After analyzing the proposal, participating in Q&As, and speaking directly with Erin Koen and Brian Nistler, FranklinDAO believes a DUNA is the most effective path forward for Uniswap Governance. The Foundation explored a wide range of alternative structures across multiple jurisdictions and after extensive diligence determined the DUNA to be the best option.
The structure provides liability protection and legal personality the DAO has lacked while preserving the decentralized authority of on-chain governance. It also creates the foundation to move forward on the fee switch, which will be critical to sustaining protocol interest and rewarding UNI holders.
That said, there are still areas that may warrant closer examination: the ambiguity around tax obligations, the concentration of responsibility in a single administrator (Cowrie/Kerr), and the precedent of placing the DAO under U.S. tax jurisdiction. These concerns are not deal-breakers but deserve continued attention.
In sum, FranklinDAO strongly supports this proposal. It is directionally correct, strategically important, and an essential step for Uniswap’s long-term success.