The Uniswap Foundation (UF), the organization behind the decentralized exchange (dex) Uniswap, announced the first round of foundation grants on Wednesday, with a total of $1.8 million to be distributed across 14 grants. According to the UF announcement, a little more than $800,000 will be awarded to Uniswap Diamond, a project being built by GFX Labs.
Uniswap Will Contribute $1.8 Million To 14 Different Projects
The Uniswap Foundation announced the first round of grants on September 21st, with the goal of strengthening the decentralized finance (defi) ecosystem and advancing research and development. According to the UF, the foundation will distribute $1.8 million in 14 grants, with the largest sum going to the project Uniswap Diamond. GFX Labs is currently working on the Uniswap Diamond project, which will receive a total of $808,725 in three installments. According to the UF, the project is “one of the most ambitious initiatives ever funded by Uniswap Grants.”
Other projects that will receive funding include Uniswap.fish (previously Uniswap Calculator), a Uniswap data extraction tool, Numoen, a constant function market maker, and a Uniswap v3 development course. According to UF, the grants were divided into three categories based on their size and scope, which are as follows:
- Protocol Development, which includes a decentralized volatility oracle and a data analysis tool that exports data from the Uniswap subgraph to a CSV file.
- Community Development, such as a Uniswap v3 development course and events in Latin America, Africa, and Canada.
- Governance Stewardship, which will include a deep dive into the state of Uniswap delegation and will result in a series of recommendations to improve governance.
Uniswap will also provide community-based grants to promote defi in Latin America and Africa. This includes “sponsorship of the Ghana Crypto and Defi Summit 2022″ and a “series of events, workshops, and gatherings” in Latin America. UF goes on to say that a grant has been given to the Phi Metaverse to “support the creation of Uniswap-specific in-game assets and quests.” Another grant will support the virtual hackathon Ignition Hacks, and another will support Holdim, a governance stewardship solution.