Uniswap

Uniswap Potentially Expanding Thanks to a $74 Million Proposal

05.08.2022 09:56
by Gabriel Cross
1 min read

Uniswap, the world’s largest decentralized exchange, will expand to include a U.S. Uniswap Foundation (UF) if the proposed straw poll passes. If everything goes according to plan, the UF will receive $74 million worth of UNI tokens for its future operations.

$60 million of that sum would fund the Uniswap Grant Program (UGP), while the remaining $14 million would be used to sustain a core developer team.

According to a Uniswap Labs’ representative, the foundation’s primary goal is to support Uniswap’s growth and improve the governance process.

While the proposal has encountered substantial support, including from the Uniswap founder Hayden Adams, it also has its opponents. Adam Cochran of Cinneamhain Ventures believes that $74 million is too much, especially considering that the $7 million UGP already spent in the past were directed toward “underwhelming” projects.

According to CoinGecko, Uniswap had a trading volume of $793.8 billion over the past 24 hours, similar to centralized exchanges such as KuCoin. We’ll see if the proposed U.S. Uniswap Foundation will help it to achieve an even healthier position.

 

Author

  • Gabriel Cross used to be a bank officer for an international bank for many years. From this point of view, he says the time spent obtaining a degree in economics was a waste of time. A few years back, he decided to quit his job and start trading. He is obsessed with decentralized finance, but he often plays with the stock market, investing with great pleasure into ground-breaking tech solution startups.

Trending news