According to four individuals familiar with the situation, Uniswap Labs is now in the preliminary stages of putting together a fresh round of funding as the parent company of the world’s largest decentralized exchange prepares to expand the scope of the services it provides.
According to two of the sources, the startup is currently in discussions with a number of investors, including Polychain and one of Singapore’s sovereign funds, in order to raise an equity round of between $100 million and $200 million at a valuation of approximately $1 billion. These sources, along with others who shared private information, asked to remain anonymous.
According to the sources, because the last phases of the round’s debates have not yet occurred, it is possible that significant changes will be made to the parameters of the contract. In response to a request for comment made on Thursday, Uniswap Labs chose not to comment while Polychain did not respond to the request.
The recent financing is an indication that Uniswap has ambitious aspirations to increase the services and products it provides. According to DeFi Llama, the decentralized exchange controls 64 percent of the total volume traded on DEX. In spite of the recent market decline, the market capitalization of the exchange protocol’s token has nearly reached $5 billion. (Over the course of the most extreme portion of the bull market that occurred the previous year, Uni’s market valuation topped $22.5 billion.)
