This episode is brought to you by Day One Law, a boutique corporate law firm helping crypto startups navigate complex legal challenges. Visit ⁠⁠dayonelaw.xyz⁠⁠ to get in touch, or ⁠⁠subscribe to their free newsletter⁠⁠ for crypto legal updates.Show notes: In early August, the Uniswap Foundation proposed that Uniswap Governance adopt a Wyoming-registered DUNA (Decentralized Unincorporated Nonprofit Association). A first-of-its-kind structure for DAOs, the DUNA could be crypto’s LLC moment.Joining me to discuss this development is Brian Nistler, General Counsel of the Uniswap Foundation, and Rodrigo Seira, Special Counsel at Cooley. We discuss what a DUNA is, why Uniswap proposed it, and what it means for governance participants and token holders.Timestamps:01:07 – What a DUNA is and why DAOs need it02:16 – Wyoming's innovation07:14 – Membership without KYC09:22 – Uniswap Governance, not Uniswap Foundation11:25 – Why DUNA is the right fit13:57 – Liability for token holders?17:17 – Preserving Uniswap's decentralization21:13 – Administrators and ministerial agents24:30 – Will courts respect the liability shield?25:59 – Tax obligations and tradeoffs29:37 – Lessons for other DAOs34:04 – How DUNA fits into Uniswap Unleashed35:15 – Where the DUNI proposal stands36:19 – Should non-U.S. projects consider DUNAs?37:43 – Resources to learn moreDisclaimer: Nothing in this podcast is legal advice. Please consult a lawyer for advice specific to your situation.Resources:Uniswap DUNA ProposalMiles Jennings and David Kerr on the DUNA

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