Uniswap Community Votes to Create First-time Foundation

The foundation will support decentralized growth and the long-term sustainability of Uniswap

article-image

Blockworks exclusive art by axel rangel

share

key takeaways

  • Hiring for Uniswap Foundation members has already begun
  • “We recognize holding this role is a big responsibility and we do not take that lightly,” Devin Walsh said

Uniswap community members have voted to create the Uniswap Foundation, an organization that will support decentralized growth and long-term sustainability of their namesake protocol. 

The Uniswap Foundation will be an independent entity that will focus entirely on supporting the decentralized exchange’s protocol and ecosystem. 

The proposal to create the Uniswap Foundation was submitted by Uniswap community members Devin Walsh and Ken Ng, and voting on the ended August 2, with overwhelming support from UNI token holders. 

“We are thrilled about the support the foundation has received from the community thus far and have been so energized by the conversations we have had over the past few months,” Walsh told Blockworks. 

Loading Tweet..

“That being said, we recognize holding this role is a big responsibility, and we do not take that lightly. We look forward to building strong relationships with as many community members as possible and to welcoming in new high-value contributors as well,” she said.

The foundation wants to reduce governance friction at Uniswap for high-impact and high-value projects and improve navigation in the ecosystem and has requested 2.5M UNI tokens to participate in governance at the protocol. 

It is also requesting $74 million from the DAO’s $3.4 billion balance sheet, which will be divided into two disbursements: $20 million will be allocated to operating expenses and grants over the next to years, and $54 million handed out by the Uniswap Treasury after the foundation establishes its legal entity. 

Since passing the proposal, Walsh said the team at Uniswap Foundation is already hitting the ground running on its top priorities which include: building out its talent pool, scaling the Uniswap Grants program and reinvigorating the governance process. 

“We have already met dozens of amazing candidates, are excited to announce our next wave of grants shortly, and are looking forward to publishing our first set of RFPs and working with the community on improving the community governance process,” Walsh said.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png

Research

Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.

/

article-image

Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space

article-image

Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?

article-image

Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month

article-image

It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet

article-image

Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend

article-image

Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million