The Uniswap Foundation, the company behind the Uniswap decentralized exchange (DEX), is asking for an on-chain vote to approve the second installment of the $74 million investment.
The value of the second investment round, which includes a 10% safety margin for price fluctuations, was announced on September 27 and will be chosen by a blockchain vote on October 4. If the request for funding is successful, it will be utilized for grants for operations and research. The Uniswap Foundation is in charge of expanding key protocol measures, establishing an innovation pipeline, and coordinating stakeholder interests in the widely used DEX.
Following the initial investment of $17.3 million, developers have one year to create a software development kit for Uniswap v4 and provide migration support. According to the Uniswap Foundation, the larger lump payout was delayed until spring because the organization needed more time to form its legal company and gain nonprofit 501(c)4 status from the Internal Revenue Service.
There was a loss of $1.29 million in capital due to the fall in the value of UNI tokens between the time of the initial governance proposal and the receipt of cash, which was disclosed by the Uniswap Foundation. The UF still has $53.2M in grant capital. Developers noted that they “plan to disburse $10-$15M annually, with the amount disbursed per year increasing over time.”