Out of these applications, Uniswap - originated by Uniswap Labs - has become the most actively used. It is the largest decentralized exchange (DEX), allowing anyone to create a market for anything, rather than relying on specific teams to be market-makers in an exchange.

Despite the behemoth size of its star asset, Uniswap Labs does not make money from Uniswap, as it is just a protocol with the 0.3% fee going to reward liquidity providers. The company instead relies on adjacent ways to drive revenue, leveraging its massive influence in the DeFi space to do so.

The company has secured impressive funding, including a 2022 Series B round which represented one of the largest raises in the DeFi sector's history. Now boasting a valuation of $1.66 billion, it intends to invest in expanding operations to bring Uniswap to “even more people across the world.”