Lido DAO 裁決凸顯了去中心化組織的法律風險

透過強調在沒有官方法律體系的情況下運作的危險，這項裁決為 DAO 及其成員樹立了一個重要的法律先例。

A United States District Court for the Northern District of California has found Lido DAO to operate under state law as a general partnership, making its members potentially liable for the company’s activities.

美國加州北區地方法院裁定 Lido DAO 根據州法律作為普通合夥企業運營，使其成員可能對該公司的活動承擔責任。

The matter arose from an investor lawsuit alleging that Lido DAO’s LDO token issuance qualifies as unregistered securities. While Lido DAO maintained that it was not a legal entity and did not directly sell tokens, the court found that its selling and advertising of tokens via crypto exchanges constituted a securities transaction.

此事起因於一項投資者訴訟，指控 Lido DAO 的 LDO 代幣發行符合未註冊證券的資格。儘管Lido DAO堅稱其不是法人實體，也沒有直接銷售代幣，但法院認定其透過加密貨幣交易所銷售和宣傳代幣構成了證券交易。

The California court’s decision to classify Lido DAO as a general partnership highlights the legal risks associated with decentralized autonomous organizations (DAOs) and their members. This ruling emphasizes that governance involvement and operational benefits may expose members to liability, despite the distributed and decentralized nature of DAOs.

加州法院將 Lido DAO 歸類為普通合夥企業的決定凸顯了與去中心化自治組織 (DAO) 及其成員相關的法律風險。該裁決強調，儘管 DAO 具有分散式和去中心化的性質，但治理參與和營運利益可能會讓成員承擔責任。

The court also rejected Lido DAO’s argument that its distributed nature disqualified it from falling under partnership rules. This decision could have broader implications for other distributed organizations, particularly those engaging in the tokenization of assets without clear legal compliance.

法院也駁回了 Lido DAO 的論點，即其分散性質使其不符合合夥規則。這項決定可能會對其他分散式組織產生更廣泛的影響，特別是那些在沒有明確法律合規性的情況下從事資產代幣化的組織。

This decision adds to the increasing legal scrutiny faced by distributed organizations. Authorities are closely monitoring the operations and member liability of such entities, especially those involved in tokenized asset offerings.

這項決定加劇了分散式組織面臨的日益嚴格的法律審查。當局正在密切監視此類實體的運作和成員責任，特別是那些涉及代幣化資產發行的實體。

While decentralization aims to spread responsibility among participants and insulate them from direct liability, this legal development shows that it may not fully protect individuals or organizations engaged in a DAO. As a result, DAOs must evaluate their structures and ensure compliance with applicable laws to mitigate potential legal risks.

雖然去中心化的目的是在參與者之間分散責任並使他們免於直接責任，但這項法律發展表明它可能無法充分保護參與 DAO 的個人或組織。因此，DAO 必須評估其結構並確保遵守適用的法律，以降低潛在的法律風險。

Despite these challenges, interoperability and innovation continue to advance in the broader blockchain ecosystem. CNF recently reported on GMX-Solana integrating Chainlink’s Data Streams to enhance trade transparency and accuracy on Solana’s derivative platform.

儘管存在這些挑戰，互通性和創新在更廣泛的區塊鏈生態系統中仍在不斷進步。 CNF 最近報告了 GMX-Solana 整合 Chainlink 的資料流，以提高 Solana 衍生性商品平台上的交易透明度和準確性。

Additionally, Lido DAO has integrated Chainlink’s CCIP to enable direct ETH staking from Layer-2 networks without requiring a bridge to Ethereum’s mainnet. At the time of writing, LDO tokens were trading at around $1.17, down 1.44% over the last 24 hours, with a market cap of less than $1.2 billion.

此外，Lido DAO 還整合了 Chainlink 的 CCIP，可以從第 2 層網路直接進行 ETH 質押，而無需連接以太坊主網。截至本文撰寫時，LDO 代幣交易價格約為 1.17 美元，過去 24 小時內下跌 1.44%，市值不到 12 億美元。