Uniswap Foundation: Q2 2024 Financial Summary | Key Data

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Breakdown of Assets and Projected Usage
  2. Summary of Activities in Q2 2024
  3. Decentralized Exchanges See Surge in Trading Volume


    4. The Uniswap Foundation, dedicated to supporting the growth of Uniswap, released its Q2 financial summary for 2024, detailing asset status and fund usage.

    Breakdown of Assets and Projected Usage

    On June 30, 2024, Uniswap's assets included $36.81 million in USD and stablecoins, and 680,000 UNI tokens. The foundation plans to use fiat cash and stablecoins for grants and operational activities, while the UNI tokens are reserved for employee awards. The projected funds are expected to sustain the foundation through the end of 2025. Detailed allocations include: Grants Commitments and Incentives: $26.12 million allocated, with $22.46 million to be committed in 2024 and 2025, and $3.66 million reserved for previously committed grants. Operational Expenses: $10.69 million earmarked for funding operational costs through the end of 2025.

    These funds will enable us to continue supporting the Uniswap ecosystem and rewarding our employees with UNI tokens.Uniswap Foundation

    Summary of Activities in Q2 2024

    In Q2 2024, the Uniswap Foundation committed $3.22 million in new grants and disbursed $2.48 million in previously committed grants. Year-to-date figures as of June 30, 2024, show $7.55 million in grants committed and $5.27 million disbursed. During Q2 2024, the foundation accrued $1.6 million in operating expenses, excluding employee token awards in UNI. Year-to-date operating expenses were $2.63 million. The foundation also realized $0.19 million in other revenue from dividends and interest.

    Our operating expenses include payroll, taxes, legal and audit services, as well as marketing and advertising costs.

    Decentralized Exchanges See Surge in Trading Volume

    According to DefiLlama, DEXs recorded over $18.2 billion in trading volume on Aug. 6, ranking third behind March 10, 2023’s $24.5 billion and May 18, 2021’s $24.6 billion. Uniswap, native to Ethereum and its layer 2 networks, led the surge with $7.5 billion in trading volume. BNB Chain’s PancakeSwap followed with nearly $1.8 billion. Solana’s Phoenix and Orca took third and fourth places, collectively responsible for around $2.5 billion in volume. Aerodrome, operating on Coinbase’s L2 network Base, came in fifth.

    Uniswap continues to lead the decentralized exchange market, showing significant trading volume growth.

    The Uniswap Foundation has demonstrated strong financial growth and active support for the Uniswap ecosystem. Current assets and fund usage plans are expected to sustain the foundation’s activities through to the end of 2025.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Analysts Identify Bullish Checkmate Setup for Bitcoin

Crypto trader Cheds Trading has highlighted a potential bullish checkmate setup on Bitcoin's 4-hour chart, suggesting that reduced selling momentum could lead to a significant price increase if buyers step in.

user avatarKaterina Papadopoulou

Payward Acquires AAVE Tokens to Explore Decentralized Credit

Payward, the infrastructure company behind Kraken, announced the acquisition of AAVE tokens through an affiliated fund.

user avatarMaya Lundqvist

Solana Labs Launches Leap Mobile Trading App for iOS

Solana Labs has launched an early-access beta version of its mobile trading app, Leap, for iOS users.

user avatarLeo van der Veen

Aave Labs Expands Fixed-Rate Lending Capabilities with Avon Acquisition

Aave Labs announced its acquisition of Avon to enhance fixed-rate lending capabilities.

user avatarLi Weicheng

Investigation into Binance Theft Reveals Complexities in Cryptocurrency Tracing

Elliptic's investigation into the October Binance theft reveals complexities in tracing stolen cryptocurrency assets, highlighting challenges in identifying recipients and the need for compliance.

user avatarTenzin Dorje

Elliptic Reports $124 Million in Stolen Assets Converted to Bitcoin

Elliptic reports that approximately $124 million of stolen assets from the October Binance breach have been converted into Bitcoin.

user avatarAisha Farooq

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.