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Source: Uniswap Uniswap Labs, the company behind one of the world's leading decentralized exchange s, has announced the company has raised some $165 million in Series B funding. The funding round was led by California-based Polychain Capital, with participation from longtime investors Andreessen Horowitz (a16z), Paradigm, SV Angel, and Variant. The latest development brings the company's valuation to some $1.66 billion. “As Uniswap Labs focuses on products, a much broader ecosystem continues to grow and thrive beyond what any one company can do on their own,” Hayden Adams, the CEO, and founder of Uniswap Labs, said in a statement.  “As an example, the governance community recently voted to create the Uniswap Foundation, which will contribute to the Protocol’s decentralized development and give at least $60 million in grants to community projects over the next few years,” according to Adams.  Commenting on Uniswap’s gro...

Uniswap’s $165 million in Series B funding was led by Polychain Capital. Also with participation from longtime investors a16z crypto, Paradigm, SV Angel, and Variant. As Uniswap Labs focuses on products, a much broader ecosystem continues to grow and thrive beyond what any one company can do on its own. As an example, the governance community recently voted to create the Uniswap Foundation. It will contribute to the Protocol’s decentralized development and give at least $60 million in grants to community projects over the next few years. The Uniswap Protocol is an open-source protocol for providing liquidity and trading ERC20 tokens on Ethereum. It eliminates trusted intermediaries and unnecessary forms of rent extraction, allowing for safe, accessible, and efficient exchange activity. The protocol is non-upgradable and designed to be censorship resistant. How does Uniswap Protocol work? Uniswap is an automated market maker. In practical terms, it is a collection of smart co...