Foundation series

Uniswap Foundation to Distribute $1.8 Million in Grants to 14 Beneficiaries CryptoGlobe

The Uniswap Foundation (UF), the group behind the decentralized exchange (dex) Uniswap, announced the first wave of foundation grants on Wednesday as it plans to distribute $1.8 million in total, spread out of 14 grants. The UF announcement details that a touch of over $800,000 will be awarded to Uniswap Diamond, a project being built by GFX Labs.

Uniswap will distribute $1.8 million to 14 different projects

On September 21, the Uniswap Foundation announced the first wave of grants aimed at strengthening the decentralized finance (defi) ecosystem and advancing research and development. According to UF, the foundation will distribute $1.8 million in the form of 14 grants, with the Uniswap Diamond Project receiving the largest sum. The Uniswap Diamond project is being worked on by GFX Labs and it will get a total of $808,725 over 3 installments. UF says the project is “one of the most ambitious initiatives ever funded by Uniswap grants.”

The other grants will go to projects like Uniswap.fish (formerly Uniswap Calculator), a Uniswap data mining tool, a constant function market maker called Numoen, and a Uniswap v3 development course. UF clarifies that the size and scope of the grants have been broken down into three different categories, namely:

  • Protocol Growth, including a decentralized volatility oracle and data analysis tool that extracts data from the Uniswap subgraph into a CSV file.
  • Community Growth, including a Uniswap v3 development course and events in Latin America, Africa and Canada.
  • Governance Stewardship, including a deep dive into the state of the Uniswap delegation, which will result in a series of recommendations to improve governance.

Additionally, Uniswap Community Grants will be awarded to promote the challenge in Latin America and Africa. This includes a “series of events, workshops and gatherings” in Latin America and “sponsorship of the Ghana Crypto and Defi Summit 2022”. UF further explains that a grant is given to the Phi Metaverse, to “support the creation of Uniswap-specific assets and quests in-game.” Another grant will be used to sponsor the Ignition Hacks virtual hackathon and another will go to a governance management solution called holdim.

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What do you think of the Uniswap Foundation distributing $1.8 million in grants to 14 different beneficiaries? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Manager at Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.




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