Blocksmith Awarded Uniswap Fee Switch Grant
2023 has got off to a flying start for Blocksmith, with the exciting news that the company has been announced as recipient of the Uniswap Fee Switch Grant. It’s a major achievement that will put Blocksmith firmly on the map in this rapidly evolving segment.
About Uniswap
Uniswap is a DeFi pioneer and is one of the leading crypto exchanges. It runs on the Ethereum blockchain and uses smart contracts to facilitate trades. Uniswap is currently the world’s largest DeFi platform in terms of transaction volume with crypto assets to the value of almost $4 billion locked away on its protocol.
The Uniswap Foundation was created by two former Uniswap Labs executives Devin Walsh and Ken Ng in August 2022 to support decentralized growth and strengthen the ecosystem through, among other things, awarding grants to “high-value contributors.”
Blocksmith’s grant
Blocksmith is one of 19 businesses recognized in the Uniswap Foundation’s second wave of grant disbursements in December 2022. One of five awards in the Governance category, Blocksmith was singled out for researching potential use cases for fees generated by the Uniswap Fee Switch.
In brief, this is a proposed switch whereby a small proportion of trading fees generated on Uniswap will remain “uncollected”. At present, all such fees are disbursed among liquidity providers. If the fee switch takes place, the uncollected funds will be set aside until best use is agreed by a vote.
Blocksmith has already conducted significant research in related fields, including the impact of price volatility on treasury. This made the studio a natural choice for this Uniswap Foundation grant.
Blocksmith’s Charles Forth says research is already underway as the team sets about interviewing a range of stakeholders to understand how each will be affected by the fee switch. He anticipates that the research will be completed by the end of February. He remarked that he takes huge pride in the fact that the research will help “kick start the ideas that will ultimately get voted on” when the final fee switch decision is made. It means Blocksmith’s research could prove pivotal in the way DeFi is shaped, help improve the protocol and cement Uniswap’s position as #1 name in DeFi
Wider exposure for Blocksmith
Charles added that being awarded a Uniswap grant will bring welcome exposure to the Blocksmith brand. Having been formed in 2018, the company is well-established among its peers and is a respected name within its specific niche as an expert in sustainable blockchain products and services.
The cachet associated with the Uniswap grant is not to be underestimated and Charles anticipates that it will place Blocksmith on the map as a go-to resource for founders looking for expert advice and research in similar fields.
Further information and resources
To learn more about the latest news and projects at Blocksmith, visit our home page. Full details of all 19 grants awarded in the Uniswap Foundation’s second wave in December 2022 can be found here.