Just over a year ago, we raised a seed round from Paradigm in order to advance research and development of the Uniswap protocol and other decentralized products on Ethereum.
The Uniswap protocol is now one of the most widely-used platforms on Ethereum, with approximately $1.5B in volume in July 2020 alone. While this indicates initial protocol-market fit, we are even more excited for what comes next.
Today, we're thrilled to announce that we have raised $11M in Series A funding led by Andreessen Horowitz with additional investments from USV, Paradigm, Version One, Variant, Parafi Capital, SV Angel, and A.Capital.
This investment round will help us grow our team to build Uniswap V3, which will dramatically increase the flexibility and capital efficiency of the protocol.
We can't wait to present our design to the Ethereum community in the coming months.
Job postings for engineers and a community manager are already up, and more will be posted over the coming months.