As part of ongoing research and engagement between various parties across the DeFi space I would like to highlight some points made by @lex_node from MetaLeX Labs which has offered valuable perspectives that could streamline a way forward, in my view offering some clarification in how the DAO could proceed, thus I want to thank and acknowledge him as a special friend of ParaSwap.
Below are some of the topics discussed as potential requirements for PIP to pass:
Ensure Proper Cost Recovery – Account for governance-related efforts and the due diligence required in this process.
Secure Legal Release & Indemnity – Obtain a formal agreement from Bybit to eliminate any future liabilities for the DAO, as seen in the MangoDAO case, is that courts have acknowledged the enforceability of agreements related to fund recovery, even in cases involving bad actors. This precedent highlights the importance of securing a legal release and indemnity as a necessary condition for returning funds, ensuring the DAO remains protected from future claims.
Verify the Receiving Party
@SEEDGov
Before expressing our opinion on the proposal, one issue that raises concern for us is how we can verify that the Bybit account that made this post genuinely belongs to the official Bybit and that the wallet in question is officially owned by Bybit.
Once these steps have been completed and PSP community happy with overall direction, the DAO could attempt drafting a structured approach to execute the return of funds in a secure, transparent and legally sound manner.