Leading centralized exchange (DEX) Uniswap is currently running a voting process on its latest proposal that wants to know if the UNI governance should allocate 1-1.5 million UNI, worth $26 million – $40 million at the current price, to fund a policy operation to defend the protocol and DeFi from legal and regulatory threats.
As of writing, 68.69% of votes are in favor of the proposal, but there are still three days left in the voting process.
According to the proposal called Funding a Political Defense of DeFi, the idea is to create and fund a community-overseen organization that would finance existing and new political groups engaged in crypto policy/lobbying.
Given that governments are weighing how to regulate decentralized finance, “we need to defend the ecosystem and decentralized ideals,” it suggests.
The goal will be to educate policymakers to preempt regulatory, legal, political, and tax threats to DeFi, achieving regulatory clarity, advancing laws to support the space, and spurring other DeFi protocols’ governance communities to contribute to the effort.
The need for such an organization is urgent because governments around the world are rushing to regulate the projects without being properly educated on their benefits.
“Currently, DeFi is not at the table—but on the menu,” it warns.