2024

Uniswap

Million

Foundation

<div class="dailyhodl">
 <p>The foundation behind crypto’s leading decentralized exchange (DEX) is disclosing its crypto assets as a governance vote for a new fee mechanism approaches.</p>
 <p>In a new&nbsp;blog post, the Uniswap Foundation has shared its 2024 first-quarter financials in a show of transparency with the Uniswap (UNI) token-holding community.</p>
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 <p><em>“On March 31, 2024 we had $41.41 million in USD and stables on hand and UNI 0.73 million (in UNI). The fiat (USD) cash and stables&nbsp;are to&nbsp;be used&nbsp;for grant-making and operating activities&nbsp;and&nbsp;the UNI for employee token awards. The expected runway was through the end of 2025 and&nbsp;was earmarked&nbsp;as follows.</em></p>
 <p><em>Grants commitments and incentives: $25.77 million to be disbursed in 2024 and 2025. $2.94 Million was reserved for grants committed previously, to be disbursed. The remaining $12.7 million was to be used to fund operations expenses through the end of 2025.”</em></p>
 <p>The anouncement expands on how the Uniswap Foundation has committed over $4 million in grants, in addition to disbursing nearly $3 million in committed grants. The financial summary also shows that the Foundation incurred $1.03 million in operating expenses.</p>
 <p>The financial revelations come as a&nbsp;Uniswap community governance vote regarding a potential new autonomous fee collection system approaches this Friday, May 31.</p>
 <p>The proposal <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a> a novel mechanism for future votes which aims to make fee adjustments more dynamic, reduce the burden on Uniswap Governance and to maintain the protocol’s “credible neutrality.”</p>
 <p>The Uniswap Foundation first&nbsp;introduced the new fee mechanism to the community&nbsp;back in February&nbsp;to boost UNI token holders’ participation in governance votes.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/uniswap-foundation-reveals-unaudited-summary-financials-as-vote-for-new-fee-mechanism-approaches-tbt90061.html">https://thebittimes.com/uniswap-foundation-reveals-unaudited-summary-financials-as-vote-for-new-fee-mechanism-approaches-tbt90061.html</a></p>

Uniswap Foundation Reveals Unaudited Summary Financials As Vote for New Fee Mechanism Approaches

TheBitTimes

Other articles published on May 27, 2024

Catch the MoonWave: MoonBag Presale Rockets Past Theta and the Billion Dollar Jackpot!

Top Altcoins for Explosive Growth in 2024

EthosX Launches New Perpetual Options Product (27 May)

Manila Hosts Successful Philippines Traders Fair 2024, Bringing Global Financial Leaders Together

AI Homework Apps Compete with US Tutoring Companies

Argentina Taps El Salvador’s Bitcoin Strategy Amid Growing Crypto Adoption

Join our free newsletter for daily crypto updates!