The Uniswap Foundation said its current funding is expected to support operations into early 2027, outlining a treasury position of roughly $85.8 million at the end of last year.

In an unaudited financial summary published to its governance forum, the group reported holding $49.9 million in cash and stablecoins alongside 15.1 million UNI (UNI) tokens and 240 ether (ETH) as of Dec. 31, 2025.

The foundation, which supports the development and growth of the Uniswap protocol, has set aside the bulk of its capital for ecosystem expansion.

Around $106.2 million is allocated to grants and incentives, while a further $26.3 million is earmarked for operating costs and employee token awards, according to the disclosure.

This spending plan underpins a projected runway through January 2027, though the foundation noted this could be updated following governance changes tied to its recently approved “UNIfication” proposal.

Uniswap’s 2025

Uniswap is one of the biggest decentralized exchanges, where users can trade crypto assets directly onchain without intermediaries.

The DEX has consistently ranked among the top DeFi protocols by fee generation, competing closely with lending platform Aave in monthly revenue, according to The Block’s data dashboard.

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Uniswap’s ecosystem expanded in 2025, with key infrastructure plays like the launch of Uniswap v4, the Unichain mainnet rollout, and the UNIfication fee switch. Operating expenses for the year totaled $9.7 million, excluding token-based compensation, while the foundation also recorded $1.7 million in interest income on fiat holdings.

In other related developments, Uniswap proposed activating protocol fees across v3 pools and expanding deployments across additional chains.

Institutional attention has also entered the mix. BlackRock and Securitize recently tapped Uniswap for direct onchain trading for the former’s BUIDL tokenized fund.