Uniswap Labs has begun preparing for its next investment round to expand its range of decentralized finance (DeFi) products and services.
Now the exchange is working with investors such as the Singapore-based Polychain fund. If the company manages to raise the necessary funding, its valuation will rise to $1 billion. The new capital will go to expanding the DeFi toolkit and projects related to non-fungible tokens (NFTs).
“We consider it our goal to create a universal platform for storing and exchanging digital assets. If you give people a convenient opportunity to exchange valuable items and attract more people to your community, then sooner or later your project will grow and attract even more people, ”says Mary-Catherine Lader, one of the top managers of Uniswap Labs .
In July, one of the Uniswap v3 protocols encountered a phishing attack aimed at collecting personal data in order to steal cryptocurrency from users’ wallets. As a result of the hack, hackers managed to steal $4.7 million worth of ETH.
Currently, the daily trading volume on the exchange is more than $1 billion – that is, 57% of all trading on global DEXs. So far, no one has achieved such indicators from decentralized crypto exchanges.
The exchange previously said that it fully supports Ethereum’s transition to a new algorithm of operation as a method of reducing the harmful impact on the environment and scaling the blockchain.
Source: Bits
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