- 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 financial report for the second quarter of 2024.
Breakdown of Assets and Projected Usage
As of June 30, 2024, Uniswap Foundation's assets included $36.81 million in USD and stablecoins, and 680,000 UNI tokens. These financial reserves are earmarked for grantmaking, operational expenses, and employee token awards. The foundation plans to use the 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:
Grant 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. Operating expenses for the foundation accrued $1.6 million in Q2, 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. Operating expenses included: - Payroll: Salaries, benefits, and taxes. - Contract & Professional Fees: Legal, accounting, technical audits, and consultant expenses. - Office Expenses: Internal team events, software, transaction fees, and other general and administrative costs. - External Events: Conference and travel expenses. - Advertising & Marketing: Web design, agency fees, and event hosting. - Insurance: Directors and officers insurance.
Decentralized Exchanges See Surge in Trading Volume
According to DefiLlama, decentralized exchanges (DEXs) recorded over $18.2 billion in trading volume on August 6, 2024, 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 Foundation demonstrates significant financial reserves and clear planning to support its activities through the end of 2025. Decentralized exchanges continue to show growth in trading volumes, indicating an ongoing interest in decentralized financial instruments.
