Uniswap Foundation Reports $140.3 Million Revenue in Q1 2025 Driven by $140 Million Donation

The Uniswap Foundation has reported a significant financial milestone for the first quarter of 2025, with revenue totaling $140.3 million. This substantial figure is primarily attributed to a $140 million governance-approved donation, which underscores the strong support and confidence in the decentralized exchange platform. The remaining revenue was generated through interest and dividend payments on existing assets, highlighting the Foundation's effective asset management strategies.

As of March 31, 2025, the Foundation's assets amounted to $95 million, comprising $53.4 million in USD and stablecoins, along with 15.8 million UNI tokens and 257 Ethereum. This diversified asset portfolio ensures financial stability and liquidity, enabling the Foundation to fulfill its operational and grant commitments. The Foundation has also structured a $29 million loan against 5 million UNI tokens held as external collateral, providing immediate cash access while minimizing market impact and offering downside protection on the collateral.

The Foundation has committed $12.4 million to new grant programs in the first quarter, with $9.9 million allocated for multi-year programs extending through 2029. This long-term development strategy demonstrates the Foundation's commitment to the sustained growth and innovation of the Uniswap protocol. Select multi-year grants include repayment provisions, allowing Unichain Partners to reimburse up to 100% of committed amounts based on achieving specific growth metrics and performance targets. This approach not only supports the development of the protocol but also ensures accountability and sustainability in grant disbursements.

Operational expenses for the quarter totaled $1.9 million, excluding $100,000 in UNI token awards distributed to employees. The expense breakdown includes payroll, legal fees, accounting services, technical audits, consultant payments, office expenses, software subscriptions, transaction fees, general administrative needs, marketing, and advertising expenses. The Foundation has allocated $33.3 million for operations and employee compensation through January 2027, providing an operational runway extending nearly two years from the end of Q1 2025. This budget ensures the Foundation's ability to continue its strategic initiatives and maintain its competitive position in the evolving DeFi landscape.

The Foundation's Q1 strategy focused on establishing Uniswap and Unichain as foundational infrastructure for global digital value transfer. Key priorities included enhancing capital efficiency across EVM chains through targeted liquidity programs, building premier DeFi platforms through developer support and education programs, and investing in infrastructure expansion to grow the builder ecosystem and increase platform demand. Revenue diversification efforts aimed to activate sustainable income streams while equipping governance with formation tools, exploring legal entity structures, and validator network support for adaptive funding decisions. The organization also prioritized onboarding protocol-aligned contributors for long-term growth, targeting the maintenance of Uniswap’s competitive position in the evolving DeFi landscape.

The Foundation plans to release Q2 2025 financial results in its next transparency update, including additional grant commitments and disbursement data. This ongoing commitment to transparency and accountability ensures that stakeholders remain informed about the Foundation's financial health and strategic initiatives, fostering trust and support within the community.