Due to the increased valuation of Uniswap to $1.66 billion, UNI has gained 14.2 percent in the past day. Hayden Adams, Uniswap’s founder, has announced an important upgrade to the decentralized exchange on the company’s official blog. As of this writing, UNI is trading at $6.28, down 8.6 percent in the last seven days, data from Coingecko show, Friday. Polychain Capital’s most recent funding round is largely responsible for the increase in valuation. Existing investors such as Paradigm, Variant, SV Angel, and a16z crypto also took part in the Series B investment round. The money, the article claims, will be used to strengthen the ecosystem overall, notably in terms of security. Related Reading: Who Shines Brighter? Solana Beats Altcoin King Ethereum In This Key Area Web3, Here It Comes The investment round, which is the next funding round Uniswap has had in the past few years, was first disclosed back in September. Back in August of 2020, Uniswap Protocol received its initial round of funding. By expanding their web app and developer tools, introducing NFTs, entering the mobile market, and other initiatives, Uniswap Labs hopes to make the Uniswap Protocol accessible to a wider audience. Uniswap’s official Twitter account also informed its fans of the news. This infusion of capital will make Uniswap Protocol competitive in the DEX market, allowing it to compete with Binance and Coinbase. The improvement ...
