[RFC] Uniswap Growth Program Renewal

[alphagrowth]

[RFC] - Uniswap Growth Program Renewal

Authors: ReservoirDAO, AlphaGrowth, Blockchain Education Network

Introduction

Over the past six months, the Uniswap Growth Program trial has delivered strong early results and demonstrated the value of a dedicated and cohesive growth function within the Uniswap DAO. This proposal outlines a renewal of the Growth Program, building on the trial’s momentum to scale Uniswap’s presence and reinforce its role as the liquidity layer of the internet.

Key highlights from the trial phase include:

• Secured nearly $5M in incentives from ecosystems including Boba, Celo, BOB, Saga, Optimism, and zkSync. The remainder is waiting to be deployed, pending the launch/completion of incentive campaigns and pending grant disbursements.
• Deployed $950k+ in incentives, resulting in $10M+ in incremental TVL.
• Hit 4M+ impressions in March for the GrowUniswap account.
• Released 13 episodes of the Ungovernable series, reaching nearly 1.5M cumulative views.

Our most recent Growth Program update highlights key initiatives and outcomes from the trial phase, showcasing the building blocks we’ve built and the momentum we’re carrying forward.

Key Lessons from the Growth Trial

The Growth Program trial surfaced key insights about what’s working and what’s needed to scale Uniswap’s presence and market share. The Growth Program is well-positioned to continue supporting development firms like Oku and Protofire for new Uniswap deployments, the UEII team in securing strategic incentive programs, and driving volume and TVL to Uniswap.

However, the release of Uniswap V4 and Unichain has fundamentally changed the potential for how Uniswap can grow. Uniswap is no longer just a DEX; it’s a platform. Growth is no longer just about new deployments and securing incentives; it’s about supporting an ecosystem of builders, accelerating real use cases, and expanding Uniswap’s reach beyond the traditional DeFi user base.

With that in mind, here are the key lessons we’re taking into the next phase:

1) Ecosystem Projects Need Growth Support

As Uniswap shifts from a DEX to foundational DeFi infrastructure, the success of ecosystem projects becomes a proxy for Uniswap’s own growth. However, projects, especially those building on v4, often face a cold start problem, introducing the go-to-market complexity. While the Uniswap Foundation has laid strong groundwork through initiatives like Atrium Academy and the UF Security Fund to help projects reach product-market fit, many teams still lack a clear post-launch growth strategy.

That’s where the Growth Program comes in. We’ve engaged directly with over 20 V4 hook teams to understand their needs and provide hands-on support through introductions, social amplification, podcast features, and ecosystem coordination. With the program renewal, we aim to scale this support model to meet the evolving needs of current and future builders on Unichain and v4. Below are a few examples of direct feedback from ecosystem teams:

The launch of Unichain has also unlocked a new phase for Uniswap. Growth now depends not just on deployments, but on activating the broader ecosystem built around them. The Foundation has played a key role in onboarding early teams and deploying incentives to jumpstart Unichain activity. Yet, outside of incentivized pools, activity remains limited. According to DeFiLlama, 19 of the 23 protocols live on Unichain have less than $250k in TVL. Growth is needed to support these ecosystem projects.

DeFi ecosystems work when they create gravity. Think of it like Disney World. The goal is not just to bring people in, but to make them stay. Disney does this by building a world that keeps you engaged, entertained, and surrounded by everything you need. Uniswap should work the same way. A place where users show up, interact with protocols, find markets that meet their needs, and have no reason to leave. That means having the products, activities, and assets that keep users in the Uniswap ecosystem, with UNI playing a central role in that experience.

2) Expanding Beyond the Crypto Bubble

While continuing to pursue new chain deployments and secure incentives remains essential for capturing market share within the crypto-native community, long-term growth depends on breaking into entirely new markets. Uniswap must not only compete where DeFi lives today, but expand to where it doesn’t.

Platforms like OKX are already embedding DeFi directly into Web2 sites. Their Twitter integration lets users view token prices, charts, and execute trades without ever leaving the app. It’s a clear example of Embedded DeFi meeting users where they already are.

Early conversations with teams like Brave, Telegram, and Kiln highlight similar opportunities for Uniswap. By embedding swaps, token data, and other information into browsers, high-traffic websites, and fintech apps, Uniswap can unlock new distribution funnels and expand its reach.

Bridging Into the Next Phase

These lessons point to a clear next step: the Growth Program should expand to reflect Uniswap’s evolution and its broadening role in DeFi. We propose continuing to support deployments and incentives while also aiming to unlock new distribution channels, support high-potential builders, and generate ecosystem activity.

Expansion Tracks for the Growth Program

To drive this next phase, we’re proposing three new exploratory growth tracks: Embedded DeFi, V4 Outbound, and Unichain Outbound. Each track implements a specific lesson learned during the trial and is designed to unlock new distribution, deepen ecosystem support, and grow the Uniswap Ecosystem.

Unichain Outbound

The Growth Program trial demonstrated the effectiveness of the outbound strategy. We engaged over 70 blockchain networks and protocols to drive deployments, secure over $5M in incentives, and support ecosystem growth. As Uniswap evolves into a platform, we propose expanding this outbound business development to include Unichain.

As part of the Growth Program renewal, we propose conducting a structured gap analysis to map protocol coverage, assets, and DeFi markets across Unichain. It will serve as the backbone of our outbound strategy, helping us prioritize the highest-leverage opportunities in coordination with Uniswap Foundation. Based on the findings, we’ll engage directly with the protocols best positioned to close these gaps. Once integrated, we can support those teams to design markets and implement strategies that retain TVL and strengthen user engagement across the Uniswap ecosystem.

We’ve already supported deployments like Compound on Unichain and helped launch UNI markets on protocols like Venus. This next phase will scale that work by filling ecosystem gaps and bringing on projects and builders to the Uniswap ecosystem.

V4 Builder Outbound

The launch of Uniswap V4 introduced a new level of flexibility for on-chain liquidity through hooks. During the Growth Program trial, we initiated early outbound engagement with experienced builders and protocols wanting to explore how to leverage V4 hooks.

We propose expanding outbound business development to additionally focus on engaging qualified builders and existing protocols to drive high-quality Uniswap V4 hook integrations. This track will concentrate on identifying promising teams, initiating conversations around V4 adoption, and connecting them with the appropriate technical and ecosystem resources. The goal is to accelerate meaningful adoption of V4 by helping convert early interest into use cases that showcase the power and potential of Uniswap V4.

Embedded DeFi

As DeFi matures, the next frontier is integrating with high-traffic platforms outside the crypto-native bubble. The Growth Program will pursue deep integrations with Web2 and hybrid platforms, such as websites, fintech apps, and browsers, using Uniswap SDKs/widgets, in-app integrations, or deeper partnership integrations.

These integrations bring Uniswap to users in the environments they already trust. By embedding DeFi functionality directly into familiar apps and interfaces, we reduce onboarding friction, simplify the user experience, and open the door to a broader, more mainstream audience.

Embedded DeFi opens up new user funnels and distribution channels. It’s how we’ll bring Uniswap to users who aren’t yet in DeFi, and grow the brand far beyond protocol deployments. This is how we make Uniswap the liquidity layer of the entire internet, not just of DeFi.

High-Level Implementation Steps

Unichain Outbound

1. Conduct a Structured Gap Analysis - Collaborate with the Uniswap Foundation to identify high-impact areas such as DeFi products, assets, and markets that are critical for ecosystem growth.
2. Run Outbound BD to Builders and Protocols - Reach out to high-impact DeFi protocols, potential v4 hook developers, and asset issuers to fill those high-impact areas.
3. Create and Expand Markets - Collaborate with the Uniswap Foundation and protocols to design and add crucial DeFi markets that retain TVL and encourage long-term user activity. Examples include adding lending markets, structured yield products, and composable hook strategies.
4. Expand UNI Utility Across Integrations - Identify opportunities to embed UNI into new and existing protocols. We will bring the DAO formal proposals when needed.
5. Co-Marketing Support - Provide targeted co-marketing support to drive visibility and traction for new ecosystem launches.
6. Track and Report Growth Impact - Monitor ecosystem growth across gap fulfillment and impact. Share results in quarterly governance updates and through public dashboards.

V4 Builder Outbound

1. Identify High-Impact Opportunities - Analyze emerging hook strategies and identify underexplored primitives or liquidity designs that can uniquely be enabled through Uniswap V4 hooks.
2. Target and Qualify Teams - Run outbound to a curated list of experienced DeFi teams and protocols with the technical ability and track record to ship V4 integrations.
3. Facilitate Integration Pathways - Connect selected teams with V4 resources, such as the Atrium Academy, V4 resources, and the Uniswap Foundation when necessary.
4. Co-marketing - We will pass the baton to our marketing team to develop and implement co-marketing strategies for new deployments. This will include joint promotional efforts with partners to maximize awareness and adoption of each deployment within the new ecosystem.

Embedded DeFi

1. Identify and Prioritize Integration Targets - Source high-traffic Web2 and hybrid platforms that align with Uniswap’s infrastructure and audience goals. Prioritize based on distribution potential, user alignment, and technical feasibility.
2. Scope Integration Models - Explore integration pathways with BD/product teams, including SDKs, in-app modules, and white-labeled frontends. Work with DAO contributors or potential partners on technical feasibility.
3. Launch and Support Initial Pilots - Secure buy-in and launch integrations with one to two selected platforms. Collaborate on co-branded GTM efforts to drive adoption.
4. Track and Report Usage - Monitor traction, gather usage insights, and include findings in quarterly updates to the DAO. Use results to inform potential expansion and repeatable models.

Milestones & Metrics

Area	Scope	KPI/Milestone	Details
Unichain Outbound	New	Unichain protocol integrations through outbound business development efforts	Publish a structured gap analysis (Protocols, Assets, Markets). Source 6 new DeFi protocols (e.g. CDPs, perpetual, insurance, structured products, etc).
V4 Builder Outbound	New	V4 use cases sourced through outbound business development efforts	Source 9 unique V4 hook integrations with experienced builders and existing protocols.
Embedded DeFi	New	Strategic integrations launched	Pilot 4 embedded DeFi initiatives by integrating Uniswap functionality into new distribution channels (e.g., high-traffic websites, apps).
Incentive Sourcing	Continued	External incentives secured	Secure at least $5M in ecosystem grants through coordination with UEII. These incentives are expected to unlock $50M+ in TVL across supported deployments and Uniswap integrations.
Deployments	Continued	New Uniswap deployments supported with business development outbound	Source and support 6 new V3/V4 Uniswap deployments, with at least 3 of these deployments targeted to become the top DEX by volume or liquidity on their respective chains.
Ecosystem Marketing	Expanding	Social media impressions	Maintain an average of 6 million monthly impressions through marketing campaigns, partner amplification, Layer3 Quest campaigns, Ungovernable series, targeted blockchain ads, press releases, and ecosystem launch amplifications.
Ecosystem Growth Support	Expanding	Direct growth support is provided to ecosystem teams, as well as establishing an Ecosystem Project Hub	Continue to support Ecosystem projects with growth and co-marketing. Launch an Ecosystem Project Hub on YouTube with at least 20 ecosystem project demos.

To measure the success of the Growth Program renewal, we propose the following goals for the next phase. These targets are ambitious yet achievable with a concerted effort, and they provide clear benchmarks for the DAO to evaluate the program’s impact:

• V4 Builder Outbound – We propose supporting Unichain Outbound by identifying and filling key ecosystem gaps across Unichain. This includes publishing a structured gap analysis, running outbound to high-impact protocols, and supporting teams in creating new DeFi markets and co-marketing. Our goal is to fill the gap analysis at the protocol level and source at least six new protocols on Unichain.
• V4 Builder Outbound – Execute outbound business development to source nine new Uniswap V4 hook integrations with experienced builders and existing protocols.
• Embedded DeFi – Given the long sales cycles involved in enterprise and hybrid integrations, we aim to pilot four embedded DeFi initiatives with external platforms. These pilots will explore how Uniswap can reach users through new distribution channels, including high-traffic websites, browsers, and fintech apps. The goal is to integrate Uniswap’s infrastructure where users already are, expanding beyond the crypto-native audience and driving long-term protocol adoption.
• Incentives – In coordination with UEII, the Growth Program will support business development efforts to secure at least $5M in ecosystem grants. These incentives are expected to drive over $50M in sticky TVL across supported networks and Uniswap deployments.
• Deployments – We will continue collaborating with Oku/Protofire to source six new Uniswap deployments, including first-time rollouts on emerging networks. We also expect to support early V4 implementations, with a few already in the pipeline.
• Ecosystem Marketing – Our goal is to maintain an average of 6 million impressions per month for the duration of the year. After hitting 4 million in March, we believe sustained growth in reach will significantly amplify ecosystem narratives and support ecosystem project launches across V4, Unichain, and new deployments of Uniswap.
• Ecosystem Growth Support - We will continue supporting v4 and Unichain ecosystem teams with go-to-market strategy, co-marketing, and growth support. As part of this, we will launch an Ecosystem Project Hub on YouTube featuring at least 20 project demos to showcase integrations and support adoption.

Renewal Period

We are proposing a 1-year renewal to give the Growth Program the time needed to execute, scale partnerships, and deliver measurable ecosystem impact.

Budget Request

Funds will be sent to the Uniswap Accountability Committee, which will hold custody and disburse them to AlphaGrowth. We propose receiving 25% of the total program budget upfront to ensure operational continuity, with the remaining funds distributed evenly over the following three quarters. With a total program budget of $1,148,000, this structure would provide an initial $287,000 disbursement in UNI, followed by three quarterly payments of $287,000. This approach balances execution runway with DAO oversight, enabling strategic planning while maintaining clear accountability checkpoints.

Accountability & Transparency

To ensure clear oversight and community alignment, the Growth Program will publish quarterly updates in the Uniswap governance forum, detailing progress across deployments, incentives, marketing, and strategic initiatives. In addition, we will continue to update our Dune Dashboard to highlight incentives and impact.

What’s next?

We believe these growth tracks reflect where Uniswap needs to go next, and how the DAO can play a key role in getting Uniswap there. In the coming days, we’ll incorporate community feedback, finalize proposal details, and move toward a Snapshot vote.

We’re excited to continue driving growth for the Uniswap ecosystem and look forward to your feedback and support.

[blockchainedu]

As a long-standing active Uniswap delegate and industry veteran in growing crypto ecosystems, we are grateful to have helped review and add to this proposal and strongly recommend the renewal of the Uniswap Growth Program.

Uniswap is becoming the liquidity infrastructure of the internet itself. This transformation demands a growth strategy that is as ambitious and multi-dimensional as the vision it serves.

In our podcast episode with Uniswap Growth, we talk about how difficult it is for an ecosystem to grow without an ecosystem team. External parties always want someone they can go to with questions and help, they’re not gonna spend that much time looking through forums to figure out how it all works. Someone needs to be out there securing deals, onboarding, and aligning projects to work together.

The trial phase of the Growth Program proved that such a strategic, coordinated, and data-driven growth engine can achieve outsized impact:

• $10M+ in incremental TVL,
• 4M+ monthly impressions,
• and strategic integrations that expand Uniswap’s reach

We believe in AlphaGrowth’s ability to execute on ecosystem activation, market creation, and user stickiness. All are elements essential for long-term dominance in an increasingly competitive landscape.

The three high-leverage tracks of Embedded DeFi, Ecosystem Fund Research, and DeFi Operations are all designed to magnify Uniswap’s gravitational pull in the market.

We are particularly excited by the Ecosystem Fund Research initiative. Our own mission has always been to empower the next generation of builders, and we see this research towards a potential fund as a critical lever for identifying, nurturing, and aligning the most promising projects with the strategic growth of Uniswap itself.

We’re committed to continuing our contribution and offering our resources to Uniswap and projects building on Uniswap, and we urge the rest of the community to join in providing feedback and suggestions, as well as indicating any interest for active involvement.

[blockchaincolumbia]

It is great to see the growth on Uniswap. Really looking forward to seeing this initiative come to fruition!

[wwpk]

Austin and the rest of the Uniswap Growth team have been doing an amazing job. Coming from the growth side at Semantic Layer, I talk with dozens of marketing, podcast type groups every week, and very few match the quality, technical understanding, reach, and professionalism of the Uniswap Growth Program, and specifically the Ungovernable Pod.

The Ungovernable podcast streams are really high quality, amazing guests. As a listener, I feel like i’m getting real information and hosts aren’t afraid to ask the tough questions we actually care about hearing the answers to. And from the other side, as guests, the interviews are so smooth and professional, and really amplify our ability to reach a wider audience as someone working on grassroots growth without a major budget.

10/10, keep the program going!

[Dex-C]

I actually met with Joe before the Uniswap Growth Program initiative, all the way back to 2023. I think the Uniswap Growth Program has provided Uniswap ecosystem builders an “anchor point” in terms of marketing/go-to-market. When developers build in an ecosystem, it’s good to receive some structured support in promotion and cold start, which I think Uniswap Growth Program has excelled that. Really appreciate Austin and Joe for initiating this program.

Another thing to add is Uniswap Growth Program has provided us help more than just podcast/interview. I had the opportunity to chat with Austin and Joe many times, on-chain and off-chain on GTM strategy. It’s always great to tap into their experience from Alpha Growth. Would love to see the Uniswap Growth Program in the coming years, and I think other developers would appreciate a structured support program like this.

[Doo_StableLab]

We would be strongly voting against this if it proceeds as such. There are several reasons including this is now becoming a very expensive recurring expense from Uniswap DAO. In addition, via Uniswap Ecosystem Fund Research, AG creating another group undermining discussions that Uniswap Treasury Working Group, which was selected by Uniswap DAO, had is concerning.

Also ideally, budgets should be based on completion and hitting KPIs rather than fixed amount.

[Dakotah]

While I recognize the potential of the Uniswap Growth Program Renewal and have previously supported AlphaGrowth’s initiatives, the proposed $1.1 million budget does raise concerns.​ Is there info on how large the team is that’s working on this full time? Are comarketing/ecosystem marketing costs mainly production costs? Is there actual ad spend?

The “DeFi Operations” category stands out as a significant value driver, addressing a gap in the ecosystem by facilitating integrations like Uniswap LP tokens as collateral on platforms such as Compound and initiating pilot programs with projects like Nerite.​ While Bunni has not been able to make much progress with AlphaGrowth aside from introductions and retweets AlphaGrowth has always been timely with their responses and don’t feel “difficult” to reach which I couldn’t say for all parties inside of the Uniswap eco.

The “Uniswap Ecosystem Fund Research”, however, appears to overlap with the existing efforts of the Uniswap Treasury Working Group (UTWG) based on @Doo_StableLab’s comment. I would like to see us avoid redundancy and ensure efficient use of resources, it might be prudent to reassess or streamline this component if there is in fact overlap.

The “Embedded DeFi” initiative, aiming to integrate Uniswap into mainstream platforms like browsers and fintech apps, is ambitious but seems speculative at this stage. Given its uncertain outcomes or even potential added costs, I would like to understand what percent of the funding AG plans to allocate to these efforts and what ideal end results would look like.​

AG has demonstrated it will add value, and I have personally seen good things related to DeFi Operations. I hope to see these small things ironed out.

[alphagrowth]

Thank you @blockchainedu @blockchaincolumbia @wwpk @Dex-C @Doo_StableLab for the thoughtful and feedback on the Growth Program Renewal proposal.

@Doo_StableLab, to address your points directly:

Cost Concern:
The proposed renewal budget is ~$95K/month, up from ~$70K/month during the trial. The increase reflects expanded areas such as Embedded DeFi, Ecosystem Fund Research, and DeFi Operations, while continuing to support deployments, incentive sourcing, and ecosystem marketing. The incremental budget is designed to scale impact in new areas and the areas where the DAO has already seen results.

On the Ecosystem Fund Research track:
Totally understand the concern here, but to reemphasize, this is a strictly exploratory initiative that has not yet been addressed. The Uniswap Foundation highlighted this avenue as a valuable base that was not yet being covered. We are happy to deemphasize this piece until DUNA formation, fee switch, etc, but we wanted to make sure to include this in the greater growth strategy that returns the highest value to the DAO.

On KPI-based disbursements:
We proposed a 25% upfront disbursement, with the remainder split across three quarters and disbursed by the UAC. The goal here is to provide enough runway to execute while keeping clear oversight from the UAC. That said, we are open to refining the KPIs and milestones outlined above to ensure they clearly demonstrate value and impact for the DAO.

If you’d like to, we’re more than happy to set up a call to dive in further as we want to make sure this proposal reflects what’s best for the DAO and its long-term goals!

[kpk]

Thanks for putting this proposal together — we really appreciate the thought and energy behind it.

Overall, we support AlphaGrowth’s work on the Growth Program Trial. However, this new proposal significantly broadens the scope compared to what was tested during the trial. In particular, we have concerns regarding the proposed ecosystem fund.

At this stage, it feels too early for Uniswap to allocate capital toward an ecosystem fund, especially one focused on acquisitions or strategic investments. Successful M&A activity in crypto has been extremely rare; even well-resourced ecosystems like Arbitrum have struggled to make acquisitions work meaningfully. It’s challenging to see Uniswap as an exception without a fundamentally different structure or approach.
Moreover, the potential targets mentioned seem to be at a very early stage (pre-seed). These would represent highly risky investments under any circumstances — arguably more speculative than strategic.

Finally, even if Uniswap were to pursue this direction in the future, an ecosystem fund should be developed as part of a broader, clearly defined global treasury strategy, not as a standalone initiative. We would strongly recommend first establishing an Investment Policy Statement (IPS) and a cohesive treasury framework, within which an ecosystem fund could be considered as one potential strategy, rather than the primary or sole focus.

We find the other aspects of this proposal interesting, especially “Embedded DeFi” and are supportive of those.

[alphagrowth]

Appreciate your thoughtful feedback @Dakotah, and glad to hear that DeFi Operations resonates. I wanted to touch on a few points you mentioned:

Team and Budget:
AlphaGrowth has a full-time team of 25 professionals with backgrounds across data analytics, private capital markets, business development, computer science, growth marketing, and operations. This proposal modeled after the trial phase and similar programs we have led in other ecosystems. Our approach is outcome-driven, and we scale time and resources as needed to deliver results. We are fully committed to driving measurable impact throughout the renewal period.

The proposed budget reflects projected costs across operations, business development, and marketing efforts. The marketing scope includes a mix of ad spend, video editing, podcast production, livestreams, design assets, quest campaigns, reporting, salaries, etc to support Uniswap ecosystem marketing initiatives.

Embedded DeFi:
Given the lack of current Uniswap embedded DeFi integrations, our goal is to launch 4 targeted pilots, benchmark traction, and use those insights to shape a broader, scalable growth strategy with data driven impact for the future.

[alphagrowth]

@kpk we really appreciate the support and the constructive points you raised.

This track was originally highlighted by the Uniswap Foundation as a valuable area that had not yet been covered. However, after careful consideration and conversations with different members of the Uniswap community, we have dropped the Ecosystem Fund Research component from this RFC.

We agree that any exploration of an ecosystem fund should come after the development of a broader treasury strategy and be part of a larger, coordinated initiative. We would be excited to revisit this when the time is right.

In the meantime, we are excited to focus on the other tracks, especially Embedded DeFi, and to continue building momentum from the Growth Program Trial. Thanks again for your support.

[beccaliao]

Adding to what we already noted in the original post, few people realize how big the AlphaGrowth team actually is. The reason they are able to provide such full coverage for growth hacking is that they have both depth and breadth in their talent bench. It’s been an absolute pleasure working with them, and we can’t wait for even more to roll out.

[larrettgee]

Glee here from Unimon.app - wanted to drop a note sharing my appreciation & support for the Uniswap Growth Program.

They helped us grow our little idea of a game inside of a hook into a top v4 hook on Unichain. From marketing support, ideation help, and distribution guidance, we owe a lot to the program.

I’d love to see this continue, so more projects can receive the much needed assistance this program provides!

[pat.g]

Pat from Galxe here. I want to share my strong support for renewing the Uniswap Growth Program and having AlphaGrowth continue leading it. Austin and the AlphaGrowth are a well-organized, high-execution and overall top-notch crew.

Their work has helped secure key incentives, build important partnerships, and provide solid support to builders. They’ve done a great job laying the groundwork for Uniswap to keep growing and strengthening its position in the space.

I’m sure that having AlphaGrowth involved moving forward will be a real win for the Uniswap ecosystem, and I encourage everyone to back this renewal.

[404DAO]

We appreciate the work AlphaGrowth has put into building outbound business development for the Uniswap ecosystem and recognize the strategic direction of this initiative. We support several elements of the proposal— particularly the effort to meet users where they are by embedding DeFi into Web2 sites and expanding distribution to Youtube to spotlight ecosystem projects. Additionally, the early buildout of public-facing marketing infrastructure, including the @UniswapGrowth page on X, shows promising traction. We view the move toward more structured, DAO-enabled marketing as a meaningful step forward.

However, based on trial results and the current renewal structure, we cannot support this proposal without material revisions. Below, we outline the specific areas where performance fell short of expectations and where scope, cost, and clarity must be tightened for this program to earn renewed support.

Growth KPIs Are Unrealistic Based on Historical Evidence

While ~$5M in external incentives were secured, only ~$950k had been deployed during the trial, and early retention results are troubling. The available Dune dashboards provided by AlphaGrowth show:

• Saga: No meaningful retained TVL as reported in Dune. DefiLlama shows some activity, but there is a data discrepancy that needs clarification.
• zkSync: TVL has declined below pre-incentive levels.
• Optimism: Some growth beyond pre-incentive levels, suggesting partial stickiness.

Given these outcomes, projecting $40M–50M in sticky TVL from $4–5M in new incentives appears unrealistic without stronger historical validation. We recommend that the provided incentive dashboards include greater detail, such as campaign start/end dates, incentivized pool details, and liquidity retention figures over time to allow delegates to properly evaluate program impact.

Marketing Metrics Look Good on Paper but Lack Conversion Focus

The Uniswap Growth Q1 Social Report highlights a nearly 10× jump in impressions from 450K in February to 4M in March. However, engagement metrics remained flat, and the account currently sits at around 2,500 followers. We would appreciate an explanation from the AlphaGrowth team regarding these metrics and how they interpret this data. As it stands, the exponential growth in impressions without a corresponding rise in engagement suggests impressions may not be a meaningful KPI for program success.

While we appreciate the buildout of @UniswapGrowth from 0→1 and believe the Ungovernable podcast and other media efforts have significant value, it is important that reporting evolves to focus on deeper and more meaningful performance metrics.

Additionally, while broader distribution is important, the program underemphasized crypto-native ecosystems like Farcaster, Lens, and other Web3-native communities. Expanding into these channels would meet users where they are and strengthen grassroots engagement.

Mandate Overlap and Accountability Structures Are Unclear

The renewal proposal risks significant overlap with efforts already underway by other DAO-funded initiatives, including UAC (incentive deployment and dashboards), Oku (deployments), UTWG (growth fund research), and Uniswap Foundation (deployment and ecosystem support). There is also continued confusion around the UEII workstream, with unclear delineations between AlphaGrowth and other contributors.

Without clearer roles and responsibilities, it becomes difficult for delegates to evaluate program success or failure, and risks emerge around duplicate spending and mandate creep. More defined scope boundaries and accountability structures are needed to ensure proper oversight of all DAO-funded initiatives.

Final Position

We support the direction of the Uniswap Growth Program and believe outbound BD and embedded DeFi distribution into Web2 sites are critical next steps for Uniswap’s expansion. However, we can only support renewal if material revisions are made to scope, cost, accountability, and performance metrics. Absent these changes, we will not be able to support the proposal and would encourage AlphaGrowth to return with a tighter, more measurable renewal request.

[ilo_0x]

With Uniswap DEX at the core of our liquidity manager, we’ve been delighted to work with Uniswap Growth. They support us with outreach and intros, connecting us to the fabric of v4 Hooks builders, as well as with providing tangible steps to apply for Uniswap funding.

The Uniswap ecosystem is big, and Uniswap DAO reflects that. It isn’t always easy for protocols/builders with limited means to understand the full ins and outs of what is possible within this ecosystem. Having a party guide us through the maze is of immense value.

Clarity is key in attracting builders who grow the Uniswap ecosystem, and that’s where Uniswap Growth really outshines any other ecosystem support systems we’ve encountered over the years. They have a senior team, are always responsive, and bring real value to the table. Rock-solid AAA+ service!

Ilo
Marketing Lead at Arcadia

[plabrecque]

The Uniswap growth team has been doing incredible work supporting projects like ours! I lead BD and marketing at Tenor and I’m really grateful for all their help. Working with Austin has been fantastic — he’s resourceful, and always takes the time to understand our needs and challenges. Would love to see the program continue!

[Boardroom]

The trial delivered some notable outputs (e.g. securing ~$4.8M in external incentives and deploying ~$950k of it to boost Uniswap TVL by $10M+). That said, we share some most of the reservations that others had in this thread with respect to renewing the program in its current form.

On the topic of budget and ROI, the $1.148M budget (~$95k/month) is a substantial recurring expense, about a 36% increase in monthly burn rate from the trial’s ~$70k/month. This escalation demands stronger justification via clear (and attainable) KPIs. To date, the incremental $10M TVL increase from the trial represents just ~0.3% of Uniswap’s ~$3.8B total TVL. We’re also wary of scope creep and potential overlap with existing initiatives and we’re glad that Alphagrowth dropped the “Ecosystem Fund” component. We share @Doo_StableLab’s sentiment that funding should be tied to hitting KPIs rather than disbursing 25% per quarter unconditionally. We’d be in favor of something like 25% upfront + the remaining 75% disbursed based on delivering milestones.

We’re generally supportive of the program’s directions here. We just think that programs with extraordinary budgets deserve extraordinary scrutiny. We’d like to hear a response to @404DAO’s note on the prop’s growth KPIs being unrealistic and marketing metrics before we make any final determinations.

[alphagrowth]

Thank you @beccaliao @larrettgee @pat.g @ilo_0x @plabrecque for your thoughtful comments and support. We’re look forward to continuing to collaborate with you all.

@404DAO, thank you for the constructive feedback and for highlighting important areas to improve. We wanted to address your points directly:

Incentive Performance and TVL Retention

Saga: As of this writing, Saga has approximately $7.4M in TVL across its incentivized pools. We are continuing to work with their team to improve distribution performance by exploring structured product strategies and connecting them with distribution partners to help amplify impact of incentives. The Saga Dune dashboard is updated monthly to align with their incentive release schedule, though deeper coverage remains limited due to the lack of a Saga Dune integration. We are actively developing a repeatable process to report pool-level incentive impact across all supported deployments, similar to what has been done with Optimism and zkSync.

zkSync: We view zkSync as a unique case. First and foremost, we had no authority on how the incentives were deployed as this was all done their their internal team. Unlike other upcoming incentives (e.g. BOB, where 85% of incentives were allocated to non-native pairs), we weren’t to collaborate with zkSync on pool selection or incentive design. Under the ZK Ignite structure, 61% of incentives were directed to native pools. Many of these pools have since seen liquidity fall significantly with the ZK token price down over 75% since the launch of these incentives. Wherever possible, we aim to work directly with ecosystem teams to design more coordinated campaigns that align with broader growth goals.

We are happy to work toward including more detailed incentive reporting as suggested, such as highlighting campaign timelines, pool-specific allocations table, and retention tracking over time. We agree that these additions will help delegates evaluate program impact more effectively.

Marketing Metrics and Growth Reporting

While impressions are one signal, we agree they are not enough in isolation. We have seen steady growth in engagement, with interactions on the GrowUniswap account increasing from 1.4k in January to around 8k in March. We are still experimenting and refining what works. Long-form content like the Ungovernable series and articles have performed well, while short-form clips have been less impactful. These insights are helping us evolve toward a more focused and performance-driven content strategy. We will meet with you guys async to iron out the performance based metrics to sharpen the efficacy of this program.

The RFC has also been updated to include deeper engagement with crypto-native platforms, which we agree are important for extended reach for onchain audiences.

Roles and Responsibilities

We have updated the RFC to provide clearer definition of AlphaGrowth’s scope, with a focus on outbound business development and marketing operations. The included areas were to maintain transparency on what we currently support and where we propose expanding.

We appreciate the feedback and the opportunity to strengthen this proposal. We are always open to continued discussion and iteration.

[Avantgarde]

We appreciate the AlphaGrowth team for putting forward this detailed proposal and building on the momentum of the Growth Program trial. It’s clear the program has already delivered valuable outcomes in securing incentives and expanding Uniswap’s reach.

The proposed expansion into key areas like V4/Unichain outbound and, particularly, Embedded DeFi, is exciting and feels like a valuable next step for Uniswap’s evolution beyond a traditional DEX. Having seen the team’s dedication and execution firsthand, both during the trial and in other DAOs, we all in all have confidence in AG’s ability to deliver on the mandate wherever the final details may land.

Having followed the feedback in the thread, we appreciate the team’s responsiveness to the community’s points, and agree that dropping the Ecosystem Fund makes sense even though While we remain supportive of AlphaGrowth and your work, we do agree with valid points raised by other delegates regarding potential overlaps with existing DAO workstreams. Further, given the stated “outcome-driven” approach, we think it would be appropriate to explicitly tie (at least part of) subsequent funding to the achievement of clear, pre-defined KPIs to ensure strong accountability and impact for the DAO’s resources, especially with the higher cost.

Overall, we see value in this proposal and believe a dedicated, experienced team focusing on these critical growth vectors is essential for Uniswap to capture new markets and support its ecosystem—as long as it complements other initiatives and delivers the value it proposes.

Sharing a few follow-up questions for further clarification:

1. Could you provide a more detailed high-level breakdown of how the requested $1.148M budget would be allocated across the different proposed tracks (Unichain Outbound, V4 Builder Outbound, Embedded DeFi, etc.) over the 12-month period?
2. Given the ambition across the three main expansion tracks and the commitment to supporting existing areas, how will priorities be set and managed over the year? Could we see a potential timeline or roadmap indicating the expected focus areas and key milestones per quarter?
3. Building on the feedback regarding metrics and accountability, and the suggestion for KPI-based funding, could you elaborate on the specific refined KPIs being considered? Particularly, how will success in areas like “sticky TVL” from incentives, marketing effectiveness beyond impressions, and tangible progress in landing “Embedded DeFi” pilots be measured, verified, and linked to future funding tranches? Also, how will coordination with related DAO workstreams (like UEII, Oku, UAC) be formalised to ensure synergy and clear accountability across these interconnected growth efforts?

Thank you again to the team for this important proposal. Looking forward to the discussion and seeing a final version of this proposal!