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MakerDAO Launches $5M Legal Defense Fund

According to a new social post on Feb. 1, Maker decentralized autonomous organization, or MakerDAO, has approved the creation of a new fund dedicated to expenses related to legal defense. 

MakerDAO is the issuer of the DAI United States dollar stablecoin. As told by developers, Maker will allocate 5 million DAI to "reimburse legal defense expenses in case of legal or regulatory action against specific participants of MakerDAO." 

In explaining the decision, developers pointed out that such costs couldn't be "transferred through traditional insurance." The MakerDAO Defense Fund will therefore serve as a self-insurance tool for its participants. On the other hand, the pre-existing DAI foundation fund is used to take action against third parties that infringe on Maker's intellectual property.

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