Uniswap Foundation (UF), the team behind decentralized exchange (dex) Uniswap, has announced its first foundation grants as it plans to distribute a total of $1.8 million across 14 grants. UF’s announcement details that a touch over $800K will be given to Uniswap Diamond, which is being developed by GFX Labs.
Uniswap to distribute 1.8 million dollars 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 the growth of research and development. According to UF, the foundation will distribute 1.8 million dollars in the form of 14 grants, with the project Uniswap Diamond receiving the largest amount. The Uniswap Diamond project is being developed by GFX Labs and will earn a total of $808,725 in 3 costs. According to UF, the project is “one of the largest initiatives funded by Uniswap”.
The other grants go to projects such as Uniswap.fish (formerly Uniswap Calculator), a Uniswap data mining tool, a fixed function market maker called Numoyen, and the Uniswap v3 development course. UF details the size and scope of the grants into three different categories, which include:
- Including protocol development, a decentralized flexibility dialog, and a data analysis tool that exports Uniswap subgraphs to a CSV file.
- Community development, including the Uniswap v3 development course and events in Latin America, Africa and Canada.
- Governance including a deep dive into Uniswap’s delegation status, which translates into a series of recommendations to improve governance.
In addition, Uniswap provides community-based support to promote DeFi in Latin America and Africa. This includes a “series of events, workshops and meetings” in Latin America and “sponsorship of the Ghana Crypto and DeFi Summit 2022”. UF also revealed that a grant is being made to “Phi Metaverse to support the creation of Uniswap’s unique in-game assets and missions.” Another grant sponsors a virtual hackathon called Ignition Hacks and another to a management solution. I got caught..
What do you think when the Uniswap Foundation distributes $1.8 million in grants to 14 different recipients? Let us know what you think about this in the comments section below.
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