As revealed recently, the popular decentralized finance project Yearn has proposed to fund a builder-first legal activism decentralized autonomous organization (DAO) amid the intensification of crypto regulations. This happened while the crypto community is fighting against the controversial bipartisan infrastructure bill that overreaches its definition of the term broker in regards to the crypto tax provision.
As per the official details regarding the project, it said:
So far, the submitted proposal has managed to get 100% support from its holders in the light of the ongoing regular inspection and it reads:
In addition to this, the proposal noted that Gary Gensler, the SEC Chair has warned about Defi platforms, CFTC Commissioner Dan Berkovitz found it incompatible with the policies, how media is calling Defi a shadow financial market, and much more. It said:
While all of this is going on, the Creator of Uniswap, Hayden Adaman, took it to Twitter to call out the detractors of the Defi Education Fund (DEF), proposed by the DEX. He said:
This became the cause of a lot of drama last month when the community got upset about the lack of broad involvement as a few hefty voters skewed the decision.