Sushi DAO, a Web3 exchange and staking platform, is seeking support to establish a legal defense fund in order to effectively take on legal cases.
If approved, the fund would come from Kanpai, which is part of the treasury of the DAO, in 50%. The other 50% would be deducted from the Sushi fees and from the reserve destined for giving grants.
If depleted, the organization would have to refund the initiative with $1 millionJared Gray, head chef and main maintainer of the Sushi DAO, announced that he had received a subpoena from the U.S. SEC, but did not disclose the nature of the case the organization is facing. When questioned on the issue, Gray stated:Unfortunately, I cannot speak publicly more than what was disclosed in the post, which is standard. Many DAOs will need or have implemented Legal Defense Funds for contributors.
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