Uniswap The company behind the decentralized exchange protocol, Uniswap Labs announced Thursday that it has raised $165 million in a Series B funding round. According to one report, Uniswap Labs’ funding to rise to his $1.66 billion valuation will be the biggest among crypto companies in 2022. The creator of the launch decentralized exchange (dex) Uniswap protocol, Uniswap Labs recently announced that he had raised $165 million in a Series B funding round. The funding round was led by Polychain Capital, with participation from the company’s longtime investors including Andreessen Horowitz (a16z), Paradigm, SV Angel and Variant.
Hayden Adams, developer and founder of Uniswap Labs, said in a recent blog post that the new funding will be used to support the company’s expansion plans. I’m here. In addition to “bringing powerful simplicity and security,” Uniswap Labs plans to launch a non-fungible token (NFT) and go mobile, the blog post said.
In a blog post, Adams also highlights his company’s unique approach and how this makes his Uniswap function better. increase. He said:
As Uniswap Labs focuses on products, the broader ecosystem will continue to grow and exceed what one company can do alone. and prosperous. As an example, the governance community recently contributed to the decentralized development of the protocol, and over the next few years the community voted to establish the Uniswap Foundation, which will provide at least $60 million in grants to projects.
According to a Techcrunch report, the funding will lift his Uniswap valuation to $1.66 billion, making it a Series B by cryptocurrency companies in 2022. It’s the most significant fundraising ever.
coingecko.com Decentralized Exchange (dex) According to data statistics, Uniswap is currently the largest dex platform by total global trading volume. At the time of writing, Uniswap supports 609 crypto tokens and the dex saw $880.67 million in its 24-hour global trading volume on Thursday.
Image Credits: Shutterstock, Pixabay, Wiki Commons