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Legal Guild Weekly Meeting with special Guest - June 1st 2021

Date

Type

Attendance

Note-taker

Created time

Jun 1, 2021

Last edited time

Jan 23, 2022

Last edited by

Text

Notes

In the first part of the meeting, the Guild addressed the issue of setting up a legal entity for the Bankless DAO and the relationship with the Bankless LLC. Members of the Genesis Team took the word and explained that it had been initially planned to set up an LLC as a Spin-off of the DAO.
The discussion went on. The question of the potential non-profit nature of the Spin-off company was mentioned by some members. In this regard, it was said that also a Swiss foundation or an association would be a viable option.
The Guild expressed also some thoughts about already existent DAO governance systems as the Moloch DAO.
Eagle explained his view about the need of presenting a forum post on the different options that the DAO may face: US based LLC, Switzerland, nothing at all!
Then Kevin Owocki dropped in the Legal Council. He explained the motivations of creating a Gitcoin DAO and explained the basics of the governance structure.
As to the legal issues, he declared that the situation was still uncertain. Nevertheless, the prevailing idea seems the one of creating in the future an LLC as a Spin-off company of the Gitcoin DAO.
With regard to the remuneration systems, Kevin told that Gitcoin uses different strategies: bounties, special funding requests
Kevin left the room. 
rotorless came out with a new proposal: starting a kind of thinktank of legal interpretations concerning the DAO and the legal nature of the BANK tokens. This would possibly lead to a benevolent narratives for the DAO and anticipate legal interpretations that may be detrimental for the DAO. The function of these DAO-definitional narratives is to create an anchoring mechanism for future dealings with potential regulatory or judiciary bodies. A "define yourself" approach, rather than trying to anticipate and/or respond to existing or potential legal frameworks (i.e. Wyoming DAO LLC) proposed by non-DAO persons or bodies.
This would give a new function to the Legal Guild that could become a kind of point of reference for crypto-legal issues.
The dissemination of the work could take form as a poadcast or an article. Writers Guild would support the editing work.

Legal Guild Weekly Meeting with special Guest - June 1st 2021

Date

Type

Attendance

Note-taker

Created time

Jun 1, 2021

Last edited time

Jan 23, 2022

Last edited by

Text

Notes

In the first part of the meeting, the Guild addressed the issue of setting up a legal entity for the Bankless DAO and the relationship with the Bankless LLC. Members of the Genesis Team took the word and explained that it had been initially planned to set up an LLC as a Spin-off of the DAO.
The discussion went on. The question of the potential non-profit nature of the Spin-off company was mentioned by some members. In this regard, it was said that also a Swiss foundation or an association would be a viable option.
The Guild expressed also some thoughts about already existent DAO governance systems as the Moloch DAO.
Eagle explained his view about the need of presenting a forum post on the different options that the DAO may face: US based LLC, Switzerland, nothing at all!
Then Kevin Owocki dropped in the Legal Council. He explained the motivations of creating a Gitcoin DAO and explained the basics of the governance structure.
As to the legal issues, he declared that the situation was still uncertain. Nevertheless, the prevailing idea seems the one of creating in the future an LLC as a Spin-off company of the Gitcoin DAO.
With regard to the remuneration systems, Kevin told that Gitcoin uses different strategies: bounties, special funding requests
Kevin left the room. 
rotorless came out with a new proposal: starting a kind of thinktank of legal interpretations concerning the DAO and the legal nature of the BANK tokens. This would possibly lead to a benevolent narratives for the DAO and anticipate legal interpretations that may be detrimental for the DAO. The function of these DAO-definitional narratives is to create an anchoring mechanism for future dealings with potential regulatory or judiciary bodies. A "define yourself" approach, rather than trying to anticipate and/or respond to existing or potential legal frameworks (i.e. Wyoming DAO LLC) proposed by non-DAO persons or bodies.
This would give a new function to the Legal Guild that could become a kind of point of reference for crypto-legal issues.
The dissemination of the work could take form as a poadcast or an article. Writers Guild would support the editing work.