Odaily News: Abracadabra DAO, the governing body behind DeFi tokens Magic Internet Money and Spell, has announced a proposal for a legal framework to transition from a decentralized structure to a more centralized one.



According to a post by the project lead on the forum yesterday, the proposal suggests appointing a trustee or lawyer specializing in intellectual property to protect the DAO's trademarks and manage server expenses, while key decisions will still be governed by Spell token holders.



The post states that currently, the Abracadabra protocol relies on community members for privately-funded hosting and domain name services. However, this decentralized structure poses challenges in terms of intellectual property protection, as seen in the previous migration of the DAO blog due to "unfounded copyright claims."



The proposed plan to "transfer power" to a centralized entity will be determined through a multi-stage voting process involving Spell token holders. The first stage involves selecting the jurisdiction for the new entity, with proposed options including Switzerland, Singapore, Malta, and Bermuda. Subsequent stages will aim to define the role and operation of the new entity before the final vote. (The Block)