Founded in 2018, Uniswap is a decentralized network protocol-based cryptocurrency exchange. Using smart contracts, the protocol allows cryptocurrency token transactions on the Ethereum blockchain to be done automatically.
In the announcement of series B funding ,Founder Hayden Adams said , the firm will focus more on products of their wide ecosystem. “As Uniswap Labs focuses on products, a much broader ecosystem continues to grow and thrive beyond what any one company can do on their own. As an example, the governance community recently voted to create the Uniswap Foundation, which will contribute to the Protocol’s decentralized development and give at least $60 million in grants to community projects over the next few years.” He said.
Since its founding , Uniswap has supported USD 1.2 Trillion in trading volume while being a critical member of the crypto industry as a whole.
Uniswap has raised $165 million in Series B funding, led by Polychain Capital and with participation from longtime investors a16z crypto, Paradigm, SV Angel, and Variant.
“As Uniswap Labs focuses on products, a much broader ecosystem continues to grow and thrive beyond what any one company can do on their own. As an example, the governance community recently voted to create the Uniswap Foundation, which will contribute to the Protocol’s decentralized development and give at least $60 million in grants to community projects over the next few years.” He said
