Uniswap gets into subsidies – Uniswap is the largest decentralized Ethereum exchange. As of recently, the protocol has been overseen by the Uniswap Foundation. Shortly after its creation, it went straight into action by making a first round of grants.
The Uniswap Foundation
At the beginning of August, Devin Walsh announced on the Uniswap forum the desire to create a Uniswap Foundation. Its goal is to support the decentralized growth and sustainability of the protocol.
Subsequently, the proposal was put to the vote via the governance module. Thus, on August 24, after deliberation by the community, the proposal to create the Uniswap Foundation is adopted.
In total, the Foundation will obtain 74 million UNI tokens to finance its activity and actions. Of these 74 million, 60 million are dedicated to funding the Uniswap Grand Program, Uniswap’s grant program. The remaining 14 million UNI will cover the operational cost of the Foundation.
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First wave of subsidy
Barely a month after its creation, the Uniswap Foundation is already making headlines.
For this first wave of funding, the Uniswap Foundation will allocate $1.8 million. A total of 14 projects operating in 3 areas will benefit from this grant:
- The evolution of the protocol (oracles, data analysis, etc.);
- The growth of the communityparticularly in South America, Africa and Canada;
- Governance managementwith an in-depth look at delegations and how to improve governance.
In practice, grants range from $1,000 to $820,000 depending on the size of the project to subsidize.
$1.6 million grant for Uniswap Diamond
Thus, the Uniswap Diamond project, widely put forward for this wave of grants, obtained no less than $1.6 million, with two grants of $800,000.
“Uniswap has achieved dominance in the DEX space, but only holds about 1% of the entire crypto exchange market. Uniswap Diamond aims to increase this share by directly competing with major centralized exchanges in user experience and data. Traders will benefit from many useful and familiar features of an off-chain exchange while retaining the benefits of being decentralized and on-chain. »
Therefore, Uniswap Diamond obtained $808,725 for the creation of an API and an SDK linked to Uniswap. These developments are considered as “a key piece of infrastructure for developers”.
In addition, Uniswap Diamond received an additional $820,800 for the creation of an analytical interface dedicated to professionals.
It remains to be seen how the community will welcome this initiative. Indeed, at the time of the first announcements, many community members did not see the point of creating a Uniswap Foundation.
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All UNI – The Uniswap Foundation unveils a generous grant program
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