Uniswap, the largest decentralized exchange (dex) platform by global trading volume, is considering raising between $100 million and $200 million, according to reports citing people familiar with the company It is. The report claims that Uniswap is “engaged with a number of investors” and is currently in the early stages of a funding round.
Sources say Uniswap is seeking to raise fresh capital from investors like Polychain
Uniswap is looking to raise fresh capital from investors, according to four unnamed sources familiar with the matter. The news stems from areportpublished by Tech Crunch reporter Manish Singh, who cited sources familiar with Uniswap’s business dealings.According to Singh, the sources say that the decentralized exchange (dex) startup “has been involved with a number of investors” and claims that one of them is Polychain Capital.
Uniswap is seeking roughly $100-200 million in fresh capital and can print an after-the-fact valuation of about $1 billion. To date, Uniswap has raised about $12.8 billion from investors; following a $1.8 million seed round in April 2019, the Uniswap team raised another $11 million in a Series A led by Andreessen Horowitz (a16z).
The $11 million infused into Uniswap also came from other venture capital firms such as Parafi capital, Paradigm, and Union Square Ventures. The funding news follows the creation of the Uniswap Foundation, which just revealed plans to distribute $1.8 million in grants to 14 different recipients.
Statistics from Defillama.com show that Uniswap is the fifth largest decentralized financial (Defi) protocol in terms of total value locked (TVL). on September 30, 2022. Uniswap’s TVL was approximately $5.3 billion, an increase of 3.75% over the past 7 days; Defillama.com’s metrics further indicate that dex represents nearly 64% of the global dex volume.
Uniswap version 3 (V3) has a 24-hour trading volume of $834,376,434, while Uniswap V2 has approximately $41.71 million. Uniswap Polygon ($97.43M), Uniswap Arbitrum ($47.64M), and Uniswap Optimism ($51.44M). at the end of June, Uniswap announced that non-fungible token (NFT) aggregator Genie acquisition and recently revealed its integration with NFT marketplace Sudoswap.
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