Uniswap Labs, the agency behind the Uniswap decentralized alternate protocol, introduced on Thursday that it raised $165 million in a Sequence B funding spherical. Based on one report, the capital increase, which sees Uniswap Labs’ valuation rise to $1.66 billion, is the most important by any crypto agency in 2022.
Uniswap Completes $165M Capital Increase, Decentralized Trade Reveals NFT Launch
Uniswap Labs, the creator of the decentralized alternate (dex) Uniswap protocol, not too long ago mentioned it had raised $165 million by way of a Sequence B funding spherical. The funding spherical was led by Polychain Capital with the participation of the agency’s long-time traders like Andreessen Horowitz (a16z), Paradigm, SV Angel, and Variant.
In a current weblog submit authored by Hayden Adams, the developer and founder at Uniswap Labs, mentioned that the brand new funding might be used to assist the agency’s enlargement plans. Along with “bringing the highly effective simplicity and safety,” Uniswap Labs plans to launch non-fungible tokens (NFTs) and to maneuver into cell, the weblog submit mentioned.
Additionally, in the weblog submit, Adams highlights his agency’s distinctive strategy and the way this makes Uniswap good at what it does. He mentioned:
As Uniswap Labs focuses on merchandise, a much wider ecosystem continues to develop and thrive past what anyone firm can do on their very own. For instance, the governance group not too long ago voted to create the Uniswap Basis, which can contribute to the Protocol’s decentralized improvement and provides not less than $60 million in grants to group initiatives over the subsequent few years.
Based on a Techcrunch report, the capital increase noticed Uniswap’s valuation rise to $1.66 billion, thus making it essentially the most vital Sequence B capital increase by any crypto agency thus far in 2022.
Statistics from coingecko.com’s decentralized alternate (dex) knowledge present that Uniswap is the most important dex platform at this time, in phrases of whole commerce quantity worldwide. On the time of writing, Uniswap helps 609 crypto tokens, and dex noticed $880.67 million in 24-hour world commerce quantity on Thursday.
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