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Uniswap’s decentralized governance body reopened its long-debated “fee switch” proposal—potentially directing a cut of protocol trading fees to UNI holders—while also exploring legal incorporation under Wyoming’s DUNA framework, The Block reports.
What’s the Scoop?
- Fee Switch Comes Back: The DAO agreed to vote on activating the “fee switch” this summer, possibly bundled with the plan to become a legally recognized DUNA entity in Wyoming.
- Big Money on the Table:
Uniswap processed over $91 million in swap fees in the last month alone, offering a sizable potential revenue stream for token holders if activated. - Past Pushback Collapsed: A previous vote was canceled amid claims of VC influence and governance doubts—highlighting long-running friction between decentralization ideals and institutional power dynamics.
- DUNA Offers Legal Clarity: Wrapping the DAO in Wyoming’s Decentralized Unincorporated Nonprofit Association structure could help it gain legal recognition, contract authority, and liability protection.
- Quorum Still a Concern: Despite the value at stake, voter apathy and vote concentration remain a problem. Recent attempts missed quorum, underscoring persistent engagement gaps.
