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tx fd4d6002f3e8…d7d43ablock #475,194,706time Sat, 27 Dec 2025 22:26:06 GMT
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After evaluating several law firms and holding meetings with the two most suitable candidates, 1DEX (bp.1dex), Detroit Ledger Technologies (eosiodetroit) and BlockzHub (eossupportbp) reached consensus to recommend Restored Law (Rick Tapai) as legal counsel for the Vaulta Stewardship Trust structure.


# Selection of finalist firms

We engaged multiple firms with experience in Trust setups, digital assets, and governance-related structures. Several firms either quoted fees that were materially higher than expected for the scope required, or were unable to engage meaningfully within our timeline—particularly given the Christmas and year-end holiday period. Based on responsiveness, cost alignment, and initial understanding of our requirements, Restored Law and Rimon Law emerged as the two strongest candidates and were advanced to deeper discussions.


# Rationale for the final decision

Restored Law demonstrated the strongest understanding of our MSIG-first design and Trust/LLC legal wrappers, including clear acceptance that on-chain MSIG decisions must be legally binding off-chain, with trustees and managers acting strictly as executors rather than discretionary decision-makers.

They are comfortable and have direct experience implementing the more unconventional elements of our structure (no beneficiaries, no independent budgets, and tightly constrained authority) under Texas law, without attempting to reshape the governance model into a more conventional framework. They also provided clear, statute-based guidance on multi-trustee configurations, cross-state trustees, and banking controls, which helped reduce ambiguity and execution risk. Restored Law also has a 10 year history of specifically working on blockchain related legal matters and actively participates in industry conferences as a thought leader.

Rimon Law also brought meaningful strengths to the table. As a larger and more established firm, with an office located within driving distance of other transition group members, they offered the advantage of easy in-person access and broader institutional depth. However, their core expertise is more heavily oriented toward transaction-related legal setups rather than the specific Trust establishment and constrained-governance model required here. In addition, their proposed fees were more than twice those of Restored Law for comparable scope, which was difficult to justify given that much of the governance framework is already defined.


# Practical considerations

From an execution standpoint, Restored Law can move quickly and work in phases, allowing us to secure assets and reduce single-point-of-failure risk sooner. Their scope and cost are well aligned with disciplined use of network funds, particularly at this early stage where the objective is clean implementation rather than expansive legal redesign.

Importantly, this decision does not lock the network into using a specific law firm for all future legal and representation needs. Given that the scope of the work is limited to the creation of the VST and assisting with determining appropriate vendors for services required by the VST, it would not be prudent to select a large firm simply because they have a national and/or global presence at this time.

If more additional litigation, regulatory, or transactional needs outside of the current scope arise later, we can replace Restored Law as the legal counsel or layer in additional legal firms as appropriate. For the immediate goal—establishing the Trust/LLC and enforcing MSIG authority clearly and efficiently—Restored Law is the best fit.


# Next step: Zoom call with the Transition Team Volunteers

Once Restored Law is fully briefed and aligned, we will schedule a Zoom call with the Transition Team Volunteers. The purpose of this call is to ensure everyone hears the same information directly from counsel, ask clarifying questions, and align on the legal structure and execution path. Legal counsel will be prepped in advance to keep the discussion focused and avoid confusion or off-track debate.