With the recently approved Uniswap Growth Program Trial, the UEII was set up to apply for different incentives and grants across the different chains Uniswap is deployed on. Collectively, we will use this thread as a communication thread to the community on updates for this initiative.
In Season 6 of the Optimism Governance Cycle, we applied and recently received 2 grants to incentivize YBAs and LRTs on Optimism. Over the next few months, we will work with different partners to allocate these incentives with the overarching goal of increasing TVL. More updates to come as incentives start!
Incentives will start in the next few weeks and continue for an estimated ~6 months.
Uniswap has been accepted into the first season of zkSync’s Ignite program, an initiative that will allocate 100M ZK token across various DeFi protocols. There will be a total of 3 seasons, and each will have the same number of tokens up for grabs. Season 1 ends on March 31st.
The program operates on a bi-weekly cycle, where OpenBlock Labs, serving as the analytics manager, reviews protocols’ performance and recommends token allocations based on those data. These recommendations are subject to review by a five-member DeFi Steering Committee (DSC), which holds veto power over key decisions to ensure the program’s strategic alignment. We are communicating with their team to ensure this process is facilitated smoothly.
Example metrics for further incentivization include (subject to change over time):
Correspondingly, each cycle may have different allocation sizes and pools.
A total of 15 protocols received allocations for this cycle. Below are the selected pools for the next two weeks. You may view Uniswap’s Ignite dashboard here.
| Description | Address | ZK Allocation |
|---|---|---|
| USDC/USDC.e v3 0.01% | 0x23c77a553aac0ad009441c856c05d117c1131e3d | 23,010.45 |
| USDC/ETH v3 0.3% | 0xeecb86c38c4667b46487255f41c6904df3d76f8f | 11,868.77 |
| USDC.e/ZK v3 0.3% | 0xa0769a3c6af68812bb3a5cbd511f7879033440eb | 87,111.54 |
| ZK/ETH v3 0.3% | 0x3d7264539e6e3f596bb485e3091f3ae02ad01ef8 | 176,255.94 |
As Uniswap is allocated more incentives, we will update this present thread. After two cycles, we plan on working with the UAC to see if it’s worthwhile to co-incentivize this program as it will increase APRs, leading to further matching by the Ignite team.
Below are the reward pools and distribution amounts for the biweekly period between Jan 20 - Feb 3:
| Description | Address | ZK Allocation |
|---|---|---|
| ZK/ETH v3 0.3% | 0x3d7264539e6e3f596bb485e3091f3ae02ad01ef8 | 201,545.92 |
| USDC.e/ZK v3 0.3% | 0xa0769a3c6af68812bb3a5cbd511f7879033440eb | 158,368.73 |
| USDC/USDC.e v3 0.01% | 0x23c77a553aac0ad009441c856c05d117c1131e3d | 100,595.00 |
| USDC/ETH v3 0.3% | 0xeecb86c38c4667b46487255f41c6904df3d76f8f | 28,614.76 |
The milestones for the Season 6 grants the DAO received earlier have been completed, and the second tranche has been allocated. With the remaining incentives, we plan to continue to incentivize the mandated YBAs and LRTs on Optimism including rETH, wstETH, sfrxETH, USDM, etc. These will be distributed through different partners including OKX and individual quests.
A further complete breakdown of incentivized pools and programs will also be updated in the coming weeks.
Below are the reward pools and distribution amounts for the coming biweekly period (starting Feb 3):
| Description | Address | ZK Allocation |
|---|---|---|
| USDC-USDC.e 0.01% | 0x23c77a553aac0ad009441c856c05d117c1131e3d | 120,714.00 |
| WETH-ZK 0.3% | 0x3d7264539e6e3f596bb485e3091f3ae02ad01ef8 | 181,391.33 |
| USDC.e-ZK 0.3% | 0xa0769a3c6af68812bb3a5cbd511f7879033440eb | 213,797.79 |
| USDC-WETH 0.3% | 0xeecb86c38c4667b46487255f41c6904df3d76f8f | 37,199.19 |
Below are the reward pools and distribution amounts for the current biweekly period (between Feb 17 - March 3):
| Description | Address | ZK Allocation |
|---|---|---|
| USDC-USDC.e 0.01% | 0x23c77a553aac0ad009441c856c05d117c1131e3d | 88,126.29 |
| WETH-ZK 0.3% | 0x3d7264539e6e3f596bb485e3091f3ae02ad01ef8 | 200,334.80 |
| USDC-WETH 0.3% | 0xeecb86c38c4667b46487255f41c6904df3d76f8f | 257,199.19 |
The primary adjustment for this round was the removal of the USDC.e-ZK 0.3% pool, however, the overall amount of $ZK allocated to this cycle is nearly the same as the last round.
One of the main goals for season 1 of the program is to reduce USDC–ETH slippage for a $1M trade, which is currently ~2.4% across all DEXs. Hence, the majority of the rewards this cycle are directed towards the Uniswap USDC-WETH 0.3% pool.
As far as impact of the incentives as of Feb 17, the results vary widely depending on the pool, with USDC-WETH 0.3% yielding the best results and the WETH-ZK 0.3% pools producing the worst results.
| Pool | TVL Change per $1 Incentives | Volume Change per $1 Incentives |
|---|---|---|
| USDC.e-ZK 0.3% | 7.49 | 1.7 |
| WETH-ZK 0.3% | 2.32 | -3.57 |
| USDC-WETH 0.3% | 124.53 | 26.05 |
| USDC.e-USDC 0.01% | 66.97 | 8.82 |
The native $ZK token pairs have not performed as well as USDC and ETH pools, which is indicative of Uniswap lagging behind some native DEXs with native token trading—but sustaining activity for non-native blue chip assets.
In Season 6 of the Optimism Governance Cycle, we successfully secured two grants aimed at incentivizing Yield Bearing Assets (YBAs) and Liquid Restaking Tokens (LRTs) on Optimism.
Approved Grants:
Impact to Date: To date, over 200,000 OP in rewards have been distributed, which have enhanced TVL and volume across targeted pools on Optimism. Detailed performance metrics and impact analysis are available on our Dune dashboard: Uniswap Pools Reporting Dashboard
The remaining rewards have been earmarked and will be allocated according to the established distribution schedule.
Below are the reward pools and distribution amounts for the current biweekly period (between March 3 - March 17):
| Pool Name | Address | Amount |
|---|---|---|
| USDC-USDC.e 0.01% | 0x23c77a553aac0ad009441c856c05d117c1131e3d | 79,313.66 |
| WETH-ZK 0.3% | 0x3d7264539e6e3f596bb485e3091f3ae02ad01ef8 | 235,808.73 |
| USDC-WETH 0.3% | 0xeecb86c38c4667b46487255f41c6904df3d76f8f | 148,796.75 |
Total program rewards during this cycle decreased from 12,368,759.81 to 5,446,958.45, while Uniswap ZK rewards decreased slightly from 545k to 463k. However, despite the reduction, Uniswap ZK now represents a larger share of the total rewards pool.
The Saga incentives program budgets 2 million SAGA tokens monthly across core liquidity pairs. Based on TVL thresholds, 673,255 SAGA will be distributed this Friday, approximately $155,589 at the current price of $0.2311. The remaining 1.32 million SAGA tokens (~$300,000) will remain undistributed this cycle due to unmet TVL targets.
As of this update, TVL across Saga’s Uniswap pools is $7.37 million, according to DeFiLlama.
| Pool | Budgeted SAGA | Distributed SAGA |
|---|---|---|
| SAGA/USDC | 1,400,000 | 400,114.67 |
| ETH/USDC | 350,000 | 191,625.05 |
| SAGA/ETH | 120,000 | 24,835.07 |
| USDC/USDT | 120,000 | 56,680.15 |
| SAGA/UNI | 10,000 | 0.00 |
| Total | 2,000,000 | 673,255 |
The Celo Stabila incentives program budgets $500k in $Celo tokens over 6 months, with monthly rebases, ramping up over time. During April, Celo finalized their Superchain L2 transformation and therefore initiated this incentives program.
| Pool | Distributed CELO |
|---|---|
| USDT/WETH | 20,370.37 |
| USDT/CELO | 9,259.26 |
| USDT/USDC | 23,148.15 |
| USDT/cUSD | 23,148.15 |
| USDT/cEUR | 20,833.33 |
| USDT/cREAL | 10,555.56 |
| USDT/cGHS | 5,555.56 |
| USDT/PUSO | 10,555.56 |
| USDT/cCOP | 10,555.56 |
| USDT/cKES | 10,555.56 |
| Total | 144,537.04 |
At a price of $0.30, a total of $43,361.11 was distributed this cycle.
The LightLink deployment became official mid-March. Since then, their team decide to gradually allocate capital, incentivizing the v3 deployment. LL has not requested any incentive matching from Uni DAO directly yet—instead, they are building a track record of commitment through KPI-based incentive campaigns on Metrom. Two tranches have so far been allocated:
From April 2 - 16, a total of 492,500 LL tokens were allocated.
Pool 1: USDT/USDC.e 0.01%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $48,000 | Minimum Payout | 15% |
| Upper Bound | $125,000 | Total Rewards | 246,250 LL ($3,124.47) |
The final distribution at the end of the campaign was 189.1k LL tokens, or 76.8% of the initial allotment distributed.
Pool 2: WETH/USDC.e 0.3%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $40,000 | Minimum Payout | 20% |
| Upper Bound | $80,000 | Total Rewards | 123,125 LL ($1,562.24) |
The final distribution at the end of the campaign was 81,409.9 LL tokens, or 66.2% of the initial allotment distributed.
Pool 3: WETH/LL.e 0.3%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $45,000 | Minimum Payout | 20% |
| Upper Bound | $80,000 | Total Rewards | 123,125 LL ($1,562.24) |
The final distribution at the end of the campaign was 76,335.4 LL tokens, or 62% of the initial allotment distributed.
From April 17 - May 8, a total of 1,773,000 LL tokens were allocated.
Pool 1: USDT/USDC.e 0.01%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $90,000 | Minimum Payout | 0% |
| Upper Bound | $500,000 | Total Rewards | 738,750 LL ($10,035.41) |
The final distribution at the end of the campaign was 604.6k LL tokens, or 81.8% of the initial allotment distributed.
Pool 2: WETH/USDC.e 0.3%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $63,000 | Minimum Payout | 0% |
| Upper Bound | $250,000 | Total Rewards | 541,750 LL ($7,359.3) |
The final distribution at the end of the campaign was 77,688.5 LL tokens, or 14.34% of the initial allotment distributed.
Pool 3: WETH/LL.e 0.3%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $62,000 | Minimum Payout | 0% |
| Upper Bound | $250,000 | Total Rewards | 492,500 LL ($6,690.27) |
The final distribution at the end of the campaign was 57,485.5 LL tokens, or 11.67% of the initial allotment distributed.
The Saga incentives program budgets ~2 million SAGA tokens monthly across core liquidity pairs. Based on TVL thresholds, 916,000 SAGA has been distributed for the month of April, approximately $345,278 at the current price of $0.3886. The remaining 1,0740,000 SAGA tokens (~$417,000) will remain undistributed this cycle due to unmet TVL targets.
As of this update, TVL across Saga’s Uniswap pools is roughly $12M million, according to DeFiLlama.
| Pool | Budgeted SAGA | Distributed SAGA |
|---|---|---|
| SAGA/USDC | 1,400,000 | 560,000 |
| ETH/USDC | 350,000 | 190,000 |
| SAGA/ETH | 120,000 | 46,000 |
| USDC/USDT | 120,000 | 120,000 |
| Total | 1,990,000 | 916,000 |
The Celo Stabila incentives program budgets $500k in $Celo tokens over 6 months, with monthly rebases, ramping up over time. During May, Celo ramped up incentives for their markets that started last month.
| Pool | Distributed CELO |
|---|---|
| USDT/WETH | 30,702.63 |
| USDT/CELO | 21,928.95 |
| USDT/USDC | 20,102.63 |
| USDT/cUSD | 20,102.63 |
| USDT/cEUR | 18,639.47 |
| USDT/cREAL | 9,428.95 |
| USDT/cGHS | 5,481.58 |
| USDT/PUSO | 9,428.95 |
| USDT/cCOP | 9,428.95 |
| USDT/cKES | 9,428.95 |
| Total | 154,673.68 |
At a price of $0.38, a total of $58,776.00 was distributed this cycle.
For the month of May, 1,990,000 $SAGA was distributed across four key pools through Merkl, representing 99.5% of the monthly 2M SAGA budget. At a 30-day average price of $0.30, approximately $597,000 was distributed this month.
Since the start of May, total TVL across Saga’s Uniswap pools has grown from $7.36M to approximately $13.5M (DeFiLlama), an 83% increase in TVL.
| Pool | Budgeted SAGA | Distributed SAGA |
|---|---|---|
| SAGA/USDC | 1,400,000 | 1,400,000 |
| ETH/USDC | 360,000 | 350,000 |
| SAGA/ETH | 120,000 | 120,000 |
| USDC/USDT | 120,000 | 120,000 |
| Total | 2,000,000 | 1,990,000 |
The Telos deployment became official in March. Since then, their team decide to gradually allocate capital, incentivizing the v3 deployment. Telos has not requested any incentive matching from Uni DAO directly yet—instead, they are building a track record of commitment through KPI-based incentive campaigns on Metrom. One tranche has been so far been allocated:
From April 14 - May 14, a total of $10,268 were distributed.
Pool 1: WTLOS/USDC.e 0.3%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $100,000 | Minimum Payout | 25% |
| Upper Bound | $250,000 | Total Rewards | 99k TELOS ($6,281.06) |
The final distribution at the end of the campaign was 24,750 tokens, or 25% of the initial allotment distributed. A notable observation was that even though the min payout was 25%, the fact that the pool was paired with a native token likely led it to not meet the lower bound TVL.
Pool 2: USDT/WTLOS 0.3%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $10,000 | Minimum Payout | 10% |
| Upper Bound | $100,000 | Total Rewards | 1,485 USDC |
The final distribution at the end of the campaign was 977 USDC tokens, or 65.79% of the initial allotment distributed.
Pool 3: WBTC/WTLOS 1%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $50,000 | Minimum Payout | 10% |
| Upper Bound | $175,000 | Total Rewards | 2,970 USDC |
The final distribution at the end of the campaign was 2110.66 USDC tokens, or 71% of the initial allotment distributed.
Pool 4: WETH/WTLOS 0.3%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | NA | Minimum Payout | NA |
| Upper Bound | NA | Total Rewards | 39,600 TELOS ($2,512.42) |
The final distribution at the end of the campaign was 100% due to no KPIs restrictions attached.
Pool 5: USDT/USDC.e 0.05%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $10,000 | Minimum Payout | 10% |
| Upper Bound | $300,000 | Total Rewards | 2,970 USDC |
The final distribution at the end of the campaign was 1201.8 USDC tokens, or 40.47% of the initial allotment distributed.
Pool 6: USDM/USDC.e 0.05%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $10,000 | Minimum Payout | 10% |
| Upper Bound | $250,000 | Total Rewards | 2,970 USDC |
The final distribution at the end of the campaign was 824 USDC tokens, or 27.74% of the initial allotment distributed.
Pool 7: STLOS/WTLOS 0.3%
| KPI Parameter | Value | KPI Parameter | Value |
|---|---|---|---|
| Lower Bound | $25,000 | Minimum Payout | 20% |
| Upper Bound | $150,000 | Total Rewards | 17,820 TELOS ($1,129.29) |
The final distribution at the end of the campaign was 16,917.78 TELOS tokens, or 94.94% of the initial allotment distributed. This had the highest distribution likely due to similar asset pairs. However, this was not the case with above stable/stable pairs.
