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23 June 2021

Uniswap Effort for $25 Million DeFi Lobbying Fund Inches Forward—Despite Detractors - Decrypt

Uniswap Effort for $25 Million DeFi Lobbying Fund Inches Forward—Despite Detractors - Decrypt


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Uniswap Effort for $25 Million DeFi Lobbying Fund Inches Forward—Despite Detractors.

An initiative by Uniswap token holders to create a $25 million "political defense" fund for DeFi protocols is two steps closer to becoming a reality.

The fund was proposed by the Harvard Law Blockchain & FinTech Initiative (HarvardLawBFI), who want 1 million UNI tokens ($25.7 million as of publication) from the community treasury to prop up a501(c)(4) nonprofitthat would "defend the protocol and DeFi from legal and regulatory threats.".

HarvardLawBFI told Decrypt via email that it is "moving forward with the governance proposal, which should be posted in Uniswap governance channels within the next few days.".

The group proposes seven members for the DeFi Defense Fund: Compound Labs General Counsel Jake Chervinsky, Aave General Counsel Rebecca Rettig, dYdX Trading General Counsel Marc Boiron, Uniswap Labs CLO Marvin Ammori, Brex CLO Katie Biber, Reverie co-founder Larry Sukernik, and the World Economic Forum's Sheila Warren.

Others, including ConsenSys General Counsel Matt Corva, think the initiative issolid, given that "those who will be tasked with the advocacy are themselves the foremost legal/policy experts on the technology itself." (ConsenSys provides funding to an editorially independentDecrypt.)

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