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Show notes:
In early August, the Uniswap Foundation proposed that Uniswap Governance adopt a Wyoming-registered DUNA (Decentralized Unincorporated Nonprofit Association). A first-of-its-kind structure for DAOs, the DUNA could be crypto’s LLC moment.
Joining me to discuss this development is Brian Nistler, General Counsel of the Uniswap Foundation, and Rodrigo Seira, Special Counsel at Cooley. We discuss what a DUNA is, why Uniswap proposed it, and what it means for governance participants and token holders.
Timestamps:
01:07 – What a DUNA is and why DAOs need it
02:16 – Wyoming's innovation
07:14 – Membership without KYC
09:22 – Uniswap Governance, not Uniswap Foundation
11:25 – Why DUNA is the right fit
13:57 – Liability for token holders?
17:17 – Preserving Uniswap's decentralization
21:13 – Administrators and ministerial agents
24:30 – Will courts respect the liability shield?
25:59 – Tax obligations and tradeoffs
29:37 – Lessons for other DAOs
34:04 – How DUNA fits into Uniswap Unleashed
35:15 – Where the DUNI proposal stands
36:19 – Should non-U.S. projects consider DUNAs?
37:43 – Resources to learn more
Disclaimer:
Nothing in this podcast is legal advice. Please consult a lawyer for advice specific to your situation.
Resources:
