The Uniswap Foundation has proposed the creation of a new legal entity called DUNI under the decentralized unincorporated nonprofit association law in Wyoming.
Goals of Establishing DUNI
The goal of establishing DUNI is to provide Uniswap Governance with legal recognition, new capabilities, and greater autonomy. The DUNI structure will ensure compliance with tax and regulatory requirements.
Financial Plans and Obligations
The proposal includes allocating $16.5 million in UNI tokens to cover tax liabilities and penalties. The expected obligations to the IRS are under $10 million.
Management and Legal Aspects
DUNI will be managed by Cowrie, an advisory firm co-founded by David Kerr. The creation of DUNI opens the opportunity for protocol fees to be funneled into the DAO's treasury.
The DUNI proposal marks a significant step towards legal recognition for decentralized organizations and may serve as a model for other such groups.
