Uniswap Labs, behind the DeFi protocol of the same name, has raised $165 million in a Series B funding round.

The round was led by venture capital firm Polychain Capital. Current investors represented by Andreessen Horowitz, Paradigm, SV Angel, and Variant became participants.

“When I launched the Uniswap protocol in 2018, it was an experiment to see if I could create something that embodies all the values of Ethereum: transparency, security, and accessibility. Since then, it has developed and grown in ways that I could not have imagined. Today, the protocol has a trading volume of $1.2 trillion and has become an important public infrastructure for the exchange of digital assets”

Project founder Hayden Adams said.

According to him, Uniswap Labs focuses on products that expand the ecosystem. This includes developer tools, NFT launches, mobile apps, and more.

Adams noted that the company launched a $60 million Uniswap Foundation grant program with community approval.

Recall that in September, the media reported that Uniswap Labs is in the early stages of negotiations to raise from $100 million to $200 million at a ~$1 billion valuation.

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