TLDR
- Uniswap Foundation held $148.4 million in total assets including $53.4 million in cash and stables as of March 31, 2025
- Foundation committed $12.4 million in new grants during Q1 2025, with $9.9 million allocated for multi-year projects through 2029
- Operating expenses totaled $1.9 million for the quarter, excluding employee token awards
- Foundation received $140 million in donations through a governance proposal during Q1
- Runway funding extends through January 2027 with $115.1 million allocated for grants and $33.3 million for operations
The Uniswap Foundation released its Q1 2025 financial summary showing total assets of $148.4 million as of March 31, 2025. The decentralized exchange protocol’s foundation held $53.4 million in USD and stablecoins, 15.8 million UNI tokens, and 257 ETH.
The foundation also maintained 5 million UNI tokens as external collateral against a $29 million loan. This loan structure allowed immediate USD liquidity access while providing downside protection on the collateral.
During the first quarter, the foundation committed $12.4 million in new grants to support protocol development. Of this amount, $9.9 million was allocated for long-term projects spanning 2026 through 2029.
The foundation disbursed $2.1 million in previously committed grants during Q1. Some multi-year commitments include provisions allowing Unichain Partners to reimburse up to 100% of committed amounts upon achieving growth metrics.
Strategic Priorities and Operations
The foundation’s Q1 strategy focused on four main areas. These included enhancing capital efficiency across EVM chains, developing DeFi platforms, activating revenue streams, and onboarding protocol-aligned contributors.
Operating expenses totaled $1.9 million for the quarter, excluding $0.1 million in employee token awards paid in UNI. Payroll represented the largest expense category, covering salaries, benefits, and taxes.
The foundation received $140 million in donations during Q1 through a governance proposal called “Uniswap Unleashed.” This funding boost contributed to the foundation’s strong financial position.
Financial Runway and Allocation
The foundation’s current runway extends through January 2027 based on projected expenses. A total of $115.1 million has been allocated for grant commitments and incentives over this period.
Within the grant allocation, $99.8 million is earmarked for commitments in 2025 and 2026. An additional $15.3 million is reserved for previously committed grants awaiting disbursement.
Operations funding totals $33.3 million through January 2027. This covers employee expenses and token awards for foundation staff and contributors.
The foundation plans to release Q2 2025 financial results in its next update. This will include additional details on grant commitments, disbursements, and operating expenses for the second quarter.
The foundation maintains UNI reserves for future runway needs while allowing for additional upside exposure. The loan structure against UNI collateral provides flexibility for accessing liquidity without immediate market impact.
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