Legal wrappers with otoco.io

[alibama]

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!

Why it is attractive to own a company in the U.S., especially when you're not...

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?

[alibama]

Plan A:

1. 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?

2. Load all the members and set the quorum at 100% required * (tayy?)

3. Create LLC on Otoco with same members

4. Get a transaction ID from Otoco with a resulting blockchain reference to the wallets

5. Use https://evm-crispr.blossom.software/ to link this reference?

6. [Notion – The all-in-one workspace for your notes, tasks, wikis, and databases.] between all of these solutions something should give us a UI?

DAO & LLC now linked…

7. Create a new token for action oriented work - set governance and quorums to more efficient levels (Aragon organizations: permissions workshop - YouTube)
8. ???

[alibama]

Process option =
steps for Anson & ony

1. create Rinkeby DAO membership
2. connect frame.sh to DAO
3. go to ototo.io and register Rinkeby Delaware llc?

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

Put this in to dework with Spectra

[alibama]

fwiw discussing implementing this strategy with a legal entity related to sawmills

Charlottesville sawmill dao

I’m buying a sawmill with a couple of friends. We want to coordinate an LLC and a DAO so that when we sell wood for crypto we can vote on what to do with the proceeds (like buy insurance and pay taxes… yeee-haaa). We did some similar work a couple years ago, and now i want to replicate the process in a more open-source-for-profit way, so we’ll keep track of the wood we mill, and our expenses, and keep that data as public as possible. We are working with Otoco.io to orchestrate our on-chain …

also

onboarding and training project | Dework dtech bounties related to training

[alibama]

Met with Otoco again - ideas that came up to include in bounty production

1. Show how new members may be added through governance token
2. Show how current members may be removed through governance token
3. Connect to a bank account? Wise wise.com, Mercury https://www.mercury.cash/ or maybe a local community bank?
4. Connect to a credit card? (c14.money raincards.xyz)
5. Discuss a secondary liquidity token for use with uniswap?
6. Buy insurance?
7. Start looking at tax process conveniencing?