A lawsuit filed in New York Federal court challenges the premise the legality of PoolTogether, a cryptocurrency savings application that offers crypto savers a chance to win awards from the interest earned by the collected funds, the Wall Street Journal reports. The suit, filed by software engineer Joseph Kent, also questions a tenet of the DeFi community that the protocols are autonomous and self-governed, the WSJ said. This comes as the DeFi market snowballs in size, as collateral on such platforms grow to more than $111B from about $10B at the start of 2020, according to DeFi Pulse. In a court filing, Kenneth Broughei, a lawyer for PoolTogether, explained that the company runs a website providing information for users to access the PoolTogether protocol; it doesn't own or control the protocol, he said. Its operations are controlled by its original coding, which can only be changed by a majority vote of
