Uniswap allocates $165M to ecosystem growth

The Uniswap (UNI) community has approved a governance proposal to provide $165 million to the Uniswap Foundation over the next two years to grow the Uniswap ecosystem, The Block reported. $95.4 million has been allocated for project grants, $25.1 million to fund operations and $45 million for liquidity incentives. This funding will be provided after the implementation of a “fee switch” process, which transfers a portion of the protocol’s revenue to UNI token holders. Uniswap has generated over $1 billion in annualized fee revenue.