Members of the decentralized exchange SushiSwap are to participate in a vote to form a non-profit organization aimed at providing legal certainty and reducing risks for token owners and developers, the project's official blog has reported.
The structure will also reportedly allow for the creation of a body to deal with administrative matters within SushiDAO.
The author of the initiative, whose pseudonym is Tangle, has proposed Switzerland as the organization's country of registration.
According to his calculations, implementation involves a one-time cost of $85,000-100,000 and recurring costs of $10,000. This amount includes legal advice, business structuring, registration and launch.
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If the proposal is approved, it will be necessary to determine the organization's participants, distribute tokens among them and develop a draft charter.
To create additional advisory bodies, it will be necessary to form agreements on their interaction with a non-profit organization.
At the moment, 32 community members have voted favorably on the proposal.
A user named pegbit has stressed the creation of a non-profit organization will allow SushiSwap to stay "on the right track" while limiting the liability of its members.