New Uniswap Report Reveals $85.8M Treasury, Runway Through January 2027

Uniswap reports $85.8M treasury, grant funding, and a runway through January 2027 as ecosystem growth accelerates.

The Uniswap Foundation has released its unaudited fiscal 2025 financial summary, showing a treasury worth $85.8 million at year-end. 

According to the report, the current balance sheet supports operations through January 2027. The Foundation said it held $49.9 million in cash and stablecoins, alongside 15.1 million UNI and 240 ETH as of December 31, 2025. 

Additionally, the report noted that these figures reflect its position before the governance-approved UNIfication changes took effect.

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Uniswap Treasury Runway Extends Into 2027

The Foundation said the treasury allocation includes $106.2 million for grants and incentives. Out of that total, $87.5 million remains available for new commitments. 

Another $18.7 million stays reserved for grants already approved but not yet disbursed.

Meanwhile, $26.3 million has been earmarked for operating costs and employee token incentives. The Foundation explained that fiat reserves will cover active spending needs, while UNI holdings remain positioned for longer runway support.

According to Uniswap, the spending outlook will change in the Q1 2026 report following the UNIfication proposal’s approval and related structural updates. 

Consequently, the current January 2027 estimate could shift once the new framework is fully integrated.

Uniswap Grants and 2025 Ecosystem Expansion

Beyond treasury figures, the report outlined a major year for ecosystem growth. 

During 2025, Uniswap launched v4, introducing hooks and a more programmable liquidity architecture. This expanded the design space for developers building on-chain trading tools.

The Foundation also highlighted the launch of Unichain, a dedicated infrastructure layer built for high-performance DeFi applications. Moreover, the developer ecosystem kept expanding, with more than 1,500 builders onboarding to v4 and thousands of hooks initialized.

Governance also approved additional treasury support through the Uniswap Unleashed proposal, which strengthened the Foundation’s funding base. 

The report further cited the formation of the DUNI legal entity and the approval of the UNIfication proposal on December 26, 2025.

Q4 2025 Spending, Grants, and Revenue Breakdown

In the fourth quarter alone, the Foundation committed $5.8 million in new grants and disbursed $2.1 million from prior commitments. 

For the full fiscal year, it committed $26 million in fresh grants and distributed $11 million.

Operating costs in Q4 reached $3.2 million, excluding employee UNI token awards. Besides that, the Foundation reported $0.5 million in dividend and interest revenue during the quarter.

For the full year, operating expenses totaled $9.7 million, excluding token awards. 

The report also showed that the Foundation received 20.3 million UNI, valued at $114 million at year-end prices, from the Uniswap Treasury through governance approval. Furthermore, it realized $1.7 million in interest income on fiat holdings.

The latest figures position Uniswap with a clearly defined treasury runway, while governance-led structural changes continue reshaping how capital supports ecosystem growth.

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