Met with Michael and looked at some of the reasons an USA based LLC is attractive if you’re not based in the USA… learned something new!
More stuff to consider
Otoco loads the required information (i’m assuming wallet IDs) on chain - the actual PDFs related to the entity are not particularly relevant anyhow…
Need to ingest the a list of wallets from within the DAO so that they can vote themselves in to a legal DAO?
Assign the new company a wallet regulated by the governance of the DAO?
Be prepared for producing audits as needed with proper connections to wallets?
Longer term we would like to know whether having an Otoco app in Aragon would be reasonable and if so how we could provide safeguards so that people don’t end up getting the wrong type of legal infrastructure and incurring liability?
Can we also start to consider next steps for DAOs that are looking to leverage legal wrappers? How can we help DAOs handle insurance, taxes, etc in a safe way?
Go to client.aragon.org on rinkeby and create a new membership DAO
1 1 vote per person, transfer of token not allowed
2 Could we do this with the reputation template too? does weighted vote matter if we do something like a 100% threshold on quorum for the LLC vote?
Load all the members and set the quorum at 100% required * (tayy?)
Create LLC on Otoco with same members
Get a transaction ID from Otoco with a resulting blockchain reference to the wallets
things to consider:
a script for automation with a whitelisted membership
KYC options - can we handle this in Aragon? = big question, needs larger review
reputation and company templates - what would these imply