Uniswap Labs Holds $100 Million Fundraiser

Uniswap, one of the major decentralized exchanges (DEX) in the crypto ecosystem, is currently in the process of organizing a fundraising in order to expand its decentralized finance related offer.

According to a report published by TechCrunch on September 30, Uniswap Labs is seeking to raise $100-200 million for a new round of funding as its valuation already exceeds $1 billion.

The company behind the hugely popular Ethereum blockchain-based exchange is reportedly still planning the terms of this fundraiser. In addition, the final outcome of these deliberations and the details of this agreement are still subject to possible changes, according to two sources familiar with the matter.

The startup is currently working with investors such as the firm Polychain, Paradigm Venture Capital, ParaFi and many others as part of this new phase of financing.

As of this writing, daily trading volume on Uniswap is around $1.1 billion, which equates to just under 57% of trades across all DEXs as of today. global scale according to DefiLlama statistics. In comparison, Curve, which is the second largest decentralized exchange just after Uniswap, has a daily trading volume of $205 million.

New funding that will allow Uniswap to strengthen its monopoly on the Web3

Before continuing with this article, it is necessary to contextualize and go back some time, more exactly two years ago. At that time, the Uniswap exchange platform was in charge of what was later referred to as the “DeFi Summer”, i.e. the summer of decentralized finance in French.

This is a very particular period that corresponds to an explosion in the adoption of DeFi-related protocols. The latter, allowing users to trade, borrow funds or exchange tokens, quickly saw their total value increase from less than a billion dollars to 10 billion, until reaching 100 billion dollars at their highest level in 2021.

These events offered Uniswap the opportunity to generate strong enthusiasm around its platform over the long term. Today the company at the head of the project wants to offer its users a new crypto wallet which could take the form of a browser extension, like Metamask or Phantom, as well as a platform specializing in the sale and the exchange of NFTs.

NFTs and DeFi are elements that form the heart of Web3, and Uniswap Labs is fully aware of this narrative. Additionally, COO Mary Catherine Lader says the company’s ambition is to become a universal protocol. In this regard, she adds:

“Our mission is to unlock universal ownership and exchange, so that as many people as possible can join a project and grow it through investment. »

Uniswap Labs Holds 100 Million Fundraiser

Currently, the price of Uniswap (UNI) cryptocurrency is trading around 6.64 Euros. This after almost reached the symbolic bar of 10 euros during the month of August. In addition, we observe from Coinmarketcap data that it is ranked 17th in the crypto ecosystem in terms of market capitalization.

We want to give thanks to the writer of this post for this awesome content

Uniswap Labs Holds $100 Million Fundraiser

Visit our social media accounts and also other related pageshttps://metfabtech.com/related-pages/