Decentralized exchange (DEX) Uniswap is seeking an on-chain vote to approve the second tranche of the $74 million funding for its developer, Uniswap Foundation.
According to the Sept. 27 announcement, the second tranche of funding, with a buffer of 10% for price volatility, is worth an estimated $62 million and will be decided via an on-chain vote on Oct. 4. If approved, the funds will be used for operations and research grants. The Uniswap Foundation is responsible for growing core protocol metrics, building a pipeline for innovation and aligning incentives for stakeholders of the popular DEX.