The Uniswap Foundation, the driving force behind the leading decentralized exchange (DEX) in the crypto industry, has chosen to disclose its crypto assets in preparation for a governance vote on a new fee mechanism. In a recent blog post, the foundation shared its financials for the first quarter of 2024, demonstrating transparency with the Uniswap (UNI) token-holding community.

As of March 31, 2024, the foundation had $41.41 million in USD and stablecoins, along with 0.73 million UNI tokens. The fiat cash and stablecoins are intended for grant-making and operating activities, while the UNI tokens are allocated for employee token awards. The funds were projected to last until the end of 2025, with specific allocations as follows:

– $25.77 million for grants commitments and incentives to be disbursed in 2024 and 2025.
– $2.94 million reserved for grants committed previously, to be disbursed.
– The remaining $12.7 million to be used for funding operational expenses until the end of 2025.

The announcement also highlighted that the Uniswap Foundation has already committed over $4 million in grants and has disbursed nearly $3 million in committed grants. Additionally, the foundation reported $1.03 million in operating expenses.

These financial details are being shared as the Uniswap community prepares for a governance vote on a potential new autonomous fee collection system. The vote is scheduled for this Friday, May 31. The proposed mechanism aims to make fee adjustments more dynamic, reduce the burden on Uniswap Governance, and maintain the protocol’s “credible neutrality.” The foundation had initially introduced this fee mechanism to encourage greater participation by UNI token holders in governance votes.

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