The Uniswap community is entering 2025 with the momentum of three positive catalysts: a more collaborative regulatory environment, the launch of Uniswap v4, and the debut of Unichain. As we look to the months and years ahead, we see the potential for Uniswap Protocol and Unichain to cement themselves as foundational infrastructure for digital value transfer.

The Uniswap community has always pioneered—but pioneers don’t stay ahead by standing still. Achieving this vision will require more than just technological innovation; it demands strengthening network effects and evolving our governance system to fund, sustain, and grow the Protocol independently over time. We call for action, and for the broader community to work alongside us as we evolve Uniswap to its next era.

In this proposal, we define four strategic priorities for the years ahead:

Scaling network supply: Provide most capital efficiency across active EVM chains

Scaling network demand: Create premier DeFi development platforms

Equipping Governance and the community: Activate revenue

Equipping Governance and the community: Onboard Protocol Core Contributors

In this proposal, we discuss not only these priorities but also how we expect to achieve them alongside the community and how we, the UF, will measure our success. We also discuss our budget request to achieve these goals. Today we are also posting a request for incentives to support the growth of Uniswap v4 and Unichain. If approved, these funds would be managed, within pre-set parameters and onchain, by Gauntlet, while having control maintained by Uniswap Governance.

In this proposal, we are requesting an investment of $95.4M into the UF grants budget, and $25.1M to fund operations, for the next 2 years to fund these priorities. Based on today's (March 11, 2025) daily opening price of $5.93, this equates to 20,320,405 UNI.

We recognize and appreciate the size of this request. It reflects an investment into the success of the Uniswap Protocol and Unichain, and into value for the Uniswap community. Founded in 2022 with a singular focus on Uniswap v3, the UF now leads the growth of the developer ecosystem for a true developer platform in Uniswap v4, and an L2, Unichain. In addition, we are leveling up Governance to support long term sustainability with the creation of a Core Contributor program, new tooling like Conditional Funding markets, and more.

This proposal is an investment into the future of the Uniswap community. It is designed to match the scale of our mission while being backstopped by best-in-industry transparency reporting and an unrelenting drive to create value.

Transaction Details

This transaction calls the transfer function on the UNI token contract and passes it the amount (in the appropriate format) and the recipient address. Within three hours of this proposal being posted onchain, a detailed simulation will be available here. Log into Github, click on the top Governance Checks link and download the Uniswap artifact.