Uniswap Labs Has Secured New Funding Totaling More Than $100 Million
The de facto foundation of the Uniswap Protocol, Uniswap Labs, is apparently getting ready to attract $100 million to $200 million in venture money.
According to TechCrunch, Hayden Adams, the man behind the Uniswap Interface, is collaborating with a Singapore sovereign fund and the investment company Polychain, which specializes in cryptocurrencies.
The estimated post-fundraise worth of Uniswap Labs is $1 billion
This estimate is subject to alter pending negotiations as the capital raising moves to a later stage.
Prior to this, Andreessen Horowitz led a $11 million Series A investment in which Paradigm Venture Capital, Union Square Ventures, and ParaFi also invested in Uniswap Labs.
Its most recent actions to seek funds probably reflect ambitions to increase the scope of its services.
One of the biggest decentralized cryptocurrency exchanges, the DeFi protocol now holds a 47.2% market share.
The Uniswap community has been thinking about money generation plans recently in order to maintain the protocol’s long-term growth.
Uniswap’s community governance overwhelmingly endorsed a proposal to switch fees earlier in July, but not much has happened since then.
A 10% fee would be applied to that percentage of the chosen pools, the lowest allowed by the code, which is 0.05% of DAI-ETH, 0.3% of ETH-USDT, and 1% of USDC-ETH. The fee switch provided a pilot chance to test fee parameters in these liquidity pools.
The decision by Uniswap Labs to collect money at this time may also be a strategy for reducing the risks associated with the trial.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
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Blockchain
Uniswap Labs Has Secured New Funding Totaling More Than $100 Million
The de facto foundation of the Uniswap Protocol, Uniswap Labs, is apparently getting ready to attract $100 million to $200 million in venture money.
According to TechCrunch, Hayden Adams, the man behind the Uniswap Interface, is collaborating with a Singapore sovereign fund and the investment company Polychain, which specializes in cryptocurrencies.
The estimated post-fundraise worth of Uniswap Labs is $1 billion
This estimate is subject to alter pending negotiations as the capital raising moves to a later stage.
Prior to this, Andreessen Horowitz led a $11 million Series A investment in which Paradigm Venture Capital, Union Square Ventures, and ParaFi also invested in Uniswap Labs.
Its most recent actions to seek funds probably reflect ambitions to increase the scope of its services.
One of the biggest decentralized cryptocurrency exchanges, the DeFi protocol now holds a 47.2% market share.
The Uniswap community has been thinking about money generation plans recently in order to maintain the protocol’s long-term growth.
Uniswap’s community governance overwhelmingly endorsed a proposal to switch fees earlier in July, but not much has happened since then.
A 10% fee would be applied to that percentage of the chosen pools, the lowest allowed by the code, which is 0.05% of DAI-ETH, 0.3% of ETH-USDT, and 1% of USDC-ETH. The fee switch provided a pilot chance to test fee parameters in these liquidity pools.
The decision by Uniswap Labs to collect money at this time may also be a strategy for reducing the risks associated with the trial.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
CoinCu News
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