Uniswap Unleashed
Summary: The Uniswap Foundation requests 20.32M UNI (~$120M) for their 2025/2026 budget.
Recommendation: Against. Link to our original comment.
As it currently stands, the Uniswap Foundation is an entirely independent organization. The DAO has no ability to direct, oversee, or manage the UF. Given the UF’s large request and track record, it is sensible for the Uniswap DAO to appoint a legal board to guide and support the foundation. Please review our comments from the forum thread for more information.
Further, it has come to our attention that the leading Uniswap v4 projects use a “No-Op” hook (see Hook Rank for where “No-Op” hooks are being used), enabling them to build more custom and unique functionality, bypassing the core Uniswap v4’s swap logic. While we appreciate how that enables novel applications to be developed, it cuts the DAO’s ability to turn on a fee for those pools.
The DAO, and the UF, with the DAO’s funding, should only be financially supporting hook/pool development where it can also accrue value.