4 ms·

...what even is SushiDAO? A Google search for "What is SushiDAO?" just gave a lot of articles with crypto-word-soup.

noloblo 4y ago
maker of sushi-swap dex incorporated as a company perhaps a c-corp unnecessarily SushiDAO created a legal entity “to reduce liability” and then that entity and an individual associated with it got subpoenaed. PSA: if there’s an entity, it’s not a Decentralized Autonomous Organization sushiswap: https://www.sushi.com/ https://www.sushi.com/ $SUSHI coin: https://coinmarketcap.com/currencies/sushiswap/ https://coinmarketcap.com/currencies/sushiswap/ SBF on sushi-swap: https://www.forbes.com/sites/tatianakoffman/2020/09/06/exclusive-sbf-speaks-out-on-defis-sushi-saga/ https://www.forbes.com/sites/tatianakoffman/2020/09/06/exclu... SBF the white-knight saved sushi swap https://decrypt.co/41606/the-man-who-saved-sushiswap https://decrypt.co/41606/the-man-who-saved-sushiswap
- World177 4y ago
  > PSA: if there’s an entity, it’s not a Decentralized Autonomous Organization I don't completely agree, because a DAO like SushiDAO could lose it's websites and social media accounts, but the total value locked in it's smart contracts would not immediately change. (in the same way as a normal legal entity) These types of contracts are usually governed with their token, which would persist if the legal entity and current developers disappeared. Though, without a way for users to interact with the contract, I would imagine most of the total value locked would move away from the contracts afterwards.
robopsychology 4y ago
SushiSwap is an exchange where you can swap TokenA for TokenB. A DAO is where an Organization operates based on RFCs and community voting. SushiDAO is the combination of the two, so an exchange that is ran by community voting. I suspect if it’s a DAO operating as a subsidiary of an LLC it’s a method to avoid liability.
ramesh31 4y ago
It's a crypto exchange.
unraveller 4y ago
>SushiDAO is a decentralized autonomous organization (DAO) that operates as a decentralized exchange (DEX) for cryptocurrencies[1]. It allows users to trade cryptocurrencies without the need for a central operator administrator, using their own preferred connected crypto wallet. SushiDAO has recently been in the news due to legal action taken against it by the U.S. Securities and Exchange Commission (SEC)[2][3]. In response, SushiDAO has proposed creating a legal defense fund to cover legal costs for core contributors and multisig participants[4][5]. Perplexity is a lot friendlier to crypto in search. https://www.perplexity.ai/search/61e58dba-0ef2-49fb-bc11-bf4d718a2de4?s=u https://www.perplexity.ai/search/61e58dba-0ef2-49fb-bc11-bf4...
ForHackernews 4y ago
It's crypto fish soup.

maker of sushi-swap dex incorporated as a company perhaps a c-corp unnecessarily SushiDAO created a legal entity “to reduce liability” and then that entity and an individual associated with it got subpoenaed. PSA: if there’s an entity, it’s not a Decentralized Autonomous Organization sushiswap: https://www.sushi.com/ https://www.sushi.com/ $SUSHI coin: https://coinmarketcap.com/currencies/sushiswap/ https://coinmarketcap.com/currencies/sushiswap/ SBF on sushi-swap: https://www.forbes.com/sites/tatianakoffman/2020/09/06/exclusive-sbf-speaks-out-on-defis-sushi-saga/ https://www.forbes.com/sites/tatianakoffman/2020/09/06/exclu... SBF the white-knight saved sushi swap https://decrypt.co/41606/the-man-who-saved-sushiswap https://decrypt.co/41606/the-man-who-saved-sushiswap

World177 4y ago
> PSA: if there’s an entity, it’s not a Decentralized Autonomous Organization I don't completely agree, because a DAO like SushiDAO could lose it's websites and social media accounts, but the total value locked in it's smart contracts would not immediately change. (in the same way as a normal legal entity) These types of contracts are usually governed with their token, which would persist if the legal entity and current developers disappeared. Though, without a way for users to interact with the contract, I would imagine most of the total value locked would move away from the contracts afterwards.

robopsychology 4y ago

SushiSwap is an exchange where you can swap TokenA for TokenB. A DAO is where an Organization operates based on RFCs and community voting. SushiDAO is the combination of the two, so an exchange that is ran by community voting. I suspect if it’s a DAO operating as a subsidiary of an LLC it’s a method to avoid liability.

ramesh31 4y ago

It's a crypto exchange.

unraveller 4y ago

>SushiDAO is a decentralized autonomous organization (DAO) that operates as a decentralized exchange (DEX) for cryptocurrencies[1]. It allows users to trade cryptocurrencies without the need for a central operator administrator, using their own preferred connected crypto wallet. SushiDAO has recently been in the news due to legal action taken against it by the U.S. Securities and Exchange Commission (SEC)[2][3]. In response, SushiDAO has proposed creating a legal defense fund to cover legal costs for core contributors and multisig participants[4][5]. Perplexity is a lot friendlier to crypto in search. https://www.perplexity.ai/search/61e58dba-0ef2-49fb-bc11-bf4d718a2de4?s=u https://www.perplexity.ai/search/61e58dba-0ef2-49fb-bc11-bf4...

ForHackernews 4y ago

It's crypto fish soup.