Uniswap raises $165 million to bring Web3 to everyone

Uniswap Labs, the creator of a top decentralized exchange for trading and automated liquidity provision on Ethereum, recently disclosed that it raised $165 million in Series B funding to bring Web3 to everyone. The round was led by Polychain Capital, along with participation from investors like a16z crypto, Paradigm, SV Angel, and Variant.

What is Uniswap?

uniswap-raises-165-million-for-web3

Uniswap is a decentralized exchange (DEX) bearing on the Ethereum blockchain, allowing users to trade digital tokens in a decentralized way. Traders can swap Ethereum tokens and Ethereum-based tokens on the platform without trusting any party with their funds. Users can also lend their tokens to its liquidity pools and earn fees in exchange.

Presently, theV3 supports over 45% of the whole global decentralized exchange trading volume, as per data from DeFiLlama and CoinMarketCap, making it the market leader in the DEX part. More about the fundraising a few months back, it was reported the New York-headquartered company was in talks with investors to extend $100 million capital at a valuation of $1 billion. As per a report, the $165 million fundraising values Uniswap at $1.66 billion.

In a blog verifying the news, the Founder and CEO Hayden Adams stated, as Uniswap Labs focuses on products, a much wider ecosystem continues to develop and thrive beyond what any one company can do on its own. For instance, the governance community lately voted to begin the Uniswap Foundation, which will contribute to the Protocol’s decentralized development and provide at least $60 million in assistance to community projects over the next few years. The CEO also added that when he built the Protocol back in 2018, it was an experiment to see if they could create a product that was fine, secure, and accessible. Since then, it has developed and evolved in ways he never imagined. It’s backed $1.2 trillion in trading volume to date and has become a critical public infrastructure for trading digital value, says Hayden Adams.

In April, Uniswap Labs founded UniSwap Labs Ventures for focusing on investing in Web3 startups developing consumer-facing apps, developer tools, and blockchain infrastructure. It joined a growing number of crypto-native businesses that are now formally devoting funds to invest in other startups in the sector, such as Defi protocol Cake and cryptocurrency exchange FTX. The company has also invested in 11 firms which include likes of Tenderly, LayerZero, MakerDAO, Aave, Compound Protocol, and PartyDAO.


Hungry for more information?

NFT Calendar from NFTHi

Check out the Latest NFT News!

For more interesting updates on NFTs, connect with NFTHI on Twitter and Instagram.

Join us on Telegram!


NFTHI does not recommend any kind of Investment in NFTs or NFT trading. All the strategies are merely educational references.

Conduct thorough research before you start with NFTs

Share This Post

Related Posts

OpenSea Sees Lowest 24Hr Sales Volume in its History

It is quite evident that like any other crypto...

Ukraine’s Minister believes Cryptocurrency is an important tool for raising funds

Since Russia began raiding Ukraine, cryptocurrency is becoming an...

An NFT Company sues Rapper Tyga over breaching a contract worth over $500K

Rapper Michael Ray Nguyen-Stevenson, aka Tyga, has been sued by...

Top 5 NFT Trading Strategies For Traders in 2022

Having a perfect NFT trading strategy is necessary for...

NFT Twist in hidden “Leonardo” Painting Saga

A painting of a princess perhaps by the Old...

Coinbase CEO warns Investors that Crypto Winter may last longer

Coinbase CEO Brian Armstrong expressed that Investors should buckle up...
spot_img