Monday, July 22, 2024

Uniswap Labs Aims to Raise up to $200 million, Plans to Expand Offerings.

Uniswap Labs, the parent firm of the world’s largest decentralized exchange, is preparing to raise a venture capital round of up to $200 million. Hayden Adams, the creator of the Uniswap Interface, is working with a crypto-focused investment firm Polychain and a Singapore sovereign fund. Uniswap Labs, post the fundraise, will be valued at $1 billion.

The final valuation is slated to change pending negotiations once the capital raise progresses to later stages. The firm had earlier raised $11 million in a Series A round which was led by Andreessen Horowitz and participation from Union Square Ventures, Paradigm Venture Capital, and ParaFi.

Uniswap Lab’s plans to raise $100 to $200 million, indicate its aspiration to further expand its offerings. The Uniswap community in recent months has been contemplating revenue generation strategies to sustain the DeFi protocol’s long-term growth. It should be noted that in the month of July, overwhelming support from Uniswap’s community governance to switch fees gained momentum. However, little has been done since then. Insiders said the fee switch was a pilot opportunity to test fee parameters in selected liquidity pools, including 0.05% of DAI-ETH, 0.3% of ETH-USDT, and 1% of USDC-ETH, wherein a 10% fee would be applied to that percentage of the selected pools – the lowest portion the code allows.

The ensuing value accumulated would remain with the protocol before governance decides on where they should be allocated.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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