Overview
Decentralized exchange Uniswap is looking to secure an additional $62 million in funding for its developer, Uniswap Foundation. The funds will be used for operations and research grants, as the foundation aims to grow its core protocol metrics, foster innovation, and align incentives for stakeholders of the popular DEX.
On-Chain Vote
An on-chain vote is scheduled for October 4 to decide whether the second tranche of funding, which includes a 10% buffer for price volatility, will be approved. If given the green light, the funding will support the foundation's goals.
Software Development Kit and Migration
The Uniswap Foundation plans to develop a software development kit for Uniswap V4 in the coming year and support its subsequent migration. The first tranche of $17.3 million has already been allocated for this purpose. Splitting the funding request into two tranches allowed the foundation more time to register its legal entity and obtain non-profit 501(c)4 status from the Internal Revenue Service.
Previous Spending
Over the past year, Uniswap Foundation has disclosed $4.8 million in research grants, $3.15 million for operations, and a $1.29 million loss on capital. The loss was attributed to the market decline of Uniswap (UNI) tokens between the initial governance proposal and receipt of funds. The foundation still has $53.2 million remaining to disburse, with plans to distribute $10-$15 million per year, increasing over time.
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