$1.8M is being provided in a grant from the Uniswap Foundation.

The Uniswap Foundation, which oversees the development of the world’s largest DEX, has announced its first funding round of nearly $1.8 million.

According to the initial statement, the grants are scaled and functional and divided into three categories: protocol development, community development and management mentorship.

Uniswap Diamond is hailed as one of the largest projects funded by Uniswap Grants. This activity is expected to benefit all interested parties.

The goal is to create a professional trader and LP. It’s about improving communication, increasing business share and simplifying growth and market research across the chain. The SDK and API are introduced for historical and current on-chain statistics, which is expected to be a key feature for programmers building on Uniswap, professionals and end-users alike.

Diamond includes Pro functionality intended to increase Uniswap’s market share among the many Pro customers who are already comfortable with traditional centralized functionality. Despite being the dominant DEX, Uniswap only accounts for about 1% of the entire virtual currency trading community. Uniswap Diamond, for its part, intends to increase its market share by increasing competition with popular centralized systems in terms of user experience and data.

The fund is being developed by GFX Labs, a cross-chain leadership research firm that has been a Uniswap funder since its inception. The legendary GFX team was one of the first to cash in on v3.

In addition to Diamond, popular exchanges include Numoen, Decentralized Volatility Oracle, and Uniswap.fish.

Strengthen management

Last month, the Uniswap Foundation’s landmark project to simplify the Uniswap Grant Program and reduce stress in the system’s management system came to fruition. The original proposal received over 99% positive ratings from UNI owners.

Devin Walsh, a recently fired Uniswap colleague, presented the idea and previously stated that the group is moving at a fast pace and has also addressed concerns such as expanding its talented workforce, continuously improving Uniswap’s funding system and strengthening its governance structure. .

Devin Walsh, who came up with the original concept with Ken Ng, wrote on Twitter that their proposal to form the Uniswap Foundation had passed the resolution. Ng and Walsh are both Uniswap public and long-time Uniswap Lab executive participants.

According to an application submitted to the Uniswap management message board on August 4, the Uniswap Foundation strives to improve leadership by removing the misunderstandings around Uniswap and returning to promising and impactful projects.

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