Uniswap Raises $11 Million to Fund Uniswap V3

Uniswap Raises $11 Million to Fund Uniswap V3

By eatdostacos | eatdostacos | 9 Aug 2020

Not long after the release of Uniswap V2, which includes new trade pair types and much more, the Uniswap Team has raised $11 million to help fund the creation of Uniswap V3. This will be their next generation protocol for swaps on Ethereum.

A little over a year prior to this announcement, the team raised seed funds in order to work more on V1 and then V2. Uniswap V1 was the original proof of concept, with V2 adding many features and making the protocol better in many ways.

This funding is their Series A round led by Andreessen Horowitz and including many others including Paradigm, the investment firm that led Uniswap's seed round of funding.

Another part built into V2 was a toggle for a 0.05% fee that would give much more value to investors as they would be making a constant profit from the exchange. If this had been enabled, Uniswap would have made over $750k in July 2020.

I believe that this is a good sign for the future of Uniswap and decentralized exchanges. This money will be able to grow the team working on Uniswap, improve the product, and keep the protocol up for years to come.

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