The proposal initiated by Uniswap Foundation in Snapshot 10 days ago has been approved in the first round of voting (temperature voting). The main content is that the Uniswap governance agreement adopts the legal structure of the Decentralized Non Corporate Non Profit Association (DUNA) registered in Wyoming, named DUNI. DUNI has three goals: Support off chain operations: enable Uniswap governance to interact with the real world, such as signing contracts, hiring services/suppliers, and fulfilling regulatory&tax obligations. Maintain decentralization: Do not change the Uniswap protocol, UNI token, or on chain governance mechanism to ensure that the core of decentralized governance remains unchanged. Provide legal protection: isolate risks, provide limited liability protection for governance participants, and prevent individuals from directly facing legal or tax risks. More importantly, it provides the foundation for governance architecture to initiate protocol fees in the next step. We have now entered the second round of voting, which is on chain voting on the Agora platform of the foundation's official website. Currently, 50077586 votes have passed, exceeding the minimum requirement of 40 million votes. By the way, let me introduce the governance and voting mechanism of Uniswap: Temperature Check is the first vote, taken off chain and in snapshot. Fast and low-cost implementation. Test the initial level of community engagement (community sentiment) towards a proposal. The characteristics are no gas fee, low threshold (approved by 10 million UNI votes), and a duration of 5 days. The Governance Proposal is the second vote, on chain, conducted on the Agora platform, and is also the final formal vote to determine whether the proposal is adopted and executed. This vote will directly involve executable code, affecting protocols or vaults (such as transferring funds or changing parameters). The characteristics are the need for gas fees, high threshold (40 million UNI votes passed), duration of 7 days, and automatic execution of on chain contract codes, such as transferring UNI tokens from the treasury as a cost. Does the direct binding of community voting results with smart contracts and token spending feel a bit like a real DAO? That's right.