🚨 AMA about DAO legal issues 🚨

(Not a lawyer, therefore not legal advice! Business people are allowed to have opinions about legal issues.)

፨ Legal Entities for Web3 & DAOs 🎙️Host of Just DAO It! Podcast & /daos Channel 💼 Founder of MIDAO 🟪 Purple 🏴 bDAO nf.td/thethriller

building /cabin (cabin.city). founder of LBRY.com, odysee.com, vibe.camp, /farcon. more at grin.io

Extremely tightly, but they don’t have to be forced. Organizations are already allowed to make decisions however they want, including using digital tools like live votes over a video call or voting by email or PDF. The harder part is membership tracking, because it traditionally required names and addresses.

How tightly can you force the US legal system to respect onchain governance?

I am one with the dark foofs, Florida represent, /donothing /f1 /foofees enjoyer. Formerly: 终端浪人, cute/acc

One category of DAOs are digital associations of all kinds (homeowner or otherwise).

By bringing membership tracking, governance, treasury, and software control on-chain, orgs of all kinds (associations or otherwise) will benefit from the increased efficiency, scalability, transparency, and compliance.

Would you call a DAO a digital HOA in essence? Basically a group of 5 that can dominate the masses…

Yes being a bit sarcastic here, but want your hot takes on the validity of DAO’s moving forward.

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Depending on what you mean by legitimize… the ability to get bank or other tradfi or government accounts? being respected and trusted by investors, customers, etc?

Delaware C-Corps would solve those problems but also force you into a corporate structure that’s not very DAO friendly eg requires a board & officers.

I also don't recall any lawyer or expert recommending Delaware C-Corps for DAOs in the past couple of years. I think most lawyers and experts are excited about LLCs, DAO LLCs, Cooperatives (e.g. Colorado LCA), and UNAs in the US, then in Foundations and DAO LLCs abroad.

Are Delaware C-Corp wrappers still the best way to legitimize DAOs in the States?

That depends on a lot of things about the assets being bought, how they are sold, and every country’s laws where people buy them