Uniswap's proposal for a joint issuance of Visa cards faces criticism from the community.

Recently, the Uniswap DAO put forth a proposal regarding whether community members should collaborate with Fiat24, an online banking service, to issue credit cards using the Uniswap logo. However, DeFi researcher Ignas argued that branding issues should not be subject to a vote, commenting that the governance boundaries of Uniswap are ambiguous.

Uniswap DAO Launches Branded Credit Card Proposal

The proposal was initiated by Fiat24, backed by a Swiss bank that operates banking services through Arbitrum, claiming to have completely abandoned centralized servers with all banking operations logic run by smart contracts. Uniswap, their liquidity partner, assists users in trading cryptocurrency accounts.

Fiat24 states that Uniswap is their sole liquidity provider, hence the plan to issue a co-branded Visa card with Uniswap as a reward. The proposal is currently undergoing the first phase of consensus voting, known as a Temperature check.

Concerns about Uniswap DAO Governance Scope

DeFi researcher Ignas believes that decisions related to intellectual property should not be left to Uniswap DAO. According to Uniswap Labs' terms of service, Uniswap Labs should own all intellectual property and other rights to each product and its content, including the trademark in this vote, allowing the team to independently decide on co-branding. However, Ignas admits he is not a legal professional and defers detailed issues to those more qualified.

Ignas suggests that decisions like the recent introduction of an additional 0.15% service fee by Uniswap should perhaps be subject to DAO voting, indicating that the governance scope of Uniswap DAO is currently unclear, despite this proposal being initiated by community members.

Currently, the community vote on this proposal shows more opposition than agreement. Some community members argue that co-branding is a matter that requires careful consideration and should not be rushed, while others remind that trademark rights should belong to Uniswap Labs, echoing Ignas's argument.

Multiple Governance Disputes in Uniswap

The author compiles major decisions affecting operations in the past, such as Uniswap blocking specific front-end tokens and acquiring the NFT exchange Genie, all of which were made without community governance approval.