Establish a legal defense fund to cover legal costs for core contributors and multisig participants.
Summary
The international regulatory environment for DAOs remains in flux, and the options for contributor insurance policies remain limited. Therefore, we propose Sushi DAO make available a legal defense fund of 3M USDT. This fund will cover legal costs regarding inquiries, litigation, and other issues targeting core contributors. As proposed in March ’22, Sushi (Sushi Legal Structure) sought to establish a legal entity to reduce liability for contributors and the DAO. Yet, it has become evident funds must be available to handle legal needs for operational continuity and to protect core contributors.
Cause
Sushi, and Head Chef Jared Grey, were recently served with an SEC Subpoena. We’re cooperating with the SEC. We do not intend to comment publicly on ongoing investigations or other legal matters.
Coverage
The Sushi DAO Legal Defense Fund will provide coverage for reasonable attorneys’ fees and costs for the following parties:
- Core contributors and multisig participants active since the ratification of Sushi 2.0 (Sushi 2.0: A
