Former Uniswap Labs members issued a proposal to establish a Uniswap Foundation to develop the ecosystem

Devin Walsh, a former member of Uniswap Labs, published a proposal in the Uniswap community. The proposal proposes to establish a Uniswap foundation to develop the ecology, with Devin Walsh as the executive director and Ken Ng in charge of the operation of the foundation. Devin Walsh plans to request a $74 million budget, including $60 million to expand the grant program and $14 million to cover operating expenses, the proposal shows. The budget funds will be delivered in two tranches, with an initial disbursement of $20 million, which is expected to support the foundation's operations for 3 years. In addition, the Uniswap Foundation needs 2.5 million UNI tokens for voting.