Uniswap Labs Seeks $100M-$200M Valuing Company at $1B

Uniswap Labs, the company behind the widely used decentralized protocol Uniswap, is planning to raise between $100 million and $200 million, which would value the company at approximately $1 billion. This information was reported on Friday, although it remains unconfirmed as neither Uniswap Labs nor the potential investors have made any official statements.

According to sources, the funding round is expected to be led by Polychain Capital, an American investment company, along with one of Singapore’s sovereign funds. The primary goal of this fundraiser is to expand the services offered by the Uniswap protocol. While the specific uses of the funds have not been detailed, it is speculated that Uniswap Labs may introduce features allowing its 4.2 million users to trade non-fungible tokens (NFTs) on the platform from various NFT marketplaces.

Uniswap has established itself as a dominant player in the decentralized finance (DeFi) ecosystem since its launch in 2020. The protocol currently holds over 56% of the entire decentralized exchange (DEX) market share, with a daily traded volume of around $1 billion. In July, it was reported that Uniswap accounted for 60% of the DEX market, recording a total of $145 billion in traded volume. The protocol achieved an all-time trading volume of over $1 trillion with four million users in May.

This fundraising effort is aimed at further bolstering Uniswap's position in the DeFi space. The protocol's significant market share and user base make it a key player in the decentralized exchange landscape. The potential expansion of services, particularly the addition of NFT trading capabilities, could attract more users and further solidify Uniswap's leadership in the DeFi ecosystem.