Uniswap Foundation reports $140M in Q1 revenue, $12.4M committed to new grants

A report by Uniswap (UNI) Foundation on May 23 stated that the majority of the revenue came from a $140 million donation that was authorized by Uniswap governance, with the remainder coming from interest and dividends. As of Mar. 31, the Foundation held $53.4 million in USD and stablecoins, 15.8 million UNI tokens, and 257 Ethereum (ETH), totaling about $95 million. 

Another 5 million UNI was used as collateral for a $29 million loan, giving the Foundation access to cash while limiting market impact. A total of $115.1 million has been set aside for grants, $99.8 million for 2025 and 2026, and $15.3 million for earlier commitments. The Foundation also earmarked $33.3 million to cover operations and staff compensation through January 2027.

Of the $12.4 million in new Q1 grants, $9.9 million was dedicated to multi-year programs running through 2029. Some grants include repayment options from Unichain Partners, depending on performance goals.

The Foundation’s Q1 strategy focused on strengthening Uniswap and its layer-2 network, Unichain, as key infrastructure for global digital finance. Priorities included improving capital efficiency across EVM chains, funding developer tools and education, expanding sustainable revenue models, and supporting long-term contributors.

Excluding $100,000 in UNI tokens given to staff, operating costs for the quarter came to $1.9 million. Expenses included marketing, software, events, legal and consulting fees, and salaries. 

The update comes after Uniswap achieved several significant milestones, such as the launch of Unichain in early 2025 and the achievement of a $3 trillion lifetime trading volume. In February, the Securities and Exchange Commission closed its investigation into Uniswap Labs without taking action, a move widely seen as positive for the decentralized finance ecosystem.

A Q2 financial update will follow with more data on grants, spending, and the Foundation’s financial position.