Uniswap, a decentralized exchange where users buy and sell crypto, has long been the standard bearer in the world of decentralized finance, or DeFi. However, Maverick Protocol, an upstart decentralized exchange, looks to challenge Uniswap's dominance.
On Wednesday, Maverick announced that it's raised $9 million in a seed round led by Founders Fund. Other participants include Binance Labs, Coinbase Ventures, Pantera Capital, and Apollo Crypto. Alvin Xu, a cofounder of Maverick Protocol, declined to provide a valuation.
