Crypto: Uniswap Foundation supports DeFi with grants

The Uniswap Foundation (UF) announced this Wednesday, the first wave of grants. It thus provides for the distribution of a total of 1.8 million dollars. 14 different projects will benefit from these grants. It will be the Uniswap Diamond project that will have the largest share of $800,000. The group behind the decentralized exchange (DEX) giant is looking to support decentralized finance (DeFi). It also aims to advance research and development under these waves of grants.

14 beneficiary projects

Different projects, 14 in number, will benefit from the waves of grants awarded by Uniswap Foundation. These financings will have a total value of 1.8 million dollars. However, Uniswap Diamond will be the lucky recipient of the largest amount of $808,725. This is an ongoing project of GFX Labs. According to UF, this project is among the most ambitious to benefit from subsidies by Uniswap. Indeed, this project aims to improve the experience of professional traders and LPs. It also aims to facilitate the development and analysis of on-chain data. But not only that, it is also looking to increase its market share.

The other grants will be distributed to projects such as Numoen, and Decentralized Volatility Oracle. Numoen is a constant function market maker and, a Uniswap data mining tool. UF clarified that the size and scope of grants fall into three distinct categories, namely: protocol growth, community growth, and governance stewardship.

Uniswap Grant
Uniswap Foundation supports DeFi with grants / source: News Bitcoin

Uniswap: community grants awarded to promote DeFi

In addition, the Uniswap Foundation also provides community grants to promote DeFi in Latin America and Africa. In South America, they include a series of events, workshops and gatherings. In Africa, it will be a sponsorship of the “Ghana Crypto and DeFi Summit 2022”. The foundation also awards a grant to the Phi Metaverse. This is a project that aims to support the creation of Uniswap-specific assets and quests in-game. Next, the Ignition virtual hackathon will enjoy another sponsorship grant from the Uniswap Foundation. Finally, Holdim, which is a governance stewardship solution, will also benefit from support from the FU.

It should be noted that Uniswap only holds about 1% of the crypto exchange market share. This is one of the functions of Uniswap Diamond, recipient of a grant, which will serve to amplify this share. To do this, it competes directly with the main centralized platforms in terms of user experience and data. UF also aims to revitalize the governance process.

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