Uniswap's new proposal seeks $74 million to establish the Uniswap Foundation (UF)

According to BlockBeats, on August 5th, the Uniswap community released a new proposal to establish the Uniswap Foundation (UF). UF's mission, according to the proposal, is to support the Uniswap protocol and the decentralized sustainable growth of the ecosystems and communities it supports. UF will provide grants to builders, researchers, organizers, academics, analysts and more to develop the agreement and plan its future. Devin Walsh, former chief of staff at Uniswap Labs, will serve as executive director, while Ken Ng will be head of operations and will build a team of 12 people. To achieve this goal, the team is seeking a total of $74 million in funding, split into two payments. The first payment of $20 million includes: a $14 million operating budget to cover the full team for three years; The $60 million Uniswap Grants Program(UGP) budget was extended over three years. Governance participation through the authorization of 2.5 million UNI Tokens is also required. Through The use of The new smart contract The Franchiser 8, these UNI Tokens will be revocable by DAO at any time and cannot be used for any purpose other than governance.