The Uniswap Foundation, which oversees the popular cryptocurrency exchange Uniswap, has released its financial summary for the first quarter of 2024.
Financial Snapshot
As of March 31, 2024, the foundation had:
- $41.41 million in cash and stablecoins
- 0.73 million UNI tokens
The funds are allocated as follows:
- $25.77 million for grants and incentives
- $2.94 million for committed grants
- $12.7 million for operating expenses
Grant Commitments
The Uniswap Foundation has committed over $4 million in grants and disbursed nearly $3 million in committed grants.
Operating Expenses
The foundation incurred $1.03 million in operating expenses.
Upcoming Fee Mechanism Vote
The financial summary comes ahead of a community governance vote on May 31st regarding a new autonomous fee collection system. This proposal aims to streamline fee adjustments and reduce the burden on Uniswap governance.
Community Engagement
The Uniswap Foundation introduced the new fee mechanism in February to encourage UNI token holders to participate in governance votes.
