PIP #22 - Budget Application for Legal Advisory Fees

Abstract

Given the recent significant shift in the Pendle ecosystem from vePENDLE to sPENDLE, Penpie needs to conduct a comprehensive legal assessment regarding its new development directions. This proposal aims to request a budget of up to $50,000 to hire a professional legal team to conduct compliance reviews of the protocol’s transition and several subsequent plans, ensuring that the protocol’s operations comply with regulations and protect the interests of all DAO members.

Motivation

With the conversion of vePENDLE to sPENDLE, the Penpie protocol is currently at a critical stage of exploring new strategic directions. To ensure the long-term operation of the protocol and the robustness of the new plans, we believe it is necessary to introduce professional legal advisory services for the following reasons:

• Compliance Review: Conduct legal analysis for several new development plans derived from sPENDLE to ensure they meet relevant regulatory requirements.

• Risk Management: Mitigate potential legal risks by having professional lawyers review past and current protocol architectures.

• Protection of Member Interests: Maximize the protection of the long-term interests and asset security of DAO members through a compliant operational framework.

Specification

1. Budget Ceiling: Maximum total application of $50,000.

2. Use of Funds: Limited strictly to legal consultations, compliance advice, and legal representation fees related to Penpie’s transition plans and the exploration of new sPENDLE directions.

3. Transparency Guarantee:

• After all legal fees are paid, official receipts or invoice copies will be uploaded to the forum for community inspection.

• If the actual legal fees incurred are less than $50,000, the remaining budget will be fully retained or returned to the Penpie Treasury.