As the crypto industry grows inexorably, networks are desperate to keep pace and improve their services over time. To do this, the creators of the Uniswap protocol would consider raising funds which could well boost the valuation of the company.
Uniswap Labs eyes new funding of over $100 million
Uniswap Labs is gearing up to expand its offerings. According to four sources familiar with the matter, the parent company of the largest decentralized exchange (DEX) plans to set up a new round. And currently, it is in the early stages. According to a report published by Tech Crunch, the crypto company has surrounded itself with several investors.
Notably, one of Singapore’s sovereign wealth funds and Polychain to raise a $100-200 million seed round. This fundraising should allow the startup to garner a valuation of one billion dollars. However, the round’s deliberations are still in their early stages and there is a good chance that the terms of the agreement will change as they go along.
Over the past few months, Uniswap Labs has been sharing their plans for adding new products. One of these offerings will allow users of the platform to trade NFTs on Uniswap from certain defined markets. According to statements by the company’s COO, Mary-Catherine Lader on Decrypt, their mission is to unlock universal ownership and exchange.
The biggest DEX but not only!
Uniswap is the largest decentralized exchange present in the ecosystem. According DeFi Llama, the platform commands nearly two-thirds of the total market volume. As for the native token of the protocol, its market capitalization is close to $5 billion despite the price drop.
Recall that during the bullish peak of last year, its market capitalization exploded and rose above 22.5 billion dollars. But that’s not all ! The Uniswap DAO has the largest treasury of any decentralized autonomous organization in the crypto sector.
According to DeepDAO, the latter would amount to 2.7 billion dollars. However, the major card of the startup is undoubtedly the goal it has set itself. Namely, the integration of the ability to exchange value.
Uniswap Labs is currently on a roll and nothing seems to be able to stop the organization. Indeed, in addition to raising funds, she announced last month that she would create the Uniswap Foundation. The latter is an entity that will develop the ecosystem of the decentralized crypto exchange. In September, the first round of grants already totals $1.8 million.
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