DeFi Project Hector Mulls Legal Wrapper to Shield DAO

DeFi Project Hector Mulls Legal Wrapper to Shield DAO

The future of Hector Network is in flux with leaders holding a vote on a plan to wrap the OlympusDAO fork in an offshore legal cocoon and – according to critics – dilute token holders’ rights.

Hector Improvement Proposal 40 (HIP 40) would clear up the myriad legal uncertainties that Hector faces as a “decentralized autonomous organization,” or DAO, according to a vote ending May 20. Other DAOs including SushiSwap have also endeavored to change their legal formation in response to growing regulatory scrutiny of purportedly decentralized crypto projects.

Alongside clearing legal liabilities, however, the new structure would give broad powers over the levers of governance to employees of

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