The Uniswap Foundation disclosed ownership of $41.41 million in fiat and stablecoins, as well as 730,000 UNI tokens at the end of the first quarter. 📈

During this period, the foundation awarded $4.34 million in new grants and paid out $2.79 million in previously obligated grants.

Fiat and stablecoins are intended for grants and operational activities, UNI tokens are for rewarding employees.

Uniswap also announced a vote on the proposal to create a new payment mechanism, which should take place before May 31.

Despite the SEC notice, Uniswap stated that the free switch will be implemented.

However, the new proposal will share fees among UNI token holders, creating an incentive structure that encourages active participation and meaningful contributions to the Uniswap ecosystem.