Uniswap Foundation Seeks $62.37M in Second Funding Tranche

blockchain.news:

The Uniswap Foundation has formally requested a second tranche of $62.37M in funding, according to a proposal posted on the Uniswap Governance Forum on September 27, 2023. This request is part of a two-tranche funding strategy that was approved last year, initially securing $74M for the foundation. The latest proposal aims to fuel the foundation's ongoing efforts in ecosystem development, governance, and innovation.

Financial Overview

The foundation disclosed that it had awarded $4.8M in grants across five categories over the past year. Operational expenses amounted to $3.15M, largely in line with initial projections. The foundation also revealed that it holds 452,534 UNI tokens for employee vesting, valued at approximately $1.9M at current prices. The proposal includes a detailed financial breakdown, including a forecast that anticipates operational capital lasting until Q4 2024.

Achievements and Future Plans

The Uniswap Foundation highlighted its role in launching Oku Trade, a pro-trader interface, and Oku API, which provides comprehensive real-time historical data across pools, swaps, and positions. The foundation also mentioned its partnership with Gauntlet, focused on R&D to optimize incentive programs and fee design.

In addition to these initiatives, the foundation has been actively involved in research and development activities. They have sponsored hackathons, partnered with academic institutions, and funded research projects aimed at enhancing the Uniswap protocol. These efforts are part of a broader strategy to make Uniswap the default platform for decentralized finance (DeFi) activities.

Governance and Regulatory Compliance

The Uniswap Foundation has also been proactive in governance and regulatory