DeFi exchange Uniswap records $20 million in trades last week

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Ryan Sean Adams, the Founder of cryptoasset investment firm Mythos Capital, revealed via Twitter that Uniswap, a permissionless, peer-to-peer crypto exchange protocol, recorded approximately $20 million in trading volume last week.

A permissionless exchange protocol developed by a single developer generated $20m in trade volume last week.

Adams, a former healthcare professional, also mentioned that Uniswap was created by a single developer and was launched only six months ago.

In April 2019, Hayden Adams, the creator of the Ethereum-based Uniswap Exchange protocol, explained how he launched a company dedicated to building decentralized finance products.

The mechanical engineering graduate from Stony Brook University also confirmed that Uniswap's seed round was closed last month.

2/. Uniswap started as a side project for me.

Fred Ehrsam, a board member at Coinbase and the Co-Founder of Paradigm, a newly launched crypto investment fund backed by Yale University, will reportedly be working with Adams to further develop the Uniswap protocol.

Per the Uniswap Founder, the DeFi project began as "a side project" and also as a way for him to learn the skills needed to successfully transition from working as a mechanical engineer to a blockchain developer.

According to DeFi pulse, there are currently around $15.8 million locked into Uniswap's contracts.

Data from DeFi pulse also shows that the Decentralized Finance ecosystem is presently valued at over $530 million.