When the bear market is there, companies take advantage of it to land, develop and invest. This is the case ofUniswap who is doing a lot of fundraising.
The unicorn launched at full gallop!
Announced by its creator himself, Hayden Adams, Uniswap has just achieved a substantial fundraising. The DEX has raised over $165 million.
Launched in 2018, the platform quickly became a reference when DeFi literally exploded, becoming an ecosystem standard.
« When I built the Uniswap protocol in 2018, it was an experiment to see if I could create something that fully embodied the values of Ethereum: transparent, secure, and accessible. Since then it has grown and evolved in ways I never imagined. It has supported $1.2 trillion in transaction volume to date and has become an essential public infrastructure for the exchange of digital values. »
It’s to continue l’expansion of the platform, and add new features that Uniswap has decided to launch this fundraiser.
« To support this growth, I am thrilled to announce that we have raised $165m in Series B funding, led by Polychain Capital and with participation from long-time investors a16z crypto, Paradigm, SV Angel and Variant.»
Hayden Adams does not give many details on the future features that will arrive thanks to this substantial budget. However, he spoke of the foundation of Uniswap which is emerging.
« While Uniswap Labs focuses on products, a much larger ecosystem continues to grow and thrive beyond what one company can do on its own. As an example, the governance community recently voted to create the Uniswap Foundation, which will help with decentralized development of the Protocol and award at least $60 million in grants to community projects over the next few years. »
The price of the platform token, the UNI, immediately started a rise of almost 12% following the announcement.
UniSwap is an ecosystem heavyweight Web3 and more specifically DeFi. There is no doubt that with this fundraising and its future projects, its place will continue to expand exponentially.
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