backup of the secret phrase. |
Features and supported networks
| Parameter | Details |
|---|---|
| Platforms | iPhone and Android apps; browser extension for Chrome, Firefox and Edge. |
| Supported networks | Ethereum and EVM networks including Base, Optimism, Arbitrum, Zora, Polygon, Avalanche and BNB Smart Chain; one address on all networks. |
| Swaps | In-app swaps and bridging through the RainbowRouter contract, with optional Flashbots protection; the Rainbow fee is shown before confirming. |
| Perpetual futures | Leveraged perpetual futures on Bitcoin, the S&P 500, gold and oil, powered by Hyperliquid. |
| Prediction markets | Polymarket markets on sports, elections and other events inside the app. |
| dApp browser | Built-in dApp browser in the mobile app. |
| Hardware wallet support | Ledger Nano S Plus and Nano X in the browser extension (temporarily disabled on Firefox). |
| Staking | RNBW token staking in the mobile apps returns 25-100% of swap fees as staked RNBW by tier; unstaking costs a 10% exit fee. |
Security and audits
- The mobile app source code is public on GitHub (rainbow-me/rainbow) under the GPL-3.0 licence.
- Swaps can be routed through Flashbots to protect against front-running and sandwich attacks.
- Rainbow Studio describes itself as a software provider not regulated by any federal or state agency; balances have no FDIC or SIPC protection.
Security incidents
| Date | What happened | Source |
|---|---|---|
| 16 January 2024 | Bridge exploit: Rainbow stated that an industry-wide exploit hit the third-party Socket Gateway contract that powers Rainbow's in-app bridging, and that it paused bridging in its mobile app and browser extension while Socket paused its contracts. Funds returned: not stated | x.com |
Fees
| Parameter | Details |
|---|---|
| Swaps | A Rainbow fee (percentage) is applied to swaps and always shown on the review screen. |
| Buy / sell | Users pay applicable fees for swaps and card or bank transfers; card and bank fees may be netted from the amount received. |
| Rewards | Users without staked RNBW receive 10% of swap fees back as Rainbow Rewards. |
History
| Date | Event |
|---|---|
| 18 December 2025 | CoinList public sale of 30 million RNBW tokens. |
| 5 February 2026 | RNBW token generation event and airdrop of 150 million tokens to past users. |
| 15 April 2026 | RNBW staking launched in the iOS and Android apps. |
Risks and caveats
- Rainbow Studio never has the secret phrase; if it is lost, funds in the wallet cannot be recovered.
- Tokens sent on a network Rainbow does not support will not appear in the app.
- Perpetual futures use leverage; falling below the maintenance margin can trigger liquidation.
- Balances are not protected by FDIC or SIPC insurance.
About the developer
- Legal entity
- Rainbow Studio, Inc.
- Headquarters
- 201 N. 8th St., Brooklyn, New York, USA.
- Largest shareholder
- The Rainbow Foundation holds 20% of the equity through Class F shares.
Official links
- Website: rainbow.me
- Support: rainbow.me/support
- Source code: github.com/rainbow-me/rainbow
- Investors: investors.rainbow.me
Questions and answers
Is Rainbow self-custodial?
Yes. Private keys are stored on the user's device, and Rainbow Studio cannot access the 12-word secret phrase or move funds.
Is Rainbow open source?
The mobile app code is public on GitHub under the GPL-3.0 licence.
Which networks does Rainbow support?
Ethereum and EVM networks such as Base, Optimism, Arbitrum, Zora, Polygon, Avalanche and BNB Smart Chain.
Does Rainbow charge fees?
Swaps include a Rainbow fee shown before confirming; RNBW stakers get 25-100% of it back as staked RNBW, other users 10%.
Who makes Rainbow?
Rainbow Studio, Inc. of Brooklyn, New York; the Rainbow Foundation is its largest shareholder with 20% of the equity.
Sources
- Rainbow — Home
- Rainbow — Terms of use
- Rainbow Support — Supported networks
- Rainbow Support — The importance of backups
- Rainbow Support — Bridge and swap tokens
- Rainbow Support — Perps on Rainbow
- Rainbow Support — Staking RNBW
- Rainbow Support — The Rainbow in-app browser
- Rainbow Support — Connect your hardware wallet
- Rainbow Investor Relations
- GitHub — rainbow-me/rainbow
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