AIP-277: Re-evaluating ApeCoin DAO Special Council Salaries Structure

For the benefit of those in the DAO who don’t understand or recognize the seriousness of this DAO putting itself in legal jeopardy, here are some resources which I hope that everyone will read.

To be clear. As per US law precendent, every single member of this DOA has a legal liability. If you don’t have insurance and this DAO gets sued, you’re screwed. It’s that simple. For that reason, I am going to reach out to the Webslinger legal team to get more insight to the DAO formation docs - which I will then make public in a post here on Discourse.

On Dec. 20, 2022, Judge William Orrick of the U.S. District Court for the Northern District of California concluded2 that Ooki DAO could be sued because Ooki DAO was an unincorporated association, and – to the disappointment to many advocates in the crypto community – that the CFTC’s service made through the DAO’s online community forum was sufficient.”

This DAO is ALL OF US. Not the group that created the DAO over a year ago. It’s ALL of us by the very nature that buying 1 $Ape puts you in the DAO. And those of us here in the US have even more legal exposure than those in other countries.

Do DAO Participants Know They Have Legal Exposure for Their DAO Participation?

How Do You Sue a DAO? These Recent Developments May Shed Some Light

Putative Class Action Lawsuit Alleges DAO Members Are Jointly and Severally Liable for a Cryptocurrency Hack

How to Sue A Decentralized Autonomous Organization - In this opinion piece, Stephen D Palley discusses the potential legal liabilities facing those who run distributed autonomous organizations.

The impact and rise of DAOs in the legal industry - “As long as DAOs are not legally recognized, they also do not have limited liability protection. This means that contributors to a DAO can be held personally liable for the debts and obligations of the DAO

How Do You Sue a DAO? These Recent Developments May Shed Some Light - “And treatment as an unincorporated general partnership carries serious risks. Because it is unincorporated, there is no corporate shield to protect the partners’ assets like there would be for a corporation or a LLC. And each partner can be rendered jointly and severally liable, meaning that one partner can be made wholly liable for another partner’s debt.”

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