Uniswap Foundation's Q2 2024 Financial Report: Results and Future Plans

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by Giorgi Kostiuk

2 years ago

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  1. Asset Overview and Planned Usage
  2. Activities Summary in Q2 2024
  3. Growth in Trading Volume on Decentralized Exchanges


    4. The Uniswap Foundation, committed to supporting the growth of Uniswap, released its Q2 financial summary for 2024. The report outlines the foundation's main assets and their allocation for the upcoming years.

    Asset Overview and Planned Usage

    As of June 30, 2024, the Uniswap Foundation's assets include $36.81 million in cash and stablecoins and 680,000 UNI tokens. These funds are earmarked for grants, operational expenses, and employee awards. The projected funds are expected to support the foundation through the end of 2025, with allocations as follows:

    * **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 reserved for funding operational costs through the end of 2025.

    Activities Summary 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 in Q2 amounted to $1.6 million, 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.

    Growth in Trading Volume on Decentralized Exchanges

    According to DefiLlama, DEXs recorded over $18.2 billion in trading volume on August 6, marking the third-largest volume 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 financial situation of the Uniswap Foundation remains strong, with a clear plan for the upcoming years. Grants support and operational activities of the foundation continue, contributing to the ongoing growth of the Uniswap ecosystem.

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