Uniswap Foundation Launches First Wave of Grants Totaling $1.8M

Uniswap Foundation, the organization that oversees the development of the largest DEX in the world, has stated that its first wave of grants sums up to almost $1.8 million total.

According to the official announcement, the grants vary in size and scope and are spread across three areas – protocol growth, community growth, and governance stewardship.

Uniswap Diamond

Uniswap Diamond is heralded as one of the most ambitious initiatives to be funded by Uniswap Grants. All ecosystem stakeholders are expected to benefit from this work.

The aim is to enhance the pro trader and LP experience, ramp up market share, and ease development and on-chain data analysis. For the purpose of historical and real-time on-chain data, API and SDK will be added, which is expected to be a game-changer for developers building on top of Uniswap, analysts, and end users.

Additionally, Diamond will also comprise a pro interface intended to increase Uniswap’s market share amongst pro users familiar with the features of a more traditional centralized exchange. Despite being a DEX leader, Uniswap only has around 1% of all crypto trading market share. Uniswap Diamond, however, aims to amplify that share by competing directly with the leading centralized platforms in terms of user experience and data.

The grant will be built by the cross-chain governance research – GFX Labs – which have been active Uniswap contributors since the beginning. Notably, the GFX team was one of the first liquidity providers on v3.

“We’re particularly excited about this grant because it represents the kind of ambitious, high-impact, long-term-oriented work that the newly created Foundation is uniquely able to support. We are also thrilled to build a stronger tie between GFX Labs – a talented development team that has already shown a strong commitment to Uniswap – and the ecosystem as a whole.”

Meanwhile, Uniswap.fish, Decentralized Volatility Oracle, and Numoen are also some of the prominent grants in addition to Diamond.

“Reinvigorating Governance”

The ambitious plan of Uniswap Foundation to streamline Uniswap’s Grant Program (UPG) and lessen friction in the protocol’s governance system became a reality last month. The initial proposal received over 99% of the votes from UNI holders in the affirmative.

Former Uniswap chief of staff, Devin Walsh, presented the proposal and earlier said the team had already been moving at a fast pace while delivering on its top priorities in areas such as building out its talent pool, ramping up the Uniswap Grants program and “reinvigorating the governance process.”