About Rainbow
Rainbow is a lighter wallet for Ethereum and its layer 2 networks, made by Rainbow Studio, Inc. It is open source under GPL-3.0 and aims to be simple rather than exhaustive. Out of the box it supports Arbitrum, Optimism, Base and Polygon, plus BNB Smart Chain without a custom RPC, and it discovers your tokens automatically.
Useful touches include an Impersonation mode that lets you watch any wallet and try apps from its point of view, a search menu opened with Cmd or Ctrl and K, keyboard shortcuts for switching wallets, and Flashbots protection against front-running. Its README says it was among the first extensions built on Manifest V3, which bans remotely hosted code. It has listings for Chrome, Edge and Firefox.
It ranks last for one reason: we found no published third-party audit of the extension, so you are relying on public code and community review. Its record is clean and the repository is active, but that is weaker evidence than a named audit. It is also EVM-only and much smaller than the others, with about 90,000 Chrome users. Best for newcomers who want a simple open source wallet and accept that gap.
Pros and cons
- GPL-3.0 code on GitHub
- Chrome, Edge and Firefox listings
- Layer 2 networks and BNB Smart Chain ready out of the box
- Flashbots protection against front-running
- No published third-party audit of the extension that we could find
- EVM networks only
- Small user base, about 90,000 on Chrome
Permissions
It needs access to the sites you visit so it can inject its wallet into apps and show signing prompts, plus storage and notifications. Rainbow's README says Manifest V3 means it can only run code included in its package.
