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Can I convert an LLC to a DAO LLC?
Can I convert an LLC to a DAO LLC?
Updated over a week ago

Yes, if you already have a US-based LLC you can convert it into a DAO.

To do this, you need to file an amendment to your business’s articles. Your articles must include:

  • A statement that your business is a DAO

  • Whether it is member-managed or managed by an algorithm

  • A change of your business name (see question above for advice)

  • You must have a registered agent in Wyoming and have written consent of appointment by that agent

  • A “Notice of Restrictions on Duties and Transfers,” which states that the DAO Supplement, smart contracts, articles, and operating agreement (where applicable) of a DAO may reduce, define, or eliminate fiduciary duties and restrict the transfer of ownership, withdrawal, resignation, return of capital contributions, and dissolution.

  • An identifier of any smart contract used to manage, facilitate, or operate the DAO must be made publicly available.

Fortunately, forming a DAO is straightforward and relatively inexpensive.

If you want to find out more, you can see the explanatory document here.

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