Summary
- Uniswap reported that it has received approval for a $165 million funding plan through a vote.
- The funds are expected to be used for grant budgets, operating expenses, and liquidity incentives.
- The possibility of a fee switch becoming a reality has increased, which would provide profits to Uniswap token holders.
Ethereum(ETH)-based decentralized exchange(DEX) Uniswap(UNI) is set to raise $165 million (approximately 240 billion KRW) in new funding.
According to CoinDesk on the 20th, the Uniswap decentralized autonomous organization (DAO) has approved a plan to raise $165 million in funding through a vote. It is reported that over 80% of the participants voted in favor of the plan.
The approved $165 million will serve as the budget for the Uniswap Foundation over the next two years. Specifically, the Uniswap Foundation has requested $95.4 million for grant budgets, $25.1 million for operating expenses, and $45 million for liquidity incentives, including user acquisition campaigns.
The possibility of a 'fee switch' becoming a reality has also increased. The core of the fee switch is to provide a portion of Uniswap's annual revenue, which exceeds $1 billion, to Uniswap token holders rather than liquidity providers (LPs). After securing new funding, the Uniswap Foundation plans to convert the foundation into a legal entity and propose a vote on the fee switch to the DAO again.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
