Uniswap-Arbitrum Grant Program (UAGP) - May/June Reporting

We’re back and excited to share more Uniswap-Arbitrum Grant Program (UAGP) updates for May and June.

As June came to a close, it was clear that the UAGP and our grantees were well within the flow of operations, as tracking and reporting came together very efficiently and many milestones were achieved. Excitingly, this past period saw the completion of three grants, whose teams completed their full grant deliverables over the course of the May/June reporting period.

We should note that this reporting represents the final full program update before the completion of the UAGP’s term, after which, operations will continue in a purely tracking/reporting capacity with support for grantees. Accordingly, we are currently in the process of creating a UAGP Review report which will encompass our experience operating the UAGP and funding dozens of exciting projects building for a stronger Arbitrum x Uniswap. If you have any feedback on the program or any insights/anecdotes you wish to share with the UAGP for consideration in our review report, please don’t hesitate to reach out.

Importantly, our applications still remain open so if you’re interested find the link to apply here. Note: this link has changed since our last update to align with Gitcoin’s upgrade to Allo v2 across their Grants Stack.

:camera_flash: Program Snapshot

:bookmark_tabs: Applications

This past reporting period has seen application totals taper off following a continuously growing amount month-over-month leading up to May. As of the time of writing, the program has received 140+ applications from a widely diverse group of projects. The following describes the breakdown of application focus by each RFP category. It should be noted that for the second consecutive reporting period, the UAGP have received 0 applications under RFP 2: Arbitrum Testnet with EIP-1153 Enabled.

:moneybag: Financial

Reporting date: July 2nd, 2024

Treasury Overview :moneybag:

Current Treasury (USDC)* Current Treasury (ARB)
1,046,050 162,963

*The UAGP holds the project treasury in USDC stablecoin converted at a rate of $2/ARB to operationally hedge currency risk for projects of ARB token.

Grants Overview :handshake:

Grants Promised for Payout (USD) % of Project Treasury Promised (USD) Grants Already Paid Out (USD) % of Treasury Transferred (USD)
1,048,000 72% 452,670 28%

:gear: Project Outcomes

This reporting period saw five different UAGP grant projects reach milestones, for a total of six milestones. As many of the end-stage milestones begin to come in for projects, we are seeing the full completion of more UAGP grants. This period two grants - Demeter and Concero - completed their final deliverables, which brings the UAGP total to four completed grants.

Milestone Achievements Snapshot :white_check_mark:

Project Milestone Description
Slash Protocol Milestones 2: Arbitrum Volume
Concero Milestone 2: Audit
Ephema Milestone 3: Gas Price Discovery
Demeter Milestone I: Integrations
Demeter Milestone II: Publications
Valence (fka Vanna) Milestone VI: Marketing (50%)
Total 6 Milestones

Finally, one of our accepted grantees, Rabbithole, has made the internal decision to pivot away from focusing on all action types to just narrowing down on Mint action type and serving creators for now. As such, the last funded milestones (I & II) have been returned to the UAGP treasury and the grant will henceforth be completed.

While applications have slowed, we’re reaching a critical juncture for the completion and final stage deliverables of grants of already accepted UAGP applicants. We remain excited to track the progress of our grantees as they push toward launching, publishing, and more.

To track the individual project reporting highlights for this period, as well as review their responses to our key metric impact questions, please see our May/June reporting in Notion here.

Contact points

:white_circle: To find all info: UAGP Information Hub

:white_circle: To reach out: Discord

:white_circle: To stay up to date: Twitter