Today we are announcing the Uniswap Foundation’s third wave of grant disbursements!
This third wave of grants sum up to a total of ~$990k, awarded across 21 grants. The grants are spread across flour categories:
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Protocol Growth, including grants to enhance the Uniswap v3 SDK and the LP toolkit.
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Research & Development, including research on checkpoint-free TWAP oracles and cross-chain MEV market structure dynamics.
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Community Growth, including grants that support industry wide public goods around analytics and in-person events co-hosted by FWB.
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Governance Stewardship, including research about novel governance structures and an assessment of bridges for governance message passing.
We are also particularly excited to highlight three grants: “Checkpoint-free” TWAP Oracles, Uniswap v3 SDK Rewrite, and LP University: Beginner to Intermediate Course to Uniswap v3.
The first grant we’re highlighting is Axiom’s research and prototype production of “Checkpoint-free” Uniswap v2 and v3 TWAP oracles. The research and development on oracles of this form has the potential to reduce the risk of oracle manipulation and increase usage of trustless on-chain based oracles in DeFi applications which rely upon oracles. The proof of concept removes the need for checkpointing in v2 TWAP and the caching overhead of v3 oracles. The Axiom team has extensive expertise in the zero-knowledge systems and blockchain infrastructure.
The second grant we’re highlighting is the Uniswap v3 SDK Rewrite by Koray and Florian. This will support updates and improvements to the Uniswap v3 SDK, including an update to the JavaScript SDK documentation, updates to the existing v3 SDK code to make the architecture design modern and more efficient, and the addition of a new test suite. The team has a vast array of technical experiences, including the creation of web3.swift, one of the most widely used crypto developer tools for iOS, and the revival of web3.js.
Finally, we’d like to highlight DoDao’s creation of LP University: Beginner to Intermediate Course to Uniswap v3. This will be a fantastic resource for those who have wanted to learn how to LP, but didn’t know how. This grant will support the creation of an interactive educational experience for potential new liquidity providers from a beginner to an intermediate level. The course will cover an introduction to AMMs, fundamentals of Uniswap v3, active and passive LPing strategies, and more. DoDao’s team has extensive experience in creating educational content within the crypto ecosystem.
Protocol Growth
Messari LP Strategy Configurator (RFP)
This grant supports the build out of a feature-complete data application that will be hosted as a free resource on messari.io. The resource will include a number of features, including pair correlations, price band analysis, backtesting of LP positions, simulation of future returns, pool rankings based on a number of relevant metrics, and the ability to track performance of position over time, and more.
Grant Size: $45,000, across 3 disbursements
Impact: Enhance the LPing experience, allowing users to hone in on successful strategies and optimize for returns.
Recipient: Messari. Messari is a leading provider in crypto market intelligence products for individual users and businesses.
v3 SubGraph Developer Docs
This grant creates comprehensive documentation of the v3 subgraph repository for deployed chains, including all necessary information to understand the logic of the v3 subgraph and to update it with any future protocol changes.
Grant Size: $9,000, across 3 disbursements
Impact: Create a shared knowledge base on the logic behind Uniswap V3 subgraphs. This will support users of the subgraph in better understanding the data queried from the subgraph and developers using this subgraph as base for future improvements
Recipient: Aditya Agarwal. Aditya is a distributed systems developer turned web3 developer. He began work on this project at the Devcon Arbitrum Hackathon (also funded by the UF), and completed it in subsequent weeks.
Compounder.fi
This grant supported a minimum viable product of a smart contract that will handle automatic compounding of fees for LPs. Compounder.fi is a protocol designed to help passive liquidity providers on the Uniswap v3 platform by automatically reinvesting fees they earn at a lower gas cost. Try their newly created tool here.
Grant Size: $5,000, across 2 disbursements
Impact: Assist LPs in easily and automatically compounding their fees by leveraging atomic transactions, allowing them to save on gas and maximize capital efficiency.
Recipient: Compounder.fi. A young group of smart contract developers actively exploring and experimenting with the creation of innovative functionalities aimed at enhancing the user experience for liquidity providers.
Demeter Backtesting Tool
This grant supported a professional backtesting tool for Uniswap v3 LP strategies. The following functionalities will be included: support of multiple chains, backtesting of strategies with multiple pools, and high quality documentation to make the backtester easy to use. Try out the completed backtesting tool here.
Grant Size: $3,000, across 1 disbursement
Impact: Enhance the LPing experience by making it easier to test your LP positions with a top grade python library.
Recipient: Zelos. Zelos is a group under Antalpha Labs and focuses on providing financial engineering tools for DeFi.
LP Strategy Configurator (RFP)
This grant supports the build out of an LP tool that actively helps LPs structure their strategy according to their financial preferences and risk appetite, especially power users with sophisticated LP strategies.
Grant Size: $45,000, across 2 disbursements
Impact: Further equip LPs in defining an appropriate strategy.
Recipient: Chaos Labs. Chaos Labs is an economic security and risk management platform that helps DeFi protocols and their users navigate the volatile crypto markets and make informed decisions.
Uniswap v3 SDK Rewrite
This grant supports enhancements and updates to the Uniswap v3 SDK. This will include an update to the JavaScript SDK documentation, an update to the actual SDK code to make the architecture design modern and more efficient, and the addition of a new testing suite. Furthermore, it includes bug fixes for both the v2 and v3 SDK, and it aims to make the code for liquidity management easier to use.
Grant Size: $216,000, across 4 disbursements.
Impact: Help developers build on top of Uniswap easier with a modern, sophisticated, and easy to integrate SDK.
Recipient: Koray and Florian. The team has been in the crypto space since 2012, creating Web3.swift, which is one of the most widely used crypto developer tools in the mobile development ecosystem.
Uniswap Incentive Program Analysis
This grant supports Gauntlet’s research and development into incentive programs for the Uniswap DAO. This grant will include a quantitative framework to evaluate the success or failure of any given incentives program, an analysis of LP / Trader dynamics using the Uniswap protocol in how they respond to various incentives, a list of possible programs to run with a detailed breakdown of tradeoffs between each, and a go/no-go recommendation for an incentives program grounded in the quantitative framework originally proposed. Read the first two analyses here: Part 1, Part 2.
Grant Size: $126,000, across 3 disbursements.
Impact: Provide the basics for Uniswap to make a scientifically grounded decision for which incentive programs would best serve the DAO.
Recipient: Gauntlet Network. Gauntlet is a platform for on-chain risk management. Gauntlet uses battle-tested techniques from the algorithmic trading industry to help protocols manage risks, fees, capital efficiency, and incentives.
Research & Development
Uniswap v3 for DAOs’ Liquidity Needs – Comprehensive Research (RFP)
This grant supports research that assesses the current state of Uniswap v3 adoption as a liquidity management solution. The grantee will propose new solutions to further improve Uniswap v3 offering in this space and consolidate the findings in format that can be used as onboarding documentation for using Uniswap v3 as a liquidity management solution.
Grant Size: $15,000, across 4 disbursements.
Impact: Make it easier for DAOs, teams, and individuals to manage token liquidity on Uniswap v3.
Recipient: Carvas. Carvas is a contributor to Lido, where he researches and manages on-chain liquidity.
TWAP Oracle Research (RFP)
This grant supported further research into Uniswap TWAP oracles, specifically related to their risk of manipulation.The two outputs from this grant were a research report covering the feasibility and rationality of different attack vectors, and a free to use Chaos Labs-hosted dashboard that highlights these attack vectors while giving users the customization around inputs to understand the implications on attack economics and defense strategies. Read the completed article here and test out the accompanying tool here.
Grant Size: $30,000, across 2 disbursements.
Impact: Inform the community about TWAP manipulation risks and strategies to help prevent them.
Recipient: Chaos Labs. Chaos Labs is an economic security and risk management platform that helps DeFi protocols navigate the volatile crypto markets and make informed decisions.
Checkpoint-free TWAP Oracles (RFP)
This grant supported the prototype production of “Checkpoint-free” Uniswap v2 and v3 TWAP oracles. This consisted of atomic computation of the Uniswap v2 or v3 TWAP between arbitrary historical blocks, removing checkpointing for v2 and caching overhead in v3. In particular, Axiom delivered prototypes of SNARK circuits for TWAP computation, smart contracts to verify SNARKs and access TWAPs, and a coordinator node to generate and submit proofs. Read the finished blog post here.
Grant Size: $20,000, across 2 disbursements.
Impact: This can potentially reduce the risk of TWAP oracle manipulation and increase usage of trustless Uniswap-based oracles in downstream DeFi applications.
Recipient: Axiom. Axiom is building a ZK coprocessor for Ethereum which provides smart contracts with trustless access to on-chain data and expressive computation over it.
Uniswap Monthly Financials Part 2
This grant supports the continuation of Uniswap Monthly reports that create a consolidated overview of the state of the Uniswap Protocol on all networks, presenting data similar to those of traditional financial reports. These reports will include the analysis of fees collected and treasury expenses.
Grant Size: $7,000, across 3 disbursements.
Impact: Allow community members to continue to easily keep up with the Uniswap treasury, cash flows, and overall protocol financial health.
Recipient: Adalhi Abderrahman. Adalhi is an active contributor to Asymmetric DeFi and an active Flipside Data Analyst, and has created 64 dashboards about DeFi protocols.
Institutional LP Research (RFP)
This grant supports research on institutional capital onboarding, specifically identifying obstacles that are preventing institutional investors from entering the market and providing potential solutions to overcome these challenges.
Grant Size: $60,000, across 2 disbursements.
Impact: Alleviate barriers that are preventing institutional investors from entering the market.
Recipient: 2 teams – Alastor & Pickel2379. Alastor is a strategic and financial advisor for web3, and they have conducted similar qualitative and quantitative analyses for other top DAOs as well. Pickel2379 is a talented product manager with multiple years of experience in the industry.
Research on Cross-Chain MEV Market Structure Dynamics (RFP)
This grant supports research into the expanding research being conducted on cross domain MEV. In addition, the grant will help develop the diamond protocol as a publicly available Uniswap wrapper to protect pools against cross domain value extraction.
Grant Size: $21,600, across 3 disbursements.
Impact: Inform the community about cross-chain market structure dynamics and the opportunities and threats they carry for the Uniswap ecosystem.
Recipient: Conor McMenamin. Conor is a graduating PhD researcher, whose thesis primarily focuses on DeFi and MEV mitigation.
Community Growth
CryptoStats – Cryptofees.info
This grant supports the maintenance of Cryptofees.info. Cryptofees.info provides users with data and visualizations around fees generated by different crypto projects.
Grant Size: $12,000, across 2 disbursements.
Impact: As a large foundation in the industry, the UF aims to support public goods that the broader blockchain and DeFi ecosystems can benefit from.
Recipient: CryptoStats. CryptoStats is a public goods data company that provides neutral crypto metrics for the community.
University Outreach and Education
This grant supports the organization of web3 bootcamps within Indian universities. The Blotic community currently consists of 7 college chapters and aims to further host events for these students.
Grant Size: $300, across 1 disbursement.
Impact: Inform and educate college students without much prior exposure around web3 topics, increasing the likelihood of more students entering the industry.
Recipient: Blotic. Blotic is a web3 community targeting students from Indian universities to help them in their blockchain career journey.
Content on Advanced LP Strategies for Uniswap v3 (RFP)
This grant supports content development around advanced strategies for providing liquidity. The strategies will be presented in the form of articles and will include an examination of various hedging solutions and alternative strategies. Read the first three articles here: Part 1, Part 2, Part 3.
Grant Size: $10,500, across 3 disbursements.
Impact: Today, developing advanced strategies to manage risk for Uniswap v3 LPs is still nascent, so these articles are a solution to improve the expertise of LPs by sharing information on strategies and previous analyses.
Recipient: Atis Elsts. Atis has completed a PhD in computer science, and has consulted numerous companies building on top of Uniswap or LPing.
FWB Event Partnership and Production
This grant supports the co-creation, production, and population of an upcoming FWB x Uniswap Foundation event.
Grant Size: $20,000, across 2 disbursements.
Impact: IRL events are key to bringing communities closer together through shared experiences and conversations.
Recipient: FWB. FWB is a social network made up of creatives and builders that have a proven track record of successfully hosting events.
LP University: Beginner to Intermediate Course to Uniswap v3 (RFP)
This grant supports the creation of an interactive educational experience for potential new liquidity providers from a beginner to intermediate level. The topics will cover an introduction to AMMs, fundamentals of Uniswap v3, active and passive strategies, and more.
Grant Size: $40,000, across 4 disbursements.
Impact: Onboarding new users to the Uniswap Protocol by teaching them the basics of LPing.
Recipient: DoDao.The team consists of developers who all have experience working on academy websites and creating free DeFi content. Past partners include: Aave, Project Serum, ENS, Balancer, and Compound.
Content on Advanced LP Strategies for Uniswap v3 (RFP)
This grant supports a series of informative articles that will cover a wide range of topics from various hedging solutions to exploring alternative strategies. The articles will include examples of code, desmos animations, and gifs that share the mathematical intricacies of Uniswap v3. Read the first three articles here: Part 1, Part 2, Part 3.
Grant Size: $10,000, across 3 disbursements.
Impact: Enhance the proficiency of Uniswap v3 liquidity providers by disseminating knowledge about advanced liquidity provision techniques.
Recipient: Vasily Tolstikov. Vasily is a frequent Uni v3 LP, had won the ETHSF2022 award on optimizing Uniswap LP positions under delta-neutral conditions. He also has experience as a financial engineer for a DeFi options protocol and has taught a data science course at UC Berkeley.
Governance Stewardship
Uniswap Cross-chain Bridge Assessment Process
This grant supported the first community bridge assessment committee. The committee first defined the Uniswap DAO's cross-chain governance use case, along with its functional and non-functional requirements. They then built a framework for evaluating cross-chain messaging protocols for their suitability in this use case, and applied that framework to a number of protocols. The result is a report that the Uniswap community can use to evaluate both existing and future options for cross-chain governance, and a framework that bridge protocols can use to help guide their design choices.
Grant Size: $289,305
Impact: Help community members make more informed decisions around which bridge to use for cross-chain deployments of Uniswap, while clarifying the requirements of the Uniswap governance use case for bridge teams.
Recipients: Ben O’Neill, David Hyland-Wood, Ermyas Abebe, Jasraj “Jazzy” Bedi, Kimberly Adams, Mikerah Quintyne-Collins, Peter Robinson, Robert Chen, Sean Casey. The committee was composed of six engineers and two project managers without ties to an existing bridge project who were selected for their expertise in cross-chain topics and protocol design.
Uniswap DAOlitical Party Research
This grant supports the research around potentially forming DAOlitical parties coinciding with the implementation of governance primitives such as Voting Vaults and veToken models.
Grant Size: $3,000, across 2 disbursements.
Impact: Ideating and further researching potential solutions to current Uniswap Governance problems to better the decentralization of the protocol.
Recipient: Jeremy Guzman. Jeremy is a past grant recipient who also participated in the Optimism Delegation Committee.