Uniswap Foundation gets green light after 99 percent of the community casts their vote in favour of the initiative
After getting mixed reactions from the community earlier, the proposal passes the final hurdle following voting on Wednesday
By Shashank Bhardwaj
Two former Uniswap Lab executives launched a $74 million plan to form a new Uniswap Foundation, and it is well on its way to becoming a reality after a massive 99 percent of votes on their proposal by Uniswap holders. Devin Walsh, one of the people behind the proposal, shared the results in a tweet, saying that it “passed its final vote!”. The foundation aims to streamline Uniswap’s Grant Program (UPG) as well as decrease conflict in the protocol’s governance system.
According to the Uniswap website, the foundation proposal saw upwards of 86 million people in support while only 770 people seemed to be in disagreement. This is a huge turnaround from early August when the initial proposal was put out since it received largely mixed reactions from the community.
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