The Uniswap Foundation proposed that Uniswap Governance become a Wyoming Decentralized Unincorporated Nonprofit Association (DUNA). This legal structure aims to enhance operational clarity, allowing for more secure operations compared to prior frameworks. The proposal comes amid a backdrop where Uniswap has generated $122 million in fees over the last 30 days, highlighting its substantial activity within the decentralized exchange space. General Counsel Brian Nistler emphasized that transitioning to a DUNA would position Uniswap Governance as a significant precedent in the regulatory landscape for decentralized organizations. This move is particularly crucial as it allows token holders to receive a portion of trading fees without violating U.S. securities laws, which has been a major concern. Currently, Uniswap Governance operates as a Decentralized Autonomous Organization (DAO) where decisions are democratically made by UNI token holders. This legal framework, enacted in Wyoming last year, positions DAOs to better contract, own assets, and interact within the legal system without losing their decentralized ethos.

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