Unchained Can a DAO Go to Court? According to Two DAO Legal Experts… Probably - Ep.254
Jul 13, 2021
Aaron Wright, co-founder of OpenLaw and blockchain law professor, and Ross Campbell, core developer at SushiSwap, dive into the fascinating world of DAOs. They discuss whether DAOs can sue for IP protection and the intricacies of governance tokens as securities. The duo debates how Wyoming’s DAO law offers advantages over Delaware's framework. They also tackle open-source licensing challenges in DeFi, spotlighting the impact of Uniswap's licensing strategy. Their insights illuminate how legal frameworks must evolve to support the crypto revolution.
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Episode notes
Curve vs. Saddle Finance
- Curve, a DeFi automated market maker, considered legal action against Saddle Finance for alleged code copying.
- This situation highlights the complex legal questions surrounding DAOs and intellectual property rights.
DAOs as Partnerships
- In the US, a DAO like Curve might be legally considered a partnership.
- Partnerships can sue, raising questions about how such online groups enforce their rights.
Governance Tokens as Securities?
- Whether a DAO's governance token is a security depends on its structure and profit distribution.
- This echoes earlier debates about utility tokens and requires navigating US regulatory bodies and courts.
