🔥🔥Hot News! The Lido community recently launched a proposal vote to respond to the pending class action lawsuit against Lido DAO. It is reported that a private plaintiff filed a class action lawsuit in the United States District Court for the Northern District of California, alleging that Lido DAO is a "general partnership operating an Ethereum staking business" and that its LDO tokens or LDO token transactions are accused of being securities or securities transactions. 😱

The court ruled that the plaintiff's service of legal documents to Lido DAO by public release was legal and required Lido DAO to respond within 14 days, otherwise it would face a default judgment on the plaintiff's claim. 😰

Therefore, the Lido community proposed to appoint and fund Dolphin CL, LLC, a Delaware limited liability company, to hire legal counsel to draft, submit and argue a motion to support the dismissal of the claims involving Lido DAO. 💼

The proposal requested a funding amount of 200,000 DAI, which is expected to be sufficient to pay for the services of Dolphin and its legal counsel. The proposal will be voted on on July 10, and the approval rate is currently 100%. 👍

Let us pay attention to the progress of this case and see if Lido DAO can successfully dismiss this lawsuit! 👀🍿