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Chaitenya Gupta
@chait
Introducing: Entity Formation Frames 🖼️ Spin up an onchain LLC, starting at just $49 - select your jurisdiction, and incorporate! @hanverstraete.eth and I have been wanting to bring this to the farcaster community as “spontaneous” entities Tx's ⚡ by: @base 🔵 https://frame.otoco.io/api
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grin
@grin
I only incorporate in ways @thethriller approves of What’s the verdict here?
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Chaitenya Gupta
@chait
We don’t do DAO LLCs yet but you can spin up an LLC (Series) using otoco.io in DE, WY, and Marshall Islands You can manage using dashpanel, request an EIN/Tax ID, open a mercury bank account. With over 1200 entities created we are only just getting started! Happy to answer any specific questions you have?.
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Based Fella
@akumara
So I made a offshore llc afew years ago thru a company for around $3000 usd for tax purposes and to create accounts with stripe, wise, etc Are you saying that with this I can do it myself, on-chain, and for a fraction of that cost?
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Chaitenya Gupta
@chait
Yes, exactly that. We have had successful account openings at mercury.com, stripe, wise.com with these onchain LLCs. You get your operating agreement in your dashpanel and all plugins required to maintain your LLC. Or you can simply use our onchain smart contract based plugins
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Connor McCormick ☀️
@nor
What is a plugin?
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Chaitenya Gupta
@chait
Once you create your LLC you can manage it on otoco.io We have: Analog plugins: Getting an EIN, opening a bank account etc Smart contract plugin: @safe as a company wallet, signing documents using a wallet, tokenizing your entity etc
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Based Fella
@akumara
How about SS4 and Certification of members? I'm still learning and researching LLCs, Series LLCs, but i want to utilize this as much as possible!
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Han
@hanverstraete.eth
SS4 for an EIN you can order as a plug-in within the OtoCo dash or free online from IRS site if you're US-based. Members can be added by simply pasting in their wallet via the Multi-Member plugin, which turns your Single Member/Manager Series LLC into a Multi-Member and maps to a new Operating Agreement in the dash.
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