Thanks @Leighton. We appreciate all of the hard work and analysis on this topic to date. We believe there is a potential path forward that makes sense. However before moving ahead, we would suggest that the community engage qualified counsel to examine the relevant legal and regulatory considerations, and advise on the best path forward.
In particular, further analysis is warranted to understand the securities and tax law implications of turning on fees, including for the UNI token, the protocol, and the DAO itself. Conducting this analysis up front - and taking any necessary steps that may result - will serve Uniswap well in the end. And given Uniswap’s role as a leader in the industry, it may also serve as a precedent that other DAOs can build upon going forward.
In terms of next steps, we’re happy to assist in this process, including engaging counsel and tax advisors, and open-sourcing any relevant analysis. We could also imagine the Uniswap Foundation helping to drive these efforts on the DAO’s behalf.
We look forward to working with the community and finding the right path ahead.
Jeff
a16z