The Uniswap Foundation recently released its first quarter financial report for 2024, expressing its commitment to maintaining financial transparency for the community. Uniswap presents an unaudited financial summary for the first quarter as of March 31, 2024.

Uniswap assets and fund usage

As of March 31, 2024, the Uniswap Foundation held 41.41 million USD and stablecoins, with an additional 730,000 UNI tokens. Fiat currency (USD) and stablecoins are primarily used to subsidize programs and operational activities, while UNI tokens are earmarked for employee token rewards. Uniswap’s financial operations are expected to continue until the end of 2025, with capital allocation as follows:

  • Grant Commitments and Incentives: $25.77 million to be awarded in 2024 and 2025

  • Committed grants: $2.94 million reserved for disbursement

  • Operating expenses: $12.7 million available for operations through end-2025

Subsidies for the first quarter of 2024: commitments and disbursements

During the first quarter of 2024, the Foundation committed $4.34 million in new grants and distributed $2.79 million in committed grants. (Updated version of subsidy policy)

First Quarter 2024 Activity Summary

In the first quarter of 2024, the Uniswap Foundation incurred $1.03 million in operating expenses. A breakdown of these fees is as follows:

  • Payroll expenses: salary, benefits and taxes.

  • Contractual and professional fees: legal, accounting, technical audit and consultancy fees.

  • Office expenses: Internal team activities, outbound meetings, software, transaction fees and other general and administrative costs.

  • Outside Events: Travel and attendance costs for conferences and outside events.

  • Advertising and Marketing: Web design, agency fees and event hosting.

  • Insurance: Directors and Officers Insurance.

Uniswap Foundation: Will continue to maintain financial transparency

The Uniswap Foundation stated that we will provide an overview of the second quarter of 2024, covering grant commitments and disbursements, operating expenses, and a summary of financial conditions.

The Uniswap Foundation is also one of the few blockchain corporate institutions that currently publishes its financial status and expenses.

This Article The Foundation is Active in Financial Transparency! Uniswap Foundation’s First Quarter 2024 Financial Report first appeared on Chain News ABMedia.