CoinVoice has recently learned that, according to The Block, the Uniswap foundation has proposed to establish a new legal entity named 'DUNI' for its governance organization under the 'Decentralized Unincorporated Nonprofit Association' (DUNA) legal framework in Wyoming.
The foundation is responsible for overseeing the world's largest decentralized cryptocurrency spot trading platform. This new legal entity will provide a legal shell for the Uniswap DAO while retaining its existing governance structure, allowing it to retain service providers, enter into contracts, and fulfill regulatory and tax compliance obligations.
If the proposal is approved, the Uniswap DAO will become the largest decentralized organization adopting this legal framework. According to the terms of the proposal, the entity will receive UNI tokens worth $16.5 million to settle past tax obligations and establish a legal defense budget. Since Uniswap has never opted to be taxed as a corporation, the foundation expects to pay less than $10 million to the IRS to clear historical tax debts and penalties.
The Uniswap foundation noted in the announcement that adopting the DUNA framework will pave the way for introducing protocol fees, which will then transfer part of the liquidity provider fees to the DAO treasury. [Original link]
