Uniswap Foundation to Distribute $1.8 Million in Grants to 14 Recipients – Defi Bitcoin News

The Uniswap Foundation (UF), the group behind the decentralized exchange (dex) Uniswap, announced the first wave of foundation grants on Wednesday as it plans to distribute $1.8 million total, awarded across 14 grants. The UF announcement details that a touch more than $800K will be awarded to Uniswap Diamond, a project being constructed by GFX Labs.

Uniswap to Disperse $1.8 Million to 14 Different Projects

On September 21, the Uniswap Foundation announced the first wave of grants that aims to bolster the decentralized finance (defi) ecosystem and progress research and development. According to the UF, the foundation will disperse $1.8 million in the form of 14 grants, and the project Uniswap Diamond will receive the largest sum. The Uniswap Diamond project is in the midst of being crafted by GFX Labs and it will get a total of $808,725 across 3 disbursements. The UF says the project is “one of the most ambitious initiatives ever to be funded by Uniswap Grants.”

The other grants will be given to projects like Uniswap.fish (previously Uniswap Calculator), an Uniswap data extraction tool, a constant function market maker called Numoen, and a Uniswap v3 development course. UF details that the grants’ size and scope were broken down into three different categories, which include:

• Protocol Growth, including a decentralized volatility oracle, and a data analysis tool that extracts data from the Uniswap subgraph into a CSV file.
• Community Growth, including a Uniswap v3 development course and events in Latin America, Africa, and Canada.
• Governance Stewardship, including a deep dive into the state of Uniswap delegation, which will be translated into a series of recommendations to improve governance.

Additionally, Uniswap community-based grants will be given to promote defi in Latin America and Africa. This includes a “series of events, workshops, and gatherings” in Latin America and “sponsorship of the Ghana Crypto and Defi Summit 2022.” UF further explains that a grant is being awarded to the Phi Metaverse, in order to give “support for the creation of Uniswap specific in-game assets and quests.” Another grant will go towards sponsoring the virtual hackathon Ignition Hacks and another, toward a governance stewardship solution called Holdim.