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Exciting times for DeFi (decentralized finance) with portfolio company UMA listing its decentralized governance token on the decentralized exchange Uniswap, the first ever Initial Uniswap Offering (IUO).
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"Instead of catering to centralized exchanges or seeking illiquid and bespoke private market valuations, the UMA protocol used Uniswap for initial price discovery of its UMA token today. This attempt at novel and low-cost price discovery will allow the UMA protocol to capitalize itself from here, and we'll be interested to see how UMA progresses as new markets are added over time." Christopher Burniske, a partner at UMA investor Placeholder
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