Do we have sufficient interest to register the so-called AlgoFi DAO as a DAO LLC?
While the DAO-related US legal landscape continues to evolve, I am concerned that a recent Sep '22 action taken against an unregistered DAO operating in the US (CFTC v. Ooki DAO) could extend similar legal risks to US BANK voters, in particular. Vermont, Wyoming, and Tennessee recognize legal entities custom-made for DAOs w/ various differences, including default fiduciary responsibility in Vermont. For me, a DAO LLC is a must-have layer of protection for voters.
Just yesterday, to move forward with governance plans, Lofty LLC owners began voting on a measure to transition property LLCs to a Wyoming DAO LLC structure for each property. I voted in favor of that measure too, and I hope it will pass. I think it’s even more important for AlgoFi DAO to take such action, but I am interested in hearing any opposing views to registering as a DAO LLC.