UniSwap raises 165 million funds

UniSwap creator Hayden Adams just announced a $165 million fundraising round raised by the DEX. UniSwap was launched in 2018 and quickly became a benchmark in DeFi despite some platforms trying to overshadow it.

In the heart of a bear market, UniSwap announces a historic fundraising. UniSwap has closed a Series B funding round led by Polychain Capital and with participation from longtime investors a16z crypto, Paradigm, SV Angel and Variant. This fundraising presents a record for DeFi.

“We are proud to announce that we have raised $165M in Series B funding to bring the powerful simplicity of Uniswap to even more people around the world.”

Uniswaps Labs

In just a few years, the Uniswap platform has become an “essential public infrastructure for the exchange of digital value” with a total of over $1.2 trillion in trading volume. However, this does not allow Uniswap to be profitable to date according to Hayden Adams at Fortune media. This is why this historic funding is important for the platform, it will allow it to expand its product offering and become more financially viable in the long term. In particular by becoming more established in the web3.

“Web2 is about competing to control users, while Web 3 has the ability to compete by empowering users.”

Hayden Adams

Uniswap had also announced that it wanted to reform its web application, which will not have any major changes, however. The protocol will remain the same. Users will, however, be able to benefit from a lot of real-time information on cryptos, which will make the swapping experience more pleasant. This fundraising will also allow Uniswap to release non-fungible tokens or NFTs.