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>
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 <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>
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<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

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