Executive Director of the Uniswap Foundation
Executive Director of the Uniswap Foundation
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Today we are so thrilled to announce the first wave of grants being disbursed by the Uniswap Foundation!
As we mentioned in the governance proposal to create the Foundation, we see an opportunity to elevate the Uniswap Grants Program (UGP) to have an even greater impact on the ecosystem than it already has. With this first set of grants, we are excited to showcase a few examples of this impact in action.
This first wave of grants sums up to ~$1.8M total, awarded across 14 grants. Some grants were awarded a few months ago and are already completed, while others were approved more recently after the creation of the UF. They vary in size and scope, and are spread across three categories:
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
One particularly exciting grant we want to highlight is Uniswap Diamond, which will be built by GFX Labs.
Diamond is one of the most ambitious initiatives ever to be funded by Uniswap Grants. This work will benefit all ecosystem stakeholders - enhancing the pro trader and LP experience, increasing market share, and easing development and on-chain data analysis. It will include an API and SDK for historical and real-time on-chain data, which will change the game for developers building on top of Uniswap, analysts, and end users. Diamond also includes a pro interface designed to increase Uniswap’s market share amongst pro users accustomed to the features and comforts of a more traditional centralized exchange.
We’re particularly excited about this grant because it represents the kind of ambitious, high-impact, long-term-oriented work that the newly created Foundation is uniquely able to support. We are also thrilled to build a stronger tie between GFX Labs - a talented development team which has already shown a strong commitment to Uniswap - and the ecosystem as a whole.
Uniswap has achieved market dominance in the DEX space but only has ~1% of all crypto trading market share. Uniswap Diamond aims to grow that share by competing directly with the leading centralized exchanges in user experience and data. Traders will enjoy many of the helpful and familiar features of an off-chain exchange while maintaining the benefits of being decentralized and on-chain. In addition, the data layer being built to support Diamond will be totally open source, available for all developers and analysts to use.
Recipient: GFX Labs. GFX Labs was founded in 2021 by Getty Hill and Eddy Lee, who had previously worked as a professional crypto trader and developer, respectively, at Grapefruit Trading for several years prior. The team has shown a strong and sustained commitment to the Uniswap community and ecosystem, having proposed 6 of 14 successful Uniswap governance proposals and contributed as an active delegate.
This grant includes:
An API allowing users to fetch live and historical data streams of pool, token, and position information, as well as statistics such as liquidity, market depth, fees, etc
An SDK will allow users to easily integrate the API
Robust documentation for the API and SDK
A requirement to confirm ease of use, robustness, and functionality completeness from third party analysts and teams familiar with Uniswap on-chain data
Grant size: $808,725, across 3 disbursements
Intended impact: A core piece of infrastructure to developers and data analysts within the ecosystem, making it easy to incorporate real-time and historical Uniswap v3 data into integrations, applications, and analyses.
This grant includes the following:
An Analytics Interface leveraging the Open Source API & SDK
A Pro Trading interface replicating the creature comforts of a centralized exchange, including market and limit orders, and LP tooling
Grant size: $820,800, across 4 disbursements
Impact: Filling in a gap in the Uniswap ecosystem, providing an interface catering to professional and active traders and LPs who are accustomed to the features available in a centralized exchange.
This grant will fund the development of a decentralized oracle that calculates the price volatility of tokens in Uniswap v3. The deliverables for this grant will include the development of smart contracts to calculate and store token price volatility, in turn allowing users to develop strategies to hedge their LP positions.
Grant Size: $50,000, across 4 disbursements
Impact: Currently, users either have to independently calculate volatility or use 3rd party oracle projects (i.e. Chainlink). This new oracle will allow for faster development and more efficiency as it creates a single place where everyone, including multiple projects at once, can collect historical volatility data from.
Recipient: Ankit Chiplunkar. Ankit is a Senior Smart Contract engineer at Coinbase, and has a PhD in applied machine learning. He will be working on the oracle with Jing Fan, who previously worked as EM for integrating DeFi and Staking at Coinbase.
Uniswap.fish (previously Uniswap Calculator) is already a popular tool used by the Uniswap community that allows liquidity providers to discover, analyze, manage, and track their LP positions. The tool has already helped over 13,000 Liquidity Providers from over 130 countries define their Uniswap V3 LP strategies. This new grant will add new functionality to the existing tool, including an impermanent loss calculator, integration with the Celo chain, and a pool/position discovery feature.
Grant Size: $25,000, across 3 disbursements
Impact: Provides liquidity providers with a comprehensive and extended tool kit, helping them to optimize their liquidity provisioning strategies.
Recipient: Chun Rapeepat, a Bangkok-based full-time indie hacker who built Uniswap.fish. The grant will allow the tool to further assist LPs in optimizing their strategies by allowing them to easily compare the behavior and profitability of different pools.
This tool would allow users to extract on-chain Uniswap data from the Uniswap subgraph and export it directly into CSV. The data available will include data per pool, token, transaction, and for the Protocol as a whole.
Grant Size: $20,000, across 2 disbursements
Impact: Today, the ability to collect and manipulate on-chain data are two of the most common roadblocks to conducting comprehensive analysis and research on Uniswap. This tool will make it easier for anyone to extract, manipulate, and analyze historical on-chain Uniswap data.
Recipient: Shippooor team, a team which has built custom analytics and data visualization tools for DAOs. The team has previously completed multiple Uniswap Community Analytics program bounties (their Dune dashboards can be found here). The team has previously built a similar subgraph to CSV tool for Notional, here.
Numoen aims to design and implement a constant function market maker with a logarithmic invariant - an idea initially proposed in this Replicating Monotonic Payoff paper published by Tarun Chitra, Alex Evans, and Guillermo Angeris. In theory this can be used to offer a more desired payoff for liquidity providers. By lending out the LP share of a LMM, the convexity mimics a power perpetual. This would potentially enable LPs to hedge against impermanent loss on any underlying asset.
Grant Size: $5,000
Impact: Expanding the universe of research and development related to AMMs, particularly related to enhancing LP experience, and keeping that work centered within the Uniswap ecosystem.
Recipient: Robert Leifke and his team of fellow students. Together they have already created a very successful AMM implementation, Mobius. Numoen also recently posted a fascinating Twitter thread on Replicating Market Makers.
A free educational course that will teach developers the technicalities of Uniswap v3 and provide guidance on how to build it from scratch. This course will build off of similar courses that this grantee previously built for Uniswap v1 and v2, which can be found here. [You can check it out in draft form here - though note it is still undergoing final review!]
Grant Size: $20,000, across 2 disbursements
Impact: The final goal is to create a free and open-sourced educational resource that will not only attract new developers to the Uniswap ecosystem but help developers make a seamless transition from web2 to web3 development as well.
Recipient: Ivan Kuznetsov. Ivan has been a long-time contributor in the Uniswap ecosystem, having built similar courses for Uniswap v1 and v2.
The DeFi LATAM community is one of the most active crypto communities in the LATAM region. Through a series of events, workshops, and gatherings they aim to educate the local community about the DeFi technology and cryptocurrencies.
Grant Size: $15,000, across 2 disbursements
Impact:The Uniswap Foundation is excited to educate new groups about DeFi and Uniswap, and we believe that the presence and promotion of strong, local sub-communities like DeFi LATAM is a perfect way to work towards that goal.
Recipient: DeFi LATAM, a group of long term crypto enthusiasts on a mission to share their enthusiasm about DeFi and web3.
Sponsorship of the Ghana Crypto and DeFi Summit 2022. This conference is the first “organic, inclusive, and grassroots DeFi summit” to happen in Ghana, Africa.
Grant Size: $5,000
Impact: Educate builders and tech communities in Ghana about Uniswap and DeFi. As mentioned above for DeFi LATAM, the UF aims to educate new groups about DeFi, and we believe that supporting local, organic communities will help us achieve that goal.
Recipient: DeFi Africa. This team and the Ghana Crypto and DeFi Summit have earned recognition broadly throughout the DeFi community, and is also supported by Maker, Balancer, Aave, and the Ethereum Foundation’s Ecosystem Support Program.
Support for the creation of Uniswap specific in-game assets and quests in the Phi Metaverse.
Phi visualizes on-chain identity and creates an open and inclusive metaverse land system that is based on universal web3 building blocks, such as ENS domains and wallet activity. Their work, already completed, has already prompted more than 30,000 swaps on Uniswap!
Phi’s ultimate mission is to onboard a new audience to Web3 through amazing pixel art and gaming experience.
Grant Size: $2,000
Impact: As Phi’s mission is to attract new users to web3 through a sophisticated gaming experience with absorbing pixel art, Uniswap specific assets, quests, and activities will spread Uniswap brand awareness, onboard new users, and increase community participation.
Recipient: Shugo Tsuji
Sponsorship of the virtual hackathon Ignition Hacks, which is put on by a group of Canadian high school students. This event aims to introduce its participants to a series of cutting edge technologies including web3. Uniswap’s sponsorship allowed Ignition Hacks to host a web3 specific track.
Grant Size: $1,000
Impact: Expose Uniswap and web3 development to Canadian high school talent. Talent in web3 still has much room to grow and introducing web3 development concepts at an early age will strengthen and expand the talent pool, bettering the overall web3 and Uniswap ecosystem.
Recipient: Ignition Hacks. The core team has previous experience with ETHGlobal Hackathons, and a partnership with Kevin Jones and the CryptoMastery team will properly introduce blockchain development to participants.
The Holdim team is building a mobile-first app that will allow users to keep up with the latest governance updates across multiple protocols. The app will allow users to connect and interact with multiple governance forums at once, and include a Snapshot integration to participate in off-chain voting as well.
Grant Size: $15,000, across 3 disbursements
Impact: Many people are interested in participating in protocol governance, but it can be difficult to follow every protocol governance forum separately. We believe having a mobile app of all governance activity will increase governance awareness and participation across DAOs, including Uniswap.
Recipient: Holdim, a decentralized team of crypto enthusiasts based in Europe.
This grant’s work included:
A Uniswap governance dashboard measuring governance vote decentralization including comparisons to other DeFi protocols
The dashboard will be updated regularly, on a cadence to be discussed with others in the Uniswap community.
Grant size: $7,500, across 2 disbursements
Impact: Provides nuanced governance decentralization data to the Uniswap community. This data can be used as a benchmark for future initiatives intended to drive additional decentralization and increase awareness within the Uniswap Community about governance participation.
Recipient: Taylor Plumer and Hunter Plumer, who each have professional experience in data analysis and building business intelligence dashboards. They previously created an on-chain governance Dashboard for the UGP Community Analytics Bounty #4, which you can see here. In addition to this grant, they will be writing periodic updates to their findings as they look to contribute long term.
This initiative will deep dive into Uniswap’s current delegation program, providing a thorough analysis of its current state, as well as a set of recommendations focused on how it could be improved. These write-ups will be shared in a comprehensive report for the community.
Grant size: $16,000, across 4 disbursements
Impact: This research will help guide the evolution of Uniswap governance, particularly delegation, in the right direction.
Recipient: Penn Blockchain. Penn Blockchain is one of the largest web3 student organizations in the country. They are active governance participants and delegates in many DeFi protocols, including Uniswap. This research opportunity will allow them to leverage their experiences in governance and explore the state of Uniswap’s delegation system, creating a comprehensive research report that gives the community clarity on what might be the best next steps for Uniswap governance.
Today we are so thrilled to announce the first wave of grants being disbursed by the Uniswap Foundation!
As we mentioned in the governance proposal to create the Foundation, we see an opportunity to elevate the Uniswap Grants Program (UGP) to have an even greater impact on the ecosystem than it already has. With this first set of grants, we are excited to showcase a few examples of this impact in action.
This first wave of grants sums up to ~$1.8M total, awarded across 14 grants. Some grants were awarded a few months ago and are already completed, while others were approved more recently after the creation of the UF. They vary in size and scope, and are spread across three categories:
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
One particularly exciting grant we want to highlight is Uniswap Diamond, which will be built by GFX Labs.
Diamond is one of the most ambitious initiatives ever to be funded by Uniswap Grants. This work will benefit all ecosystem stakeholders - enhancing the pro trader and LP experience, increasing market share, and easing development and on-chain data analysis. It will include an API and SDK for historical and real-time on-chain data, which will change the game for developers building on top of Uniswap, analysts, and end users. Diamond also includes a pro interface designed to increase Uniswap’s market share amongst pro users accustomed to the features and comforts of a more traditional centralized exchange.
We’re particularly excited about this grant because it represents the kind of ambitious, high-impact, long-term-oriented work that the newly created Foundation is uniquely able to support. We are also thrilled to build a stronger tie between GFX Labs - a talented development team which has already shown a strong commitment to Uniswap - and the ecosystem as a whole.
Uniswap has achieved market dominance in the DEX space but only has ~1% of all crypto trading market share. Uniswap Diamond aims to grow that share by competing directly with the leading centralized exchanges in user experience and data. Traders will enjoy many of the helpful and familiar features of an off-chain exchange while maintaining the benefits of being decentralized and on-chain. In addition, the data layer being built to support Diamond will be totally open source, available for all developers and analysts to use.
Recipient: GFX Labs. GFX Labs was founded in 2021 by Getty Hill and Eddy Lee, who had previously worked as a professional crypto trader and developer, respectively, at Grapefruit Trading for several years prior. The team has shown a strong and sustained commitment to the Uniswap community and ecosystem, having proposed 6 of 14 successful Uniswap governance proposals and contributed as an active delegate.
This grant includes:
An API allowing users to fetch live and historical data streams of pool, token, and position information, as well as statistics such as liquidity, market depth, fees, etc
An SDK will allow users to easily integrate the API
Robust documentation for the API and SDK
A requirement to confirm ease of use, robustness, and functionality completeness from third party analysts and teams familiar with Uniswap on-chain data
Grant size: $808,725, across 3 disbursements
Intended impact: A core piece of infrastructure to developers and data analysts within the ecosystem, making it easy to incorporate real-time and historical Uniswap v3 data into integrations, applications, and analyses.
This grant includes the following:
An Analytics Interface leveraging the Open Source API & SDK
A Pro Trading interface replicating the creature comforts of a centralized exchange, including market and limit orders, and LP tooling
Grant size: $820,800, across 4 disbursements
Impact: Filling in a gap in the Uniswap ecosystem, providing an interface catering to professional and active traders and LPs who are accustomed to the features available in a centralized exchange.
This grant will fund the development of a decentralized oracle that calculates the price volatility of tokens in Uniswap v3. The deliverables for this grant will include the development of smart contracts to calculate and store token price volatility, in turn allowing users to develop strategies to hedge their LP positions.
Grant Size: $50,000, across 4 disbursements
Impact: Currently, users either have to independently calculate volatility or use 3rd party oracle projects (i.e. Chainlink). This new oracle will allow for faster development and more efficiency as it creates a single place where everyone, including multiple projects at once, can collect historical volatility data from.
Recipient: Ankit Chiplunkar. Ankit is a Senior Smart Contract engineer at Coinbase, and has a PhD in applied machine learning. He will be working on the oracle with Jing Fan, who previously worked as EM for integrating DeFi and Staking at Coinbase.
Uniswap.fish (previously Uniswap Calculator) is already a popular tool used by the Uniswap community that allows liquidity providers to discover, analyze, manage, and track their LP positions. The tool has already helped over 13,000 Liquidity Providers from over 130 countries define their Uniswap V3 LP strategies. This new grant will add new functionality to the existing tool, including an impermanent loss calculator, integration with the Celo chain, and a pool/position discovery feature.
Grant Size: $25,000, across 3 disbursements
Impact: Provides liquidity providers with a comprehensive and extended tool kit, helping them to optimize their liquidity provisioning strategies.
Recipient: Chun Rapeepat, a Bangkok-based full-time indie hacker who built Uniswap.fish. The grant will allow the tool to further assist LPs in optimizing their strategies by allowing them to easily compare the behavior and profitability of different pools.
This tool would allow users to extract on-chain Uniswap data from the Uniswap subgraph and export it directly into CSV. The data available will include data per pool, token, transaction, and for the Protocol as a whole.
Grant Size: $20,000, across 2 disbursements
Impact: Today, the ability to collect and manipulate on-chain data are two of the most common roadblocks to conducting comprehensive analysis and research on Uniswap. This tool will make it easier for anyone to extract, manipulate, and analyze historical on-chain Uniswap data.
Recipient: Shippooor team, a team which has built custom analytics and data visualization tools for DAOs. The team has previously completed multiple Uniswap Community Analytics program bounties (their Dune dashboards can be found here). The team has previously built a similar subgraph to CSV tool for Notional, here.
Numoen aims to design and implement a constant function market maker with a logarithmic invariant - an idea initially proposed in this Replicating Monotonic Payoff paper published by Tarun Chitra, Alex Evans, and Guillermo Angeris. In theory this can be used to offer a more desired payoff for liquidity providers. By lending out the LP share of a LMM, the convexity mimics a power perpetual. This would potentially enable LPs to hedge against impermanent loss on any underlying asset.
Grant Size: $5,000
Impact: Expanding the universe of research and development related to AMMs, particularly related to enhancing LP experience, and keeping that work centered within the Uniswap ecosystem.
Recipient: Robert Leifke and his team of fellow students. Together they have already created a very successful AMM implementation, Mobius. Numoen also recently posted a fascinating Twitter thread on Replicating Market Makers.
A free educational course that will teach developers the technicalities of Uniswap v3 and provide guidance on how to build it from scratch. This course will build off of similar courses that this grantee previously built for Uniswap v1 and v2, which can be found here. [You can check it out in draft form here - though note it is still undergoing final review!]
Grant Size: $20,000, across 2 disbursements
Impact: The final goal is to create a free and open-sourced educational resource that will not only attract new developers to the Uniswap ecosystem but help developers make a seamless transition from web2 to web3 development as well.
Recipient: Ivan Kuznetsov. Ivan has been a long-time contributor in the Uniswap ecosystem, having built similar courses for Uniswap v1 and v2.
The DeFi LATAM community is one of the most active crypto communities in the LATAM region. Through a series of events, workshops, and gatherings they aim to educate the local community about the DeFi technology and cryptocurrencies.
Grant Size: $15,000, across 2 disbursements
Impact:The Uniswap Foundation is excited to educate new groups about DeFi and Uniswap, and we believe that the presence and promotion of strong, local sub-communities like DeFi LATAM is a perfect way to work towards that goal.
Recipient: DeFi LATAM, a group of long term crypto enthusiasts on a mission to share their enthusiasm about DeFi and web3.
Sponsorship of the Ghana Crypto and DeFi Summit 2022. This conference is the first “organic, inclusive, and grassroots DeFi summit” to happen in Ghana, Africa.
Grant Size: $5,000
Impact: Educate builders and tech communities in Ghana about Uniswap and DeFi. As mentioned above for DeFi LATAM, the UF aims to educate new groups about DeFi, and we believe that supporting local, organic communities will help us achieve that goal.
Recipient: DeFi Africa. This team and the Ghana Crypto and DeFi Summit have earned recognition broadly throughout the DeFi community, and is also supported by Maker, Balancer, Aave, and the Ethereum Foundation’s Ecosystem Support Program.
Support for the creation of Uniswap specific in-game assets and quests in the Phi Metaverse.
Phi visualizes on-chain identity and creates an open and inclusive metaverse land system that is based on universal web3 building blocks, such as ENS domains and wallet activity. Their work, already completed, has already prompted more than 30,000 swaps on Uniswap!
Phi’s ultimate mission is to onboard a new audience to Web3 through amazing pixel art and gaming experience.
Grant Size: $2,000
Impact: As Phi’s mission is to attract new users to web3 through a sophisticated gaming experience with absorbing pixel art, Uniswap specific assets, quests, and activities will spread Uniswap brand awareness, onboard new users, and increase community participation.
Recipient: Shugo Tsuji
Sponsorship of the virtual hackathon Ignition Hacks, which is put on by a group of Canadian high school students. This event aims to introduce its participants to a series of cutting edge technologies including web3. Uniswap’s sponsorship allowed Ignition Hacks to host a web3 specific track.
Grant Size: $1,000
Impact: Expose Uniswap and web3 development to Canadian high school talent. Talent in web3 still has much room to grow and introducing web3 development concepts at an early age will strengthen and expand the talent pool, bettering the overall web3 and Uniswap ecosystem.
Recipient: Ignition Hacks. The core team has previous experience with ETHGlobal Hackathons, and a partnership with Kevin Jones and the CryptoMastery team will properly introduce blockchain development to participants.
The Holdim team is building a mobile-first app that will allow users to keep up with the latest governance updates across multiple protocols. The app will allow users to connect and interact with multiple governance forums at once, and include a Snapshot integration to participate in off-chain voting as well.
Grant Size: $15,000, across 3 disbursements
Impact: Many people are interested in participating in protocol governance, but it can be difficult to follow every protocol governance forum separately. We believe having a mobile app of all governance activity will increase governance awareness and participation across DAOs, including Uniswap.
Recipient: Holdim, a decentralized team of crypto enthusiasts based in Europe.
This grant’s work included:
A Uniswap governance dashboard measuring governance vote decentralization including comparisons to other DeFi protocols
The dashboard will be updated regularly, on a cadence to be discussed with others in the Uniswap community.
Grant size: $7,500, across 2 disbursements
Impact: Provides nuanced governance decentralization data to the Uniswap community. This data can be used as a benchmark for future initiatives intended to drive additional decentralization and increase awareness within the Uniswap Community about governance participation.
Recipient: Taylor Plumer and Hunter Plumer, who each have professional experience in data analysis and building business intelligence dashboards. They previously created an on-chain governance Dashboard for the UGP Community Analytics Bounty #4, which you can see here. In addition to this grant, they will be writing periodic updates to their findings as they look to contribute long term.
This initiative will deep dive into Uniswap’s current delegation program, providing a thorough analysis of its current state, as well as a set of recommendations focused on how it could be improved. These write-ups will be shared in a comprehensive report for the community.
Grant size: $16,000, across 4 disbursements
Impact: This research will help guide the evolution of Uniswap governance, particularly delegation, in the right direction.
Recipient: Penn Blockchain. Penn Blockchain is one of the largest web3 student organizations in the country. They are active governance participants and delegates in many DeFi protocols, including Uniswap. This research opportunity will allow them to leverage their experiences in governance and explore the state of Uniswap’s delegation system, creating a comprehensive research report that gives the community clarity on what might be the best next steps for Uniswap governance.
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