Uniswap

Foundation

Read

The Uniswap Foundation revealed financial health in its latest report with $36.81 million in assets and millions in new grant commitments for Q2. 
The <a href="https://crypto.news/tag/uniswap/" target="_blank" rel="noreferrer noopener">Uniswap</a> Foundation, a non-profit organization dedicated to supporting the growth of Uniswap, has released its financial summary for Q2, as part of its ongoing commitment to financial transparency. In a <a href="https://uniswapfoundation.mirror.xyz/tfK6mZ0Csxq2TOTcSiRZowMkoPl5NWnW8z2dUxsVAZk" target="_blank" rel="">blog post</a> on Aug. 7, the foundation outlined that it held $36.81 million in cash and <a href="https://crypto.news/tag/stablecoin/" target="_blank" rel="noreferrer noopener">stablecoins</a>, with only 680,000 in <a href="https://crypto.news/price/uniswap/" target="_blank" rel="noreferrer noopener">UNI</a> tokens. 
The organization explained that cash and stablecoins are designated for grantmaking and operational activities, while the UNI tokens are reserved for “employee awards.” The foundation anticipates these funds will sustain its activities through the end of 2025, with allocations set at $26.12 million for grants and $10.69 million for operational expenses. 
 You might also like: <a href="https://crypto.news/polkadots-multi-million-marketing-expenses-spark-fury-in-blockchain-community/"> Polkadot’s multi-million marketing expenses spark fury in blockchain community </a> 
<figure class="wp-block-image size-full">
 <picture loading="lazy" decoding="async" class="wp-image-14289904"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/08/uihudhgfd.png.webp"> 
 <img loading="lazy" decoding="async" width="702" height="417" src="https://crypto.news/app/uploads/2024/08/uihudhgfd.png" alt="Uniswap announces Q2 financials report, reveals over $3m committed in grants - 15"> 
 </picture> 
 <figcaption class="wp-element-caption">
 Uniswap’s Q2 operating expenses | Source: <a href="https://uniswapfoundation.mirror.xyz/tfK6mZ0Csxq2TOTcSiRZowMkoPl5NWnW8z2dUxsVAZk" target="_blank" rel="">Uniswap Foundation</a>
 </figcaption>
</figure> 
In Q2, the foundation committed over $3.2 million in new grants and disbursed nearly $2.5 million from previously committed grants. 
In total, by June 30, the organization committed $7.55 million in grants for the year, with $5.27 million disbursed. Operating expenses for the quarter totaled $1.6 million, of which 8.2% were allocated to advertising and marketing, while payroll expenses and professional fees were allocated 47.9% and 35.2% respectively. 
 Read more: <a href="https://crypto.news/uniswap-monthly-fees-near-100m-as-platform-dominates-other-dexs/"> Uniswap monthly fees near $100M as platform dominates other DEXs </a>

Uniswap announces Q2 financials report, reveals over $3m committed in grants

crypto.news

Other articles published on Aug 7, 2024

Canadian Crypto Platforms Race To Meet Regulatory Deadline

Inside the Memecoin Mania of H1 2024

Ronin Network Hit with $11M Hack: Is the New Attack Another Blow or a Whitehat Rescue?

Bitcoin Miner Core Scientific’s Stock Rallies 12%

New Tonkeeper app enhances crypto asset security, preventing hacks

Bitcoin Crash Over? Veteran Trader Predicts Rebound To $90,000

Join our free newsletter for daily crypto updates!