According to the latest breaking news, the Uniswap Foundation (UNI) has introduced the new structure “Duna DAO,” which paves the way for the long-awaited fee switching feature.
⚪ Following this development, UNI experienced a notable increase in price.
⚪ This new legal entity, known as “DUNI,” will retain the current governance system of Uniswap DAO, gaining official powers such as contracting with service providers and ensuring legal and tax compliance, making Uniswap DAO the largest decentralized organization adopting this legal framework.
⚪ Under the proposal, $16.5 million in UNI will be allocated to cover past tax liabilities and legal defense budget. Since the organization did not choose a corporate structure for tax purposes, the total amount paid to the IRS, including penalties, is expected to be less than $10 million.
⚪ The Uniswap Foundation indicated that the transition to the DUNA framework will pave the way for enabling protocol fees, where a portion of liquidity providers' (LP) fees can be redirected to the DAO treasury.
📈 A chart showing the rise in UNI price after the announcement of the new feature.
❓ What do you think about the new "fee switching" feature in UNI? Do you believe it will change the future of decentralized finance?
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This is not investment advice.