A new funding round will see $100 million raised by Uniswap.
In its most recent funding round, Uniswap Labs, the company behind one of the biggest decentralized exchanges in the world, is aiming to raise a staggering $100M. This round of funding comes after Uniswap's prior Series A funding in 2020.
In a story published on Friday, the American online newspaper TechCrunch revealed the development. Intel on the Uniswap deal, which is still in the early stages, was provided to TechCrunch, according to the report, by four trustworthy sources. The sources have opted to maintain their anonymity.
Uniswap will receive funding from a variety of sources, including a Singaporean social wealth fund and Polychain, a California-based investment firm. At a $1 billion valuation for Uniswap, the fund will accept investments ranging from $100 million to $200 million.
According to the sources, the fund is still in its early stages, and as a result, the terms surrounding it are likely to change as negotiations progress. Neither Uniswap nor Polychain have released any information about the report.
If the funding round is successful, it will be Uniswap's second funding round in less than two years. In August of 2020, the company completed its Series A funding. The venture capital firm Andreessen Horowitz (a16z) led the $11 million funding round.
Uniswap's Expansion Plans
Uniswap is the world's largest decentralized exchange and the world's fourth-largest exchange. Uniswap has seen massive growth in adoption since its launch in 2018 by computer engineer Hayden Adams.
According to DeFiLlama, a DeFi TVL aggregator, the decentralized exchange accounts for 64% of the total volume of all decentralized exchanges in the crypto space.
Uniswap has released several updated versions of its platform in an effort to upgrade its features in order to meet the ever-changing needs of the crypto community. Uniswap v2 was released in May of 2020, and Uniswap v3 was released just a year later, in March of 2021.
As revealed by Uniswap Labs through a tweet, the platform hit the $1 trillion volume milestone in May of 2022 – an interesting feat to achieve in less than half a decade. Most of Uniswap's trade volume – about 80% – was seen last year as the crypto scene saw a massive interest rate fueled by the bull market.
Despite its meteoric growth, the platform still looks to expand, with this ongoing funding round serving as testament to that interest. Furthermore, Uniswap recently revealed that it plans to launch new products, as disclosed by COO Mary-Catherine Lader at the Messari Summit of 2022.
Uniswap DeFi
