Uniswap Foundation (UF), the team behind decentralized exchange (dex) Uniswap, announced the first wave of platform funding on Wednesday as it expects a total distribution of $1.8 million, awarded for 14 grants. The UF announcement details that a touch of over $800k will be awarded to Uniswap Diamond, a project being built by GFX Labs.
Uniswap to disperse $1.8 million across 14 different projects
On September 21, the Uniswap Foundation announced the first wave of grants aimed at supporting the decentralized finance (defi) ecosystem as well as progressive research and development. According to UF, the fund will disperse $1.8 million in the form of 14 grants, and the Uniswap Diamond project will receive the largest amount. The Uniswap Diamond project is being built by GFX Labs and it will receive a total of $808,725 over 3 disbursements. UF said the project is “one of the most ambitious initiatives ever funded by Uniswap Grants.”
Other grants will be awarded to projects such as Uniswap.fish (formerly Uniswap Calculator), a Uniswap data extraction tool, a continuous function market maker known as Uniswap. Numoenand a Uniswap v3 development course. UF details that the size and scope of the grant is divided into three different categories, including:
- Protocol growth, including a decentralized volatility oracle and a data analysis engine that extracts data from the Uniswap subsite into a CSV file.
- Community development, including Uniswap v3 development course and events in Latin America, Africa and Canada.
- Governance Management, including a dive into the status of Uniswap authorization, will translate into a series of recommendations for improving governance.
Additionally, Uniswap community-based grants will be awarded to advance defi in Latin America and Africa. This includes “a series of events, seminars and gatherings” in Latin America and “sponsorship of the Crypto Summit and Defi Ghana 2022.” UF further explains that a grant is being awarded Phi Metaverse, to “support Uniswap’s creation of specific in-game content and missions.” Another grant will go towards funding Virtual Hackathon Ignition Hacks and another, towards a governance management solution called Holdim.
What do you think about Uniswap Foundation distributing $1.8 million in grants to 14 different recipients? Let us know your thoughts on this topic in the comments section below.
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