Uniswap Foundation Posts Q1 2025 Financials: $140M in Revenue

The Uniswap Foundation has published its unaudited Q1 2025 financial report, highlighting robust financial activity and strategic investments

The Uniswap Foundation has published its unaudited Q1 2025 financial report, showcasing robust financial activity and strategic investments to strengthen the protocol’s long-term future.

As of March 31, the Foundation held a total of $95 million in assets, comprising $53.4 million in cash and stables, 15.8 million UNI tokens, and 257 ETH. An additional 5 million UNI tokens were pledged as collateral for a $29 million loan, which the Foundation used to access fiat liquidity with downside protection.

Grant Funding and Long-Term Commitments

During the first quarter, the Foundation committed $12.4 million in new grants, with $9.9 million earmarked for multi-year projects extending into 2029. Of that total, $2.1 million was disbursed.

These long-term commitments come with performance-based reimbursement provisions by Unichain Partners, offering up to 100% repayment if specific growth targets are met.

Looking ahead, Uniswap has allocated $115.1 million in total grant funding—$99.8 million across 2025–2026 and $15.3 million for previously committed disbursements. Operational expenditures, including employee token awards, are projected at $33.3 million through January 2027.

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Strategic Priorities and Revenue

The Foundation’s Q1 strategic focus included enhancing capital efficiency across EVM chains, developer ecosystem expansion, governance infrastructure, and onboarding core contributors. This approach is part of the broader “Uniswap Unleashed” strategy to establish Uniswap and Unichain as foundational components for global digital value transfer.

In Q1 alone, the Foundation reported $140.3 million in revenue—$140 million of which came from governance-approved donations. Operating expenses totaled $1.9 million, with an additional $100,000 in UNI-based employee awards.

Uniswap says Q2 results will follow soon, with full-year FY 2024 financials already available.