The Uniswap Labs project developer team has submitted a proposal to the community that involves the creation of a non-profit organization to support the growth of the decentralized exchange.
The team has asked the community for a total of $74 million to implement the initiative.
The proposal has been backed by Devin Walsh, Head of Human Resources at Uniswap Labs, and Kenneth Ng, Head of the Uniswap Grants Program (UGP).
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According to Walsh:
"Uniswap Foundation has the mission to support the decentralized growth and sustainability of the Uniswap Protocol and its supporting ecosystem and community."
The foundation will award grants to developers, scientists, analysts and others involved in the development of the protocol.