Apr 23, 2021Liked by Gabriel Shapiro

Anyway we can get this opened up for sharing or perhaps issued on another forum (maybe lexdaoism) after some time. The circular positive platitude sharing about the DAO law without objective criticism is making me naseous.

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okay, I made it public = )

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Great analysis.

For us, the existing LLC structure (formed in NV, registered in CA) probably works just fine. At the very least I welcome WY legislature to continue to give DAOs the needed spotlight. Although their approach is flawed and puts unnecessary burdens on the members and managers, I appreciate that they are at least trying to keep WY relevant.

You hit the nail on the head here: "A normal LLC’s operating agreement can easily require that members use a smart contract to perform various functions such as escrowing funds, issuing membership interests and counting votes. It can even provide that the results of the smart contract will be final and binding under most conditions. An example of such a “qualified code deference” approach, which relies purely on normal LLC law and contract law, can be found at https://raw.githubusercontent.com/metacartel/MCV/master/Legal/Grimoire%20and%20Exhibits/MCV-Grimoire-Final-All-Exhihbits.pdf."

Thanks Gabriel for another great newsletter.

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Apr 10, 2021Liked by Gabriel Shapiro

Ha, tell us how you really feel. Great post and it does appear that this is worse than nothing at all, unfortunately.

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