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The largest decentralized exchange on Ethereum, Uniswap, is planning to put legal "armor" on its governance organization. On August 11, the Uniswap Foundation (UF) submitted a proposal to the community, suggesting to register the Uniswap DAO as a DUNA (Decentralized Unincorporated Nonprofit Association) in Wyoming and establish a new entity called DUNI.

If the proposal is approved, Uniswap DAO will become the largest decentralized organization to adopt this framework to date. This is not only an important step towards DAO compliance but could also provide a legal basis for the "rate switch" that has been pending for years.
The governance principles of decentralized autonomous organizations emphasize on-chain autonomy and permissionless participation, but this model often lacks legal entity status within the existing legal framework. Without legal identity, a DAO cannot sign contracts, hire lawyers or accountants, open bank accounts, and is even less able to respond to lawsuits as an independent entity in legal disputes.
Wyoming was the first state to introduce the DAO LLC bill in 2021, providing a limited liability company structure for on-chain organizations. In March 2024, the state further introduced the DUNA bill, allowing nonprofit DAOs to gain legal recognition with a lighter structure. This legislation is seen as a milestone for the global compliance of DAOs.