Lido DAO 裁决凸显了去中心化组织的法律风险

通过强调在没有官方法律体系的情况下运行的危险，这项裁决为 DAO 及其成员树立了一个重要的法律先例。

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.

美国加利福尼亚州北区地方法院裁定 Lido DAO 根据州法律作为普通合伙企业运营，使其成员可能对该公司的活动承担责任。

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.

此事起因于一项投资者诉讼，指控 Lido DAO 的 LDO 代币发行符合未注册证券的资格。尽管Lido DAO坚称其不是法人实体，也没有直接销售代币，但法院认定其通过加密货币交易所销售和宣传代币构成了证券交易。

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.

加州法院将 Lido DAO 归类为普通合伙企业的决定凸显了与去中心化自治组织 (DAO) 及其成员相关的法律风险。该裁决强调，尽管 DAO 具有分布式和去中心化的性质，但治理参与和运营利益可能会让成员承担责任。

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.

法院还驳回了 Lido DAO 的论点，即其分布式性质使其不符合合伙规则。这一决定可能会对其他分布式组织产生更广泛的影响，特别是那些在没有明确法律合规性的情况下从事资产代币化的组织。

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.

这一决定加剧了分布式组织面临的日益严格的法律审查。当局正在密切监视此类实体的运营和成员责任，特别是那些涉及代币化资产发行的实体。

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.

虽然去中心化的目的是在参与者之间分散责任并使他们免于直接责任，但这一法律发展表明它可能无法充分保护参与 DAO 的个人或组织。因此，DAO 必须评估其结构并确保遵守适用的法律，以降低潜在的法律风险。

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.

尽管存在这些挑战，互操作性和创新在更广泛的区块链生态系统中仍在不断进步。 CNF 最近报道了 GMX-Solana 集成 Chainlink 的数据流，以提高 Solana 衍生品平台上的交易透明度和准确性。

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 还集成了 Chainlink 的 CCIP，可以从第 2 层网络直接进行 ETH 质押，而无需连接以太坊主网。截至撰写本文时，LDO 代币交易价格约为 1.17 美元，过去 24 小时内下跌 1.44%，市值不足 12 亿美元。