Uniswap needs more than $100 million to expand its line of existing services

Uniswap Labs would seek at least $100 million financing for a potential valuation of one billion dollars. According to four well-informed sources, the creator of the Uniswap protocol wants to expand its range of services thanks to the planned fresh capital.

Although the development is still subject to change, inside sources also claim that at least two investors are attached to funding Uniswap. It is the American investment company Polychain Capital and one of Singapore’s sovereign wealth funds.

Uniswap Funding Update

According to reports, Uniswap’s potential fundraising is aiming to raise between $100 million and $200 million in equity. Additionally, the company’s potential billion-dollar funding round represents an ambitious plan to expand its offerings to customers. Among these projected offerings is the ability for customers to trade non-fungible tokens (NFTs) on Uniswap from a number of exchanges. Additionally, the leading decentralized exchange is also looking to integrate a wallet into its existing suite of services. Speaking previously about Uniswap’s program to onboard “several new products“, the company’s chief operating officer, Mary-Catherine Lader, explained:

“Our mission is to unlock universal ownership and exchange. If you can embed the ability to exchange value and allow people to join the community and exchange value with your project, business or organization, that’s a powerful way to allow more people to commit to this property.”

At the time, Mr. Lader also spoke about the broader underlying scheme of Web3 and the potential it offers to players in this space. As the COO of Uniswap said:

“Web3 is revolutionizing financial technology and financial infrastructure into a single entity. Web3 enables any application, any website, to invent value in a digital economy without having to ask permission or pay for this service.”

Currently, Uniswap accounts for an overwhelming 64% share of all decentralized exchange (DEX) volume, according to DeFi Llama. In other words, it’s about two-thirds of the entire DEX market volume. Furthermore, UNI, the protocol token of the cryptocurrency exchange, has a market capitalization of around $5 billion despite the market downturn. At the height of the bull cycle in 2021, Uni’s market capitalization reached an impressive $22.5 billion.

Uniswap

Uniswap’s last Series A fundraising was in August 2020. The platform is the largest decentralized exchange in the crypto space and counts Andreessen Horowitz (a16z) and Paradigm among its current backers. Additionally, the platform also serves as an open-source permissionless protocol that developers can use and integrate into their platforms. This is so that cryptocurrency users can trade tokens.

Decentralized Autonomous Organization (DAO) Uniswap also holds the largest treasury of its kind in the crypto space. According to DeepDAO, that figure comes to around $2.7 billion in value. Last month, Uniswap said it would create the Uniswap Foundation. This entity will be primarily responsible for growing the decentralized exchange ecosystem.

In September, Uniswap’s first round of grants amounted to $1.8 million.

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Uniswap needs more than $100 million to expand its line of existing services


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