The Uniswap community is voting on a key proposal to set up a new legal entity in the U.S. state of Wyoming that aims to support off-chain operations.
"This new legal entity, called “DUNI”, will be purpose-built to preserve Uniswap’s decentralized governance structure while enabling engagement with the offchain world," the proposal wrote.
Off-chain engagement includes activities such as entering into contracts, hiring service providers, and fulfilling regulatory and tax obligations, according to the proposal, which emphasized that the legal entity would not impact Uniswap, its on-chain governance, or its native token UNI in any way.
The establishment of DUNI would further protect governance participants from potential personal exposure to legal or tax liabilities resulting from a collective action by the Uniswap governance.
The initial temperature check vote showed 100% community support. The proposal has moved to the final vote that will conclude on Sept. 8.
"This is a critical step in de-risking engagement in Uniswap Governance without compromising decentralization," the proposal said.
