Lido DAO裁决：对去中心化治理的巨大打击

去中心化自治组织 (DAO) 最初构想于 2016 年，它是加密货币对如何指导去中心化协议事务问题的回应。

The latest development in the ongoing legal saga surrounding decentralized autonomous organizations (DAOs) could have far-reaching implications for the future of decentralized finance (DeFi).

围绕去中心化自治组织（DAO）的持续法律事件的最新进展可能会对去中心化金融（DeFi）的未来产生深远的影响。

On Monday, a federal judge ruled that a decentralized autonomous organization (DAO) could be held liable for the actions of its members, opening the door for further legal actions against DAOs and their participants.

周一，一名联邦法官裁定，去中心化自治组织 (DAO) 可能对其成员的行为承担责任，这为针对 DAO 及其参与者采取进一步法律行动打开了大门。

The ruling stems from a lawsuit filed last year by Andrew Samuels, a Lido token (LDO) holder, who alleged that Lido DAO and several venture capital firms that participated in the DAO's token sale violated federal securities laws by offering and selling unregistered securities.

该裁决源于 Lido 代币（LDO）持有者 Andrew Samuels 去年提起的诉讼，他指控 Lido DAO 和参与 DAO 代币销售的几家风险投资公司通过发行和销售未注册的证券违反了联邦证券法。

Samuels also claimed that Lido DAO, which is not legally incorporated, is a general partnership under California law, and that its members, including the VCs, are jointly liable for the DAO's debts and obligations.

Samuels 还声称，Lido DAO 不是合法注册的，根据加州法律，它是一家普通合伙企业，其成员（包括风险投资公司）对 DAO 的债务和义务承担连带责任。

In his ruling, U.S. District Judge Vince Chhabria largely agreed with Samuels' argument, finding that he had "sufficiently alleged that the DAO had a partnership-like relationship with the VCs and that the VCs played a role in soliciting the purchase of Lido tokens."

美国地区法官 Vince Chhabria 在裁决中基本同意 Samuels 的论点，认为他“充分声称 DAO 与风险投资公司之间存在类似合作伙伴关系，并且风险投资公司在招揽购买 Lido 代币方面发挥了作用。 ”

The judge noted that the plaintiff had argued that the VCs "participated in discussions about exchange listings, which at least solicited the purchase of Lido tokens by others on those exchanges."

法官指出，原告辩称风险投资公司“参与了有关交易所上市的讨论，这至少招揽了其他人在这些交易所购买 Lido 代币。”

However, the judge dismissed Samuels' claims against Robot Ventures, one of the VCs named in the lawsuit, and also agreed with Lido DAO's argument that it could not be held liable for the actions of Robot Ventures.

不过，法官驳回了 Samuels 对诉讼中点名的风险投资公司之一 Robot Ventures 的索赔，并且也同意 Lido DAO 的论点，即它不能对 Robot Ventures 的行为承担责任。

Following the ruling, a lawyer for Andreessen Horowitz (a16z), one of the VCs named in the lawsuit, expressed disappointment with the decision and said that it had "broad implications for DAO participation."

裁决后，诉讼中提到的风险投资公司之一 Andreessen Horowitz (a16z) 的律师对这一决定表示失望，并表示这“对参与 DAO 具有广泛影响”。

"We believe the Court erred in its analysis and will continue to defend a16z's role in supporting decentralized protocols," the lawyer added.

“我们认为法院的分析是错误的，并将继续捍卫 a16z 在支持去中心化协议方面的作用，”律师补充道。

notably, this is not the first time that a court has ruled that a DAO can be considered a general partnership.

值得注意的是，这并不是法院第一次裁定 DAO 可以被视为普通合伙企业。

Earlier this year, a federal judge in California allowed a group of users who lost funds in a bZx exploit to proceed with a lawsuit against the decentralized exchange's DAO.

今年早些时候，加利福尼亚州的一名联邦法官允许一群因 bZx 漏洞而损失资金的用户对去中心化交易所的 DAO 提起诉讼。

In another case, a judge allowed a class action lawsuit against Compound Labs, the creator of the decentralized lending protocol Compound, to proceed with claims that the protocol's governance token was an unregistered security.

在另一起案件中，法官允许针对去中心化借贷协议Compound的创建者Compound Labs提起集体诉讼，声称该协议的治理代币是未注册的证券。

These rulings could have a significant impact on the way that DAOs are structured and operate in the future.

这些裁决可能会对 DAO 未来的构建和运营方式产生重大影响。

If DAOs are to be held to the same standards as general partnerships, then their members could face increased personal liability for the actions of the DAO.

如果 DAO 遵循与普通合伙企业相同的标准，那么其成员可能会因 DAO 的行为而面临更大的个人责任。

This may lead some DAOs to seek legal recognition and protection by forming limited liability companies (LLCs) or other types of legal entities.

这可能会导致一些 DAO 通过成立有限责任公司（LLC）或其他类型的法律实体来寻求法律认可和保护。