“There’s no organization within the Uniswap ecosystem focused on reducing the friction in governance, and that is one area that the foundation will be focused on,” said Devin Walsh, the community member who authored the initial proposal.

Community members of decentralized exchange Uniswap have voted to create the Uniswap Foundation, an organization aiming to support open-source development and community governance within the protocol.

The voting, which concluded Tuesday evening, overwhelmingly supported creating the foundation. The foundation aims to streamline its grants process and reduce friction in governance around the protocol’s community treasury support developers in the Uniswap ecosystem, and bolster the community.

The foundation is requesting $74 million from the DAO treasury, which currently holds over $3 billion in UNI, the protocol’s native token. $14 million of the funds will support the foundation’s team, and $60 million will be used for developer grants.

“There’s no organization within the Uniswap ecosystem focused on reducing the friction in governance, and that is one area that the foundation will be focused on and is excited to work on,” Devin Walsh, a Uniswap community member who proposed the foundation alongside Kenneth Ng, told CoinDesk. “We want to ensure that there will be a large, thriving ecosystem of organizations that are building on, integrating with, and organizing events in support of the protocol.”

Uniswap community members have been deploying projects to support developers in the ecosystem. In April, Uniswap Labs created a venture capital wing to fund early projects on the protocol. One month later, the DEX surpassed $1 trillion in total trading volume.

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The move comes shortly after the U.S. government placed sanctions on privacy mixer Tornado Cash, prompting other DeFi developers to take protective measures.

Decentralized exchange (DEX) Uniswap has blocked 253 crypto addresses that were apparently linked to sanctioned privacy tool Tornado Cash or to stolen funds, according to GitHub data cited by Yearn Finance developer “Banteg.”

These addresses were either sanctioned by the U.S. government or had directly received hacked or stolen funds from numerous crypto platforms in the past few years.

The 253 blocked crypto addresses can continue to use Uniswap’s smart contracts – a decentralized service that exists on the Ethereum blockchain. However, they cannot use the popular Uniswap website, which is a frontend managed and maintained by Uniswap Labs, a New York-based company.

“[It] surely it makes no sense to block it,” said Banteg, pointing out that a burn wallet was among the 253 blocked addresses. Other wallets, noted Banteg, were only connected to a bad wallet and may not have directly engaged in nefarious activities.

Thirty addresses blocked by Uniswap were associated with Ethereum Name Service (ENS) domain names, a service that ties crypto wallets to human-readable names, added Banteg: “Most are likely legitimate users that have fallen to trm collateral damage.”
Uniswap is currently working with blockchain analytics firm TRM Labs to trace a user’s wallet activity as part of a broader risk management drive, as per an April post.

The DEX previously blocked addresses on the OFAC sanctions list but has since extended the purview to include wallet addresses associated with illicit activity, such as stolen funds or ransomware, from interacting with the Uniswap frontend developed and maintained by Uniswap Labs.

TRM Labs flags addresses to Uniswap based on seven categories, including stolen funds, privacy mixers, known terrorist wallets and wallets connected to child abuse. These are sent to Uniswap Labs, which may take further action.

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