Interested in becoming a member of The LAO? Sign-up now before we open up a public call for capital in late February.
Ethereum is rebuilding the commercial world, lowering the cost of creating digital assets, pooling them, and allocating them to third parties. These commercial “lego blocks” are poised to rebuild the way organizations operate. The industrial era birthed the joint-stock company, a legal construct that helped fuel tremendous innovation and global growth — one that some have credited as being one of the most important innovations ever invented.
The blockchain era will be defined by decentralized organizations and DAOs, an evolution of the joint-stock company and one fashioned for open decentralized networks and not top-down, command and control companies. One of the expressions of this possibility is the creation of a truly open and permissionless Silicon Valley — one no longer constrained to one state, one nation, and a handful of global cities.
The LAO is the next great experiment in this endeavor. The LAO is resurrecting The DAO in a way that aims to comply with US law, building a democratically managed decentralized organization that can invest in blockchain-based projects in a snap, through the LAO’s dapp and extensions to MolochDAO’s smart contract code.
Becoming a Member
The LAO is several weeks away from launch and interested parties can now pre-register to join as members and learn more about its structure in our newly released docs. In terms of structuring, The LAO will be organized as a limited liability company that delegates many of its management rights to smart contract and associated dapps. It will be wrapped by traditional legal documents that limit liability of members and address many of the risks that may develop amongst members as members operate via the DAO.
For legal and practical reasons, membership in initial The LAO will be limited. Up to 100 accredited investors will be able to pool their capital and join as members through a public sale that will occur in late February.
Membership in The LAO will be provided on a first-come-first-serve basis. Each member can purchase 1% blocks of LAO Tokens for $25,000 (up to 9% for $225,000) through a public sale that is slated to occur in late February.
The LAO and other for-profit DAOs are important for the development of the Ethereum ecosystem. We will not be able to rebuild the commercial world without the ability to pool and direct capital efficiently.
Let’s come together and build this future. If you’re interested in becoming a member of The LAO, you can pre-register here. Once completed, you’ll be a leg up in securing your spot, by verifying that you are an accredited investor, when membership opens up.
If you have any questions, check out our docs, which cover questions about The LAO’s structure and operation, or hit us up via email or telegram. Once you’re verified, we’ll also shoot you over all the relevant docs.
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