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Groundbreaking decision by the SushiSwap community: legal structure in Switzerland to limit DAO liability

 


SushiSwap ( SUSHI ) is a collaborative suite of DeFi tools and plans to introduce a legal structure designed to mitigate risks for token holders and members of the Sushi protocol. 


Sushi's new legal structure is based on a community-approved proposal dated March 20, which stated that an association or foundation would be needed to provide legal clarity and administrative support for SushiDAO.



The proposal's author, and a member of the SushiSwap community Tangle, said the proposed foundation would play a key role in reducing liability for contributors, thereby fueling sushi's future growth.


Due to the possible risk reduction and limitation of liability through legal clarity for owners and contributors, the proposal for a legal structure was accepted unanimously.



Voting Results of the Sushi Legal Structure Proposal. Source: Sushi Forum

Tangle has upfront estimates of the cost of setting up the foundation at up to $100,000. After that, it regularly accumulates around $10,000:


"There are several regions that can be considered for establishing a DAO. But Swiss association law is currently the leading solution."


Estimated budget for the foundation. Source: Sushi Forum

The foundation will be set up by the sushi community in four stages. These included the appointment and determination of the members, the distribution and transfer of the tokens and the draft of the foundation statutes.


The proposal also provides for service entities, including "DevCo service entities and other key contributors of entities," to be established. Individuals residing in crypto-friendly countries are considered ideal candidates for membership in the foundation.


During the discussion, community members emphasized the importance of defining the purpose of the foundation and what it owns:


"This is definitely a must. It really is about time Sushi updated itself and put legal protections in place for all contributors."

In this context: Dogecoin Foundation: Names and logos registered as trademarks in the EU


As smaller crypto communities gradually become mainstream, foundations play a crucial role in determining the future development roadmap and the relevance of the project. In order to eradicate imitators, the Dogecoin Foundation has registered "Doge", "Dogecoin" and the associated logos as trademarks in the European Union.



As Cointelegraph reported, the Dogecoin Foundation has often had issues with its name and imagery being misused. According to ex-director Ross Nicoll, several parties have registered trademarks for Dogecoin. He went on to state that "in the summer of 2021 there was a potential lawsuit against the developers by someone who was claiming that we were responsible for their funds".

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