Uniswap Foundation requests $62M to bolster development and hedge against volatility

The Uniswap Foundation has proposed a $62.37 million fund allocation, and an on-chain vote is scheduled for Oct. 4 to decide on it.

These funds are intended to strengthen various aspects of the Uniswap ecosystem, including developer support and research initiatives.

The foundation also mentioned plans to expand its Hooks ecosystem, designed for Uniswap v4, in the future.

In our initial UF proposal, we broke our funding request into two tranches.

We received our first portion last year. We are requesting the remainder of our funds in this post.

We will kick off the formal governance vote to send the remainder of funds next Wednesday 10/4.

— Uniswap Foundation (@UniswapFND) September 27, 2023

The upcoming vote is significant for Uniswap. The protocol is one of the largest decentralized exchanges (DEXs) by total value locked (TVL), DeFiLlama data shows.

Unlike last year’s $74 million funding, this year’s proposal includes a 10% buffer to protect against market fluctuations.

To ensure transparency, there will be a Twitter Spaces session on Oct. 2 to answer any questions regarding the proposal.

Uniswap’s Oku Trade platform has had 3,000 wallet interactions and 56,000 unique visitors since July. Partnerships, like the one with Gauntlet, aim to improve incentives and fees.

The research Institute has received 107 applications for its DeFi fellowship.

Additionally, 65 new delegates are participating in Uniswap’s governance initiatives.