What’s next for DeFi pioneer Uniswap?

by Coinworldstory

The decentralized exchange Uniswap announced the news of the B round of financing, and received a huge financing led by Polychain Capital, mainly for product development. At the same time, the governance proposal of Uniswap deployed on zkSync was also passed today, which is the first Layer 2 expansion plan using ZK-Rollup technology.

Development of Uniswap after financing

Uniswap’s Series B round was led by Polychain Capital, with participation from a16z crypto, Paradigm, SV Angel and other investors, raising a total of $165 million.

Its founder Hayden Adam said that the funds will be used to expand the product field, such as the NFT aggregator to be launched in the future to liberate the transaction mechanism between tokens and NFTs, as well as grants for the Uniswap Foundation, and to promote Uniswap for more people to use.

In addition, Uniswap is not yet profitable and aims to achieve financial sustainability in the next few years.

Fortune Magazine Interview with Hayden Adam

Since Hayden Adam launched Uniswap in 2018, it has generated $1.2 trillion in transaction volume, and at a time when the overall economic environment is so depressed, Uniswap can obtain such a large amount of financing, which is undoubtedly a great affirmation for the DeFi industry.

According to Fortune Magazine’s interview with Hayden Adam :

“For us, the industry is proving itself, and we are seeing its value. Especially in a bear market where a lot of centralized infrastructure fails, many decentralized protocols are more popular.”

In the interview, Hayden Adam also talked about Uniswap Labs’ focus on developing services that make Web3 easier for non-technical people to use, which he sees as a challenge to the early days of the Internet, when onboarding tools were unwieldy and unintuitive.

Finally, when it comes to the point of decentralization, Hayden Adam stated that decentralization will be the key to reducing catastrophic hacking incidents. 

He pointed out that in the recent hacking incidents, the most serious ones are mostly for cross-chain bridges, which can help users transfer assets between different blockchains, but in Hayden Adam’s point of view, it is also a centralized service .

Therefore, he suggested building more decentralized services following the Bitcoin model, and relying on secure code and strict auditing to protect project development. Under this model, Uniswap can continue to operate even if it decides to resign from its current position in the future.

Uniswap will deploy Uniswap V3 on zkSync

The governance proposal on whether Uniswap should deploy Uniswap V3 on zkSync has been approved by high votes today.

Matter Labs, the zkSync development team, will be authorized to deploy Uniswap V3 on zkSync, which is the first network ecosystem to adopt ZK-Rollup technology. The overall workflow is expected to be 4-6 weeks.

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