Legal Game Changer….Kali DAO
There's a new DAO application in town, and it is a legal game-changer. Its name…Kali DAO, and according to its Twitter profile page, Kali DAO aims to "Launch DAOs with Legal Benefits in Seconds."
First, some background. In my first story, "A simple startup to search for Decentralized Autonomous Organizations (DAOs)," I stated that I wanted to start a DAO, but:
“The legal fees to create the bylaws alone would be significant. So at that point, I stopped and thought it would have to be “bootstrapped.” I would have to come up with another idea to help the community first. By doing this, I would grow a network and be able to leave that project utilizing an “Exit to Community” strategy (or starting a DAO).”
That's where the List of DAOs came from. A project created to help form a network and help with a problem I saw (no simple website to search) as I started my journey DAOwn the rabbit hole. (DAO puns gotta love them!)
With support from other DAOs (LexDAO), Kali DAO creators have come in guns a-blazin' with their new application. They have sent a message to the DAO world that they are simplifying the legal structuring of DAOs, potentially solving a significant hurdle many founders (like myself) face.
Their products offer "…end-to-end tokenization, voting, and legal support such as LLC formation and agreement drafting software," making it easy for DAO startups to form a structure that may* help members limit their liability. (*I am not a lawyer, this is not financial or legal advice, consult your own lawyer, see disclaimer below).
And they just started! So far, four types of agreements are available (Wyoming DAO LLC, Delaware DAO LLC, Unincorporated Non-Profit Association, and Investment club). Additionally, Kali DAO offers easy-to-use templates or allows users to customize their DAOs to their liking.
Things will change with the new sheriff in town, and I look forward to seeing where the project goes and what other legal structures will be available in the future (maybe co-ops?).
Finally, Buzz says, "To infinity and beyond!"
Decentralist.com is a directory 🗒 for decentralized resources. It includes resources such as the List of DAOs, List of DAO Tools, List of NFTs, Web3 Book Club, and the Decentralized Diary. Visit our website at www.Decentralist.com or follow us on Twitter @decentra_list.
The content is for informational purposes only. Nothing in this article constitutes investment advice, a solicitation, recommendation, endorsement, or offer of a security, token, NFT, or application to a DAO. This is not investment or legal advice. Please do your own research.
References:https://docs.kalidao.xyz/faq/#what-is-kali
https://twitter.com/_KaliDAO
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