Creating a legal entity for the DAO in the US under the Wyoming-registered Decentralized Unincorporated Nonprofit Association (DUNA) law.
As I’ve written before, this might mean saying goodbye to the idea of distributing revenue to UNI holders/stakers.
But it will be interesting to see the first major project registering a DAO in the US
Ronin has had a Uniswap fork for quite a long time, which, as far as I understand, is controlled by Ronin itself
It is quite strange that Ronin themselves want to take away part of the profit from their fork and give it to Uniswap - but for Uniswap this is certainly a plus
The amount of $500,000 is quite large and higher than the standard $250,000 for deployment in other networks, but since the network is already operational, it is possible to accept such an amount
Unfortunately, instead of analyzing the problem, Uniswap decided to just throw money at the chain
I initially voted against allocating funds to Unichain - the whole point is that there are a lot of chains and some of them provide some advantages (constant) for users, but this chain does not have this
It is necessary to think about the constant advantages of users, such as reducing the commission or others, before using money to solve problems that cannot be solved with money
At first glance, this seems like a standard request for $500k for Plasma incentives.
But there’s a catch: the request is split into $250k + $250k.
Why is this?
The quorum issue is still unresolved → there’s a risk that the DAO won’t approve the entire amount.
But Uniswap has a trump card: the UAC, which has $721k. It’s easy to take $250k from these funds without a DAO vote (but it requires the internal consent of all five members).
Essentially, this vote is only for $250k, because the UAC might issue the other $250k.
As often happens, good intentions in this case proved unfounded in the best-laid proposal.
I remember a similar story with Event Horizon, which received 7 million votes in the Arbitration, and there were serious doubts about who would control such a large vote (which was less than 5% of the quorum). In this case, it’s 50%, which greatly influences any proposal, practically a veto.
Besides the fact that it’s unclear how this contract will vote on proposals not its own, the problem is further complicated by the fact that Uniswap has already distributed 20 million delegations, meaning almost the entire quorum could be dependent on Uniswap—which doesn’t exactly sound like decentralized governance.