{"id":23738,"date":"2023-09-27T18:05:05","date_gmt":"2023-09-27T18:05:05","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/uniswap-foundation-requests-62-37m-to-fund-ecosytem-growth\/"},"modified":"2023-09-27T18:05:05","modified_gmt":"2023-09-27T18:05:05","slug":"uniswap-foundation-requests-62-37m-to-fund-ecosytem-growth","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/uniswap-foundation-requests-62-37m-to-fund-ecosytem-growth\/","title":{"rendered":"Uniswap Foundation requests $62.37M to fund ecosytem growth"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/uniswap-funding-us-dollars-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/uniswap-funding-us-dollars-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/uniswap-funding-us-dollars-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/uniswap-funding-us-dollars-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Uniswap Foundation is requesting for $62.37 million to support growth of the Uniswap ecosytem.<\/span><\/li>\n<li>An on-chain vote on the foundation\u2019s proposal will be taken on Wednesday, October 4, 2023.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The Uniswap Foundation has submitted a governance proposal requesting for $62.37 million funding as it looks to continue supporting the <a href=\"https:\/\/coinjournal.net\/news\/tag\/uniswap\/\">Uniswap\u2019s ecosystem growth<\/a>.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Uniswap Foundation eyes $62.37 million funding<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Today\u2019s <a href=\"https:\/\/gov.uniswap.org\/t\/governance-proposal-complete-initial-funding-of-the-uniswap-foundation\/21956\" target=\"_blank\" rel=\"noopener\">proposal<\/a> follows last year\u2019s request that asked for $74 million in funding to create the Uniswap Foundation. A governance vote granted the proposal, with funds split in two tranches as had been requested.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time, the idea was that the second of the tranches would be requested via an on-chain vote \u2013 which is what the UF has done.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201c<em>The reason for breaking our funding into two tranches was to allow for the UF to finalize the completion of its legal entity, and to formally receive non-profit 501(c)4 status from the IRS (and thus receive clarity on tax implications), prior to receiving the larger portion of funds. We are pleased to have received that status in Spring of this year<\/em>,\u201d said Devin Walsh, Executive Director and co-founder of Uniswap Foundation.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">10% more funds to mitigate price risks<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The initial proposal had the UF receiving $20 million in the first tranche, with 2,547,002 <a href=\"https:\/\/coinjournal.net\/news\/tag\/uni\/\">UNI tokens<\/a> requested. However, a 13.7% dip in the price of UNI after the request \u2013 from $8.14 to $7.05 \u2013 saw the group receive only $17.3 million.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To mitigate any potential price volatility, the foundation wants the final share of the funding to have a 10% buffer. This means adding an extra $5.67 million to the $56.7 million that remained from the $74 million granted. The UF has thus asked for $62.37 million, setting a one week on-chain vote for the proposal on Wednesday, October 4.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to Walsh, the Uniswap Foundation plans to use the money to support the Uniswap ecosystem, splitting the $56.7 million into two categories \u2013 operations and grants. The funds will be used in employee compensation packages, developer support, providing a 6-month runway in cash and investment in low-risk yield bearing assets.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/uniswap-foundation-requests-62-37m-to-fund-ecosytem-growth\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Uniswap Foundation is requesting for $62.37 million to support growth of the Uniswap ecosytem. An on-chain vote on the foundation\u2019s proposal will be taken on Wednesday, October 4, 2023. The Uniswap Foundation has submitted a governance proposal requesting for $62.37 million funding as [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":23739,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23738"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23738"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23738\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23739"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}