The Proposal: What’s on the Table?
Uniswap Labs is stirring the pot with a hefty proposal to kickstart a Uniswap Foundation in the United States, demanding a staggering $74 million. Fetching mixed bag reactions from the community, some raise a champagne toast while others look aghast at the price tag. The brains behind the operation, Devin Walsh and Kenneth Ng, are all set to ride the bureaucratic waves in Delaware, should the proposal pass a community vote on August 8.
Who’s in Charge?
Under the proposed plan, Walsh will step in as executive director, while Ng will take the reins as head of operations. Their mantra? To “support the Protocol’s decentralized growth, reinvigorate governance, and advocate for the Protocol,” according to Walsh. Sounds great, but is it worth the cash?
Breaking Down the Budget
The proposal breaks down the $74 million like a kid splitting their candy—$60 million would fuel the Uniswap Grant Program (UGP), with the remaining $14 million set aside as an operating budget to build a solid team of 12 ambitious builders. Many are scratching their heads, wondering why the UGP needs such a fat check after deploying merely $7 million in past grants.
Community Reactions: Cheers and Jeers
The community response to the foundation proposal is like an emotional rollercoaster. Uniswap’s founder Hayden Adams tweeted his enthusiastic approval, stating, “Sooo excited about this proposal!” His vibes have been met with some skepticism. For instance, Adam Cochran from Cinneamhain Ventures thinks the $60 million request comes off as “misguided,” considering the current UGP has been underwhelming at best.
Looking Ahead: What’s Next?
As the voting date inches closer, the community’s mixed feelings could possibly lead to a neck-and-neck finish. While some folks are fighting for a brighter Uniswap ecosystem, others worry about financial accountability and whether the foundation’s vision aligns with the community’s aspirations for growth and research. Will the vote tilt toward “yay” or “nay”? Only time (and a bit of voting magic) will tell!
