on August 5, the Uniswap community released a new proposal to establish the Uniswap Foundation (UF). According to the proposal, UF's mission is to support the sustainable growth of the Uniswap protocol and the decentralized ecosystem and community it supports. Devin Walsh, former chief of staff of Uniswap Labs, will serve as executive director, Ken Ng will serve as head of operations, and a team of 12 will be assembled.

To achieve these goals, the team is seeking a total of $74 million in funding, divided into two payments, the first of which is $20 million, consisting of a $14 million operating budget to cover the entire team for three years, and a $60 million Uniswap Grants Program (UGP) grant budget to cover expenses over three years. Participation in governance is also required through the licensing of 2.5 million UNI Tokens. Through the use of a new smart contract, The Franchiser, these UNI Tokens will be revocable by the DAO at any time and cannot be used for any purpose other than governance.

on August 5, the Uniswap community released a new proposal to establish the Uniswap Foundation (UF). According to the proposal, UF's mission is to support the sustainable growth of the Uniswap protocol and the decentralized ecosystem and community it supports. Devin Walsh, former chief of staff of Uniswap Labs, will serve as executive director, Ken Ng will serve as head of operations, and a team of 12 will be assembled.

To achieve these goals, the team is seeking a total of $74 million in funding, divided into two payments, the first of which is $20 million, consisting of a $14 million operating budget to cover the entire team for three years, and a $60 million Uniswap Grants Program (UGP) grant budget to cover expenses over three years. Participation in governance is also required through the licensing of 2.5 million UNI Tokens. Through the use of a new smart contract, The Franchiser, these UNI Tokens will be revocable by the DAO at any time and cannot be used for any purpose other than governance.