The Uniswap Foundation held $85.8 million in total assets at the end of 2025, comprising $49.9 million in cash and stablecoins, 15.1 million UNI tokens, and 240 ETH. During the year, it committed $26 million in new grants and disbursed $11 million against prior commitments. Operating expenses totaled $9.7 million, excluding 450,000 UNI in employee token awards.
The foundation received 20.3 million UNI tokens - valued at approximately $114 million at year-end - from the Uniswap Treasury via the Uniswap Unleashed governance proposal. It also earned $1.7 million in interest on fiat holdings.
These figures reflect the foundation’s position before the December 26 approval of the UNIfication proposal, which restructured its relationship with the Uniswap ecosystem and created a new legal entity, DUNI.
Projected runway extended through January 2027, though this timeline will be updated in Q1 2026 to reflect post-UNIfication changes.
The report coincides with major protocol advancements, including the launch of Uniswap v4 - introducing programmable liquidity hooks - and Unichain, a dedicated high-performance DeFi chain. Over 1,500 developers onboarded to v4 in 2025.