The Otonomist - September 2022 Issue

OTOCO DEVELOPMENT UPDATE

§ 2Upfit your LLC: OtoCo now lets you form and govern a Multi-Member LLC onchain, using mirror tokens to represent Members' ownership rights

In mid-2020, OtoCo pioneered onchain LLC formation, using Ethereum smart contracts to create Single Member-Managed LLCs natively on blockchain.

In mid-2021, we enabled ownership of LLCs by a DAO’s multi-sig on Gnosis Safe.

A natural progression from here was for a Single Member to invite more Members, turning their LLC into a Multi-Member LLC.

In this design, each of the Members see their ownership stake mirrored in the amount of tokens they hold, hence we speak of “mirror tokens”. Since blockchain by its nature keeps track of who holds mirror tokens, Members get free captable software thrown in, courtesy of Ethereum!

Upfitting an existing LLC into a Multi-Member LLC or forming a new one also activates a new governance smart contract that coordinates between all owners in your LLC and delegates specific powers to its Manager.

With this code push, OtoCo is giving its users more tools to build and further compresses the time and cost of getting started with your Web3 project.

Quoted from the entry

“Read more about the Multi-Member LLC, how to upfit an existing LLC or form a new one on OtoCo, and who should use it.”

— Otonomos, 29 September 2022

Read more

UNBOUNDED THINKING

§ 3From Violence to Volition: Bootstrapping New Nations on Blockchain

In this fictitious dialogue, Alice and Bob, both of early crypto fame, explore issues around startup nations and sovereign digital realms, after reading Balaji’s book on The Network State.

Written as a free flowing conversation, this post touches on the desirability of experimentation in nation building, why blockchains are the enabling technology for such experimentation, and why people would want to join a network state.

We close with an idea for “educational archipelagos” as one example of a possible network state.

Quoted from the entry

“Read Alice and Bob’s entire conversation here .”

— Otonomos, 29 September 2022

Read full post

OVER AT OTONOMOS

§ 4Otonomos further automates the formation of analog companies by adding a new entity staging engine to its online client dashboard

Next week will see a major upgrade of the Otonomos website, adding a new entity staging engine within the client login section of our website.

Clients who ordered a new entity from Otonomos, initially a U.S. LLC, will now be able to stage their entity and push it live after submitting their information securely online, without the need for any offline form filling or signing.

Over the next months, more jurisdictions including offshore entities will be added to the staging engine.

This marks a further step towards automation of analog entity formation and maintenance by Otonomos.

Read full guide

OTOCO GOVERNANCE

§ 5OTOCO token holders can now participate in OtoCo’s first community votes using its new governance forum

Last month, in the OtoCo Governance Introspective, we announced that OtoCo would organize its first three community votes by the end of September.

Voting its now open and is set to close at midnight UTC, Tuesday 4 October 2022.

Anybody who holds OTOCO tokens can participate. Join our governance forum today!

Participate here

ANNOUNCEMENT

§ 6¡Nos vemos en Bogotá!

Meet our LatAm devs and Han at DevConVI in Bogotá between 10 and 15 October.

Quoted from the entry

“Just DM @Otonomos on Telegram or find us on Discord , or join the official Road to OtoCo Telegram channel to connect and meet.”

— Otonomos, 29 September 2022

We’ll swap ideas and swag!

Join the OtoCo telegram

> Next month,The Otonomist*will take a closer look at regulatory actions and reactions from the Tornado Cash case and the Ooki DAO charges, with a guest blog by a leading crypto rights attorney.  As always in your inbox or online on the last Thursday of the month.