Uniswap DAO grants $46.2M to Uniswap Foundation

This funding is the second part of initial funding promised to the NGO following its establishment

article-image

Brian A Jackson/Shutterstock modified by Blockworks

share

Uniswap Foundation (UF), a non-profit dedicated to supporting the growth and decentralization of the popular Uniswap DEX, will receive $46.2 million from the Uniswap DAO after a funding vote passed quorum.

Upon establishment, the UF received an initial $20 million from the Uniswap DAO to cover significant operating expenses and one year’s worth of grants. With this vote, the Foundation will now receive the additional funds it was promised 6-12 months after its legal establishment. 

Uniswap v3 is the largest decentralized exchange by total value locked (TVL) today. Information on DeFiLlama shows it currently has a TVL of almost  $2 billion, with a daily transaction volume of roughly  $341 million

“Last year, Uniswap governance approved the creation and initial funding of the Uniswap Foundation. Today we are requesting the remainder of our initial funding to support our next 2 years of work ($46.2M),” the UF wrote in a proposal.

Read more: Uniswap community votes to create first-time foundation

The proposal, which is scheduled to end voting on Oct. 18, has already passed quorum with an overwhelming majority of uniswap (UNI) token holders voting in favor of handing $46.2 million to the UF.

The UF will be delegated the $46.2 million through a smart contract by the Uniswap DAO. This smart contract will ensure that the DAO has the ability to claw tokens back via an additional vote. 

Over the past year, the UF has been focused on providing grants to ecosystem participants. It has so far completed 40 grants and has committed an estimated $4.5 million to different projects, according to a post on X

Most notably, it assisted in the launch of Oku Trade and Oku API, a frontend designed to offer user experiences that match that of a centralized exchange. 

It was also involved in a partnership with Gauntlet to build a Dynamic Incentive Optimization engine to determine incentive strategies for automated market makers (AMMs).

Read more: What has Uniswap Labs cooked up for v4?

Following the receipt of the rest of its initial funding, the UF will be focused on growing projects that are building hooks on Uniswap v4, as noted in a forum post. 


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Permissionless is a conference for founders, application developers, and users. Come meet the next generation of people building and using crypto.

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

4.png

Research

This months PPGC covered four main areas. Firstly, debriefing the progress and status of the mainnet implementation of the Ahmedabad hard fork. Secondly, a retrospective on the testnet phase of the Ahemdabad Hard Fork. Thirdly, an update on PIP-36 which involves replaying failed state syncs. Lastly, PIP-47 which pushes upgrades to the Polygon Protocol Council.

article-image

Institutions to test out the settlement of “digital assets and currencies” on a network that annually carries more than 5 billion financial messages

article-image

After Bitwise’s XRP ETF filing this week, one industry watcher notes: “Politics will determine whether this happens soon or in a few years”

article-image

Plus, a look back at some of the SEC’s biggest enforcement moves under Gurbir Grewal

article-image

The forward-looking financial system is being championed by several contributors to India’s UPI digital money system

article-image

Multiple teams are pursuing integration cross-chain and off-chain

article-image

An SEC spokesperson told Blockworks the Ripple judgment clashes with Supreme Court precedent and securities laws