Uniswap Foundation Commits $26M in Grants During 2025

TLDR

• The Uniswap Foundation held $85.8 million in total assets at the end of 2025.
• The treasury included $49.9 million in cash and stablecoins, 15.1 million UNI, and 240 ETH.
• The foundation committed $26 million in new grants during 2025.
• It disbursed $11 million tied to prior grant commitments.
• Operating expenses for the year reached $9.7 million, excluding token awards.

The Uniswap Foundation closed 2025 with $85.8 million in total assets and confirmed $26 million in new grant commitments during the year. It disclosed $49.9 million in cash and stablecoins, alongside 15.1 million UNI tokens and 240 ETH. The foundation outlined allocations for grants and operations while projecting a runway into January 2027.

Uniswap Foundation Reports Year-End Treasury and Grant Allocations

The Uniswap Foundation published unaudited financials showing $85.8 million in assets as of Dec. 31, 2025. It held $49.9 million in cash and stablecoins, plus 15.1 million UNI tokens and 240 ETH. The report detailed capital set aside for ecosystem growth and operating needs.

The foundation allocated $106.2 million to grants and incentives, with $87.5 million pending commitments and $18.7 million reserved for disbursement. It earmarked $26.3 million for operations and employee token awards. The group projected its funding would support activities through January 2027.

The foundation committed $26 million in new grants during 2025 and disbursed $11 million from earlier commitments. In Q4, it committed $5.8 million and disbursed $2.1 million. Operating expenses reached $9.7 million, excluding 450,000 UNI in employee token awards.

On the revenue side, the foundation received 20.3 million UNI from the Uniswap Treasury. It valued those tokens at roughly $114 million at year-end prices. It also earned $1.7 million in interest income on fiat holdings.

The figures reflect the position before governance approved the “UNIfication” proposal on Dec. 26. That proposal restructured the relationship between the foundation and the broader ecosystem. As part of the change, organizers formed a new legal entity called DUNI.

UNI and ETH Holdings Back Ecosystem Expansion Plans

The foundation confirmed it held 15.1 million UNI tokens and 240 ETH at year-end. It reported UNI trading at a 3.69% increase and ETH at a 4.71% gain during disclosure. These holdings form part of the foundation’s treasury base.

The foundation supports the development of the Uniswap protocol through grants and incentives. It stated that over 1,500 developers were onboarded to Uniswap v4 during 2025. The v4 release introduced hooks and a programmable liquidity architecture.

The organization also highlighted the launch of Unichain, a dedicated chain for high-performance DeFi applications. It said these infrastructure upgrades expanded protocol capabilities during the year. Governance also approved activation of protocol fees across v3 pools.

Uniswap ranked among the leading decentralized exchanges by fee generation during 2025. It competed closely with Aave in monthly revenue metrics. The foundation confirmed that BlackRock and Securitize used Uniswap for onchain access to the BUIDL tokenized fund.

The foundation stated that it will update its runway outlook in its Q1 2026 report. It said the update will reflect post-UNification organizational changes. The current projection extends operations into early 2027.

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