Wholesale financial surveillance of innocent individuals violates presumption of innocence and ethical principles.

Wholesale financial surveillance of innocent individuals violates presumption of innocence and ethical principles.

The Uniswap Foundation, a prominent non-profit organization focused on growing and decentralizing the Uniswap protocol, has announced a significant proposal. According to the proposal, the Uniswap Governance will adopt a Wyoming-registered Decentralized Unincorporated Nonprofit Association (DUNA) as the legal structure. This new legal entity, dubbed DUNI, aims to provide legal clarity while retaining the decentralized governance model of the Uniswap protocol [1].

The proposal, once passed, will involve transferring $16.5 million worth of UNI tokens to a DUNI-owned wallet for legal and tax purposes. This move is intended to protect governance participants from potential personal exposure to legal or tax liabilities resulting from collective actions taken by Uniswap Governance [1].

Wyoming Senator Cynthia Lummis has welcomed the Uniswap ecosystem to the state, commending the legislature for creating clear crypto regulations. The senator tweeted, "Congrats to Uniswap for setting down roots in Wyoming! Our state’s laws for digital assets are best-in-class, and I commend the Wyoming Legislature for its foresight in creating decentralized nonprofit associations" [1].

The announcement has had an immediate impact on the UNI token price. Following the proposal, UNI price gained around 2 percent within 24 hours, trading at about $11.17 on Monday during the late North American session. The token has since gained over 14 percent in the past seven days, indicating strong market sentiment [1].

Technical analysis suggests that UNI is well-positioned for a significant price increase. The UNI/USD pair has formed an inverted head and shoulders (H&S) pattern in the daily timeframe, with a midterm target of around $20 [1].

References:
[1] https://coinpedia.org/news/uniswap-foundation-proposes-wyoming-based-legal-entity-dubbed-duni-uni-price-up-2-today/