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The Uniswap Foundation aims to secure an additional $62 million in funding.

Uniswap, a decentralized exchange (DEX), has proposed an on-chain vote to approve the second tranche of funding for Uniswap Foundation’s developer.

The announcement on September 27 states that the estimated value of the second tranche is around $62 million, with a 10% buffer to account for price volatility.

The on-chain vote is scheduled for October 4.

If the vote receives approval, they will use the funds for operational expenses and research grants.

The Uniswap Foundation’s primary objectives include boosting core protocol metrics, fostering innovation through a pipeline of projects, and aligning incentives for stakeholders of the popular DEX.

As part of their plans for the upcoming year, developers intend to develop a software development kit for Uniswap v4 and support its subsequent migration.

They allocated the first tranche of funding, which amounts to $17.3 million, for this purpose.

The decision to split the funding request into two tranches allowed the Uniswap Foundation team sufficient time to establish its legal entity and obtain nonprofit 501(c)4 status from the Internal Revenue Service.

According to reports, they completed this process in the spring before they received the larger payment.

Decentralized exchange (DEX) Uniswap

In the past year, the Uniswap Foundation has shared key financial insights.

The Uniswap Foundation funded research grants with $4.8 million, while they allocated $3.15 million to support operations.

However, due to the market decline of UNI tokens during the period between the initial governance proposal and fund receipt, there was a loss of $1.29 million in capital.

Notably, the Foundation still possesses $53.2 million in grants capital available for distribution.

Developers have outlined plans to disburse between $10 million and $15 million per year, with an anticipated increase in the disbursed amount over time.

These efforts aim to further support research initiatives and promote the growth of the Uniswap ecosystem.

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