Uniswap users might be well aware and familiar with how the platform recently raised $100M in funding. The globally renowned decentralized exchange platform hasn’t yet stopped its funding round. Instead, the series B funding round arranged to promote and support Uniswap’s efforts to advance and improve its service to the global community is still collecting funds and increasing the platform’s ability to improve and advance.
This time, compared to the $100 million collected by the platform, Uniswap Labs successfully raised $165 million in a new investment round. The company is looking to expand its product and service offerings. Polychain Capital was the company that took the lead during the Series B fundraising round.
According to Uniswap Labs, the company is currently valued at $1.66 billion after the most recent round of funding. A number of the company’s previous investors, including a16z crypto, Paradigm, SV Angel, and Variant, also took part in the investment round.
What Do Investors and Uniswap Founder Have to Say?
Adams, who developed and released Uniswap in 2018, said that he views the investment round and the protocol’s adoption as validation for decentralized enterprises. He further adds:
“For us, the industry has started to prove itself, and we’re seeing its value of it, especially in this bear market when a lot of centralized infrastructures failed, and a lot of decentralized entities prevailed.”
Additionally, one of the investors of the Uniswap Protocol and CEO at Uniswap Labs; Hayden Adams, also announced during these funding rounds:
“As Uniswap Labs focuses on products, a much broader ecosystem continues to grow and thrive beyond what any one company can do on their own. As an example, the governance community recently voted to create the Uniswap Foundation, which will contribute to the Protocol’s decentralized development and give at least $60 million in grants to community projects over the next few years.”
More About Uniswap:
Unlike the majority of exchanges, which are designed to generate revenue by charging fees, Uniswap is meant to serve as a public good by providing the community with a tool that enables them to trade tokens without paying platform fees or going through middlemen.
Currently, Uniswap controls 64 per cent of all decentralized exchange volumes. Hence, despite the recent market dip, the native token of the Uniswap exchange protocol has a market capitalization of approximately 5 billion dollars. According to data presented by TechCrunch, Uniswap’s market capitalization surpassed $22.5 billion during the most recent run-up in the stock market. Moreover, customers will soon be able to trade non-fungible tokens (NFTs) on Uniswap from various marketplaces thanks to one of Uniswap’s forthcoming offers, which the company announced in recent months as part of plans to launch “many additional products.”
