Uniswap, a decentralised exchange (DEX), is seeking an on-chain vote to approve the second tranche of the $74 million funding for its developer, Uniswap Foundation, stated Cointelegraph.
With insights from the September 27, 2023, announcement, the second tranche of funding, with a buffer of 10% for price volatility, is worth about $62 million and will be decided through an on-chain vote on October 4, 2023.
Sources revealed that if approved, the funds will be used for operations and research grants. The Uniswap Foundation is expected to be responsible for growing core protocol metrics, building a pipeline for innovation and aligning incentives for stakeholders of the popular DEX, Cointelegraph added.
Furthermore, dvelopers explained that over the next year, they plan to build a software development kit for Uniswap v4 and support its subsequent migration, Cointelegraph concluded.
(With insights from Cointelegraph)