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Uniswap Foundation Proposes Wyoming-based Legal Entity Dubbed DUNI: UNI Price Up 2% Today
The Uniswap Foundation, a well-funded nonprofit organization dedicated to growing and decentralizing the Uniswap protocol, has announced a new proposal that aims to establish a Wyoming-registered Decentralized Unincorporated Nonprofit Association (DUNA) as its legal structure. The proposed entity, dubbed DUNI, will allow the Uniswap Governance to retain its decentralized governance while achieving legal clarity.
The main purpose of this proposal is to provide critical limited liability protections for governance participants. This means that in the event of any potential legal or tax liabilities arising from collective actions taken by Uniswap Governance, these protections would shield individual participants from personal exposure.
As a result of this proposal, $16.5 million worth of UNI tokens will be transferred to a DUNI-owned wallet for the purposes of facilitating its legal defense and tax compliance budget.
Source: coinpedia.org
