Continuing with our series of financial transparency updates to the community, the Uniswap Foundation is excited to post the unaudited summary financials for the quarter ended June 30, 2024.

Assets on Hand and Projected Funds Usage

On June 30, 2024 we had $36.81 million in USD and stables on hand and UNI 0.68 million (in UNI).  The fiat (USD) cash and stables are to be used for grantmaking and operating activities and the UNI for employee token awards.  The expected runway was through the end of 2025 and was earmarked as follows.

Grants commitments and incentives: a total of $26.12 million was allocated towards grants. $22.46 million to be committed in 2024 and 2025 and $3.66 Million was reserved for grants committed previously, to be disbursed. The remaining $10.69 million was to be used to fund operations expenses through the end of 2025.

Q2’2024 Grants Committed and Disbursed

In Q2’2024, the Foundation committed $3.22 million in new grants and disbursed $2.48 million in committed grants.

Q2’2024 Commitments and Disbursements Detail

Year to date June 30, 2024, $7.55 million in grants were committed and $5.27 million in funds disbursed. Q1’2024 financials, including grant commitments and disbursements, and operating expenditures are available to view here.

Q2’2024 Summary of Activities

In Q2’2024, the Foundation accrued $1.6 million in operating expenses, excluding employee token awards in UNI.  YTD June 30, 2024 operating expenses were $2.63 million.  The Foundation also realized $0.19 M in Other Revenue: Dividends and Interest in Q2’2024.

Payroll expenses included salaries, benefits and taxes. Contract & professional fees included legal, accounting, technical audit, and consultant expenses. Office expenses included internal team events, such as offsites, software, transaction fees and other G&A. External events included conference and external event travel and attendance. Advertising & marketing included web design, agency fees, TLDR event hosting. Insurance: includes directors and officers insurance.

In the following financial update post, we will continue to share a snapshot of 3rd Quarter 2024 results, including grants commitments and disbursements, operating expenses and summary of financial position. 2023 unaudited financial summary is available here.