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