The Otonomist - April 2023 Issue

OTONOMOS

§ 2Countdown to 31 May: We’re freeing up equity in Otonomos to let our users and community purchase shares online, on favorable terms, and in crypto

As you’d probably expect from us, we wanted to go about our first external capital raise in a different way:

1. Clients and community get first dibs

First, we wanted to give our clients and community first dibs by offering them early access to our raise on the most favorable terms.

2. Fully online

Second, we built our own funding platform so investors can complete the process entirely online, from registration to legal documents to subscription payments.

3. Fully compliant

Third, to comply with securities laws as they stand, we’re limiting our offering to existing clients and pre-existing contacts of Otonomos who self-accredit online.

4. Fully transparent

No side letters, no favoritism, no backroom deals: for approved users, our online platform shows the status of the fundraise in realtime and gives full transparency on deal terms and cap table.

5. Fully tokenized equity payable in crypto

We’re tokenizing our equity by giving investors mirror tokens that map their rights to traditional legal round documents.

And one more thing: in addition to fiat, all subscriptions can be paid for in crypto.

Thanks for carrying us!

You as an early user carried Otonomos as crypto’s homegrown company assembler and corporate service provider.

That’s why we decided to give you a genuine carry in our growth and eventual exit, an upside that too often is only available to professional investors and Venture Capital.

In doing so, we hope we can beat a path towards user-owned companies and develop the online tools for others to do the same.

Quoted from the entry

“Pre-register now to unlock the best terms when we open our round at 9 a.m. Pacific Time on Wednesday 31 May 2023.”

— Otonomos, 27 April 2023

Pre-register HERE

OTOCO

§ 3The Swiss Foundation is dead. Long live the Swiss Association - now onchain on OtoCo !

OtoCo is very happy to introduce the blockchain-native Swiss Association, its first onchain limited liability entity outside of the U.S.

For only US$99 equivalent in ETH (+ transaction fees), you can now instantly summon and activate an association in the Canton of Zug and manage it fully onchain on OtoCo.

You get a timestamped NFT as its cryptographic birth certificate and a downloadable PDF which gives your onchain entity a realverse legal anchor.

With this new onchain limited liability entity, OtoCo provides the Web3 community with an extra legal lego outside the United States, at a time when many crypto teams are considering setting up shop abroad.

In this post, we first look at the characteristics of a Swiss association and its potential as the umbrella for decentralized projects and DAOs.

We then contrast the Swiss association with the Swiss foundation.

Finally, we guide users through the simple association creation process on OtoCo.

Quoted from the entry

“Test drive an association on testnet now or connect with a mainnet wallet to summon your blockchain-native Swiss association on OtoCo today !”

— Otonomos, 27 April 2023

Read full post

FOUNDER’S NOTE

§ 4Should I Stay or Should I Go if I am in Web3 in the U.S.?

Stranger things are happening in crypto in the U.S.: operation Shutcoin or just regulatory inertia, recent developments are rather inexplicable.

Should you stay our should you go if you're a US-based Web3 entrepreneur or investor? Where is good to put a hedge in place or buidl from?

Just ask us and other users of Otonomos via our official Intel Swap channel on Telegram or book a FREE 30 mins initial call if you want to examine your options for building from outside the U.S.

Book FREE 30 mins call

NEXT MONTH

Next month’s issue of The Otonomist will be entirely dedicated to the Otonomos online fundraise, with full details on deal terms and structure, funding stages and pricing, and a step-by-step guide how to invest. In your inbox on Wednesday 31 May.