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Han

@hanverstraete.eth

80 Following
127 Followers
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Han
@hanverstraete.eth
Announcing "What Wilson Heard", my new blog of sorts to hear myself think as "recidivist founder" https://paragraph.xyz/@hanverstraete.eth/what-wilson-heard
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Han
@hanverstraete.eth
https://docs.fileverse.io/frame/0x85aBe3Ec85e8f3378CA503E09A1488dEd94f20e0/0?key=TlBUpRwNctmJAdfrYK_84YHM-NSy-v886nAbP8i1yzmd4mxHi74wfbjgbHudnbkI
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Han
@hanverstraete.eth
OtoCo lets anybody with a wallet become a business owner. Just like we're supposedly only using 20% of our individual brain, humanity is only using a fraction of its collective ingenuity: many people simply can't become economically active. With OtoCo, you only need a phone with a wallet to start building, from wherever you are.
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bleu.eth
@bleu.eth
Im incorporating my next comany onchain with otoco.io probably, whenever that need comes
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Vinay Vasanji
@vinayvasanji.eth
It's one of the few times that I've genuinely felt that a product is magic https://warpcast.com/vinayvasanji.eth/0x73389f4a
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Vinay Vasanji
@vinayvasanji.eth
I just executed the acquisition of member units in my LLC entirely onchain /base No lawyers No manual signatures or annoying PDF signatures No waiting for wire transfers OtoCo.io is amazing
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Han
@hanverstraete.eth
Warpcast is not the place for fine nuance. However simplification for the purpose of getting the community to do further investigation is not the same as intentionally trying to mislead them as you seem to imply. When you cast about the DAO LLC in RMI are you dissecting all the ins and out of the 3% tax that applies?
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Han
@hanverstraete.eth
Adam for all intents and purposes it's an LLC the Master is not a Member of any of the Series so they're stand-alone in that they have their own asset and liabilities and are protected from whatever may happen to the other series and with the master itself.
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Han
@hanverstraete.eth
I blogged this from Miami https://newsletter.otonomos.com/p/cripto-o-muerte-the-crypto-currency?r=6e69&utm_campaign=post&utm_medium=web&triedRedirect=true
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Han
@hanverstraete.eth
"Companies as code" because (1) companies are a bundle of contracts and (2) smart contracts are contracts.
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Han
@hanverstraete.eth
"Push a button to start a company" is now a reality, from within Frames or via otoco.io. Let's have software eat company formation as one of the last remnants of legal ritualism which has remained essentially unchanged since the late 18th Century.
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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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Han
@hanverstraete.eth
Company formation is the last bastion of 19th C analog ritualism! It's one big hidden pocket of rent-extraction ready to be eaten by software. And much of actual company incorporation work is still mediated by lawyers (and filed by para-legals in the basement of their expensive offices) who run the ultimate fee racket
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Han
@hanverstraete.eth
Not worse just different: 1. Signing for entity creation via smart contract vs. analog contract is frontier tech; 2. Protected Series LLCs (vs. Registered ones) don't show up on State Registry's website; 3. Series LLCs not universally recognized e.g. California doesn't have them but recognizes out-of-state ones.
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Han
@hanverstraete.eth
Indeed ser and with full legal validity!An onchain Marshall Islands LLC will cost you USD 149 equivalent in crypto on otoco.io which gets you an instant onchain limited liability container for holding assets, building, investing, pooling funds, etc.
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Han
@hanverstraete.eth
1. Faster: "Protected" Series are instant: they don't require filing vs. "Registered" Series which do; 2. Cheaper: Series don't need to pay for their own registered address and annual fees; 3. Better: OtoCo users natively spin up & control their entity DeFi-style vs. analog paperwork and offchain rails for legacy LLCs
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Han
@hanverstraete.eth
The Master is an empty shell put in place purely to give the Series a registered office and to pay the annual fees on behalf of all Series. But if the Master were to be dissolved the issue would not be any different from an analog Series: You'd just register it and appoint a new filing agent.Your Series remains intact.
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Han
@hanverstraete.eth
OtoCo users create an entity by contracting with a Master and benefit from the registered address of that Master in the chosen jurisdiction, because validly constituted legal entities indeed always need a reg office where they chose to be based.
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Han
@hanverstraete.eth
You get a Series LLC in either WY, DE or Marshall. Series are eg what AngelList uses for their roll-up funds. They get spun up by entering into a contract with a Master. Each Master LLC is registered in eg Delaware under DE Law. Each individual Series is not as such registered in Delaware but is created under DE law.
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Han
@hanverstraete.eth
In our approach to life nobody should ever hold anything in personal name and OtoCo gives you instant, onchain limited liability containers
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