The Uniswap Foundation revealed that it owns $41.41 million in fiat and foreign exchange.

The Uniswap Foundation revealed that it owned $41.41 million in fiat currencies, stablecoins, and 730,000 UNI tokens at the end of the first quarter.

According to the post, the foundation allocated $4.34 million in new grants during this period, disbursing $2.79 million in previously committed grants.

Paper money and stables are allocated for grants and operating activities, while UNI tokens are reserved for employee token prizes.

The Uniswap Foundation also announced that an on-chain vote on the proposal to create its new fee mechanism would take place by May 31. According to the organization, the proposal identifies a critical step toward implementing toll-independent collection and distribution in Uniswap v3 pools.

Once the proposal is approved, control of the main UniswapV3Factory will be transferred to a new, purpose-built V3FactoryOwner contract, marking a significant milestone in Uniswap’s decentralized governance. However, the vote would not trigger the fee, which will be addressed in a future proposal.

Source: Uniswap Foundation

The Uniswap Foundation said the free swap would be implemented despite the US Securities Exchange Commission’s (SEC) Wells advisory against the DeFi protocol. The notice, issued in April, alleged that the company violated securities laws by operating as an unregistered exchange and broker-dealer.

Uniswap Labs claimed that the SEC lacked jurisdiction to regulate its decentralized protocol under existing legal classifications.

The company’s response came at just the right time, as the U.S. House of Representatives prepared to vote on a bill – the 21st Century Financial Innovation and Technology Act – that could change the way securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC) regulate cryptocurrencies.

about: Uniswap (UNI) hits two-year high as fee-sharing proposal deadline approaches

The SEC has been investigating Uniswap Labs, the main developer of Uniswap, since 2021. The decentralized exchange (DEX) previously removed several tokens from its platform, citing increasing regulatory pressure.

Uniswap’s fee revenue has always been fully allocated to liquidity providers (LPs), who receive rewards for providing assets to the platform, supporting trading activity and market liquidity.

However, the new proposal would share protocol fees between UNI token holders who stake or delegate their tokens, creating an incentive structure that rewards active participation and encourages meaningful contributions within the Uniswap ecosystem.

In February, the Uniswap Foundation submitted a proposal to introduce a fee reward system aimed at incentivizing UNI token holders to participate more actively in governance decisions, thereby improving community participation and decision-making processes.

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