If I already have an LLC, can I convert it to a DAO?

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

Conversion Process

To convert your existing LLC to a DAO, you need to file an Amendment to Articles of Organization with the Wyoming Secretary of State.

What Your Amendment Must Include:

Your amended articles must contain the following information:

Statement of DAO Status

• A clear statement that your business is now a DAO

Management Structure

• Whether the DAO is member-managed or managed by an algorithm

• If algorithmically managed, include a statement describing to what extent

Name Change

• Your business name must change to include "DAO," "LAO," or "DAO LLC" along with an LLC designation (see our article "How do I name my DAO LLC?" for details)

Wyoming Registered Agent

• You must have a registered agent in Wyoming with written consent of appointment

Notice of Restrictions on Duties and Transfers

• A notice stating that the DAO Supplement, smart contracts, articles, and operating agreement (where applicable) may reduce, define, or eliminate fiduciary duties and may restrict the transfer of ownership, withdrawal, resignation, return of capital contributions, and dissolution

Smart Contract Identifier

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

Filing Details

• Filing Fee: $50
• Timeline: 1-2 weeks for processing\
• Required: Only Wyoming LLCs can convert to Wyoming DAO LLCs

Why Convert?

Converting your LLC to a DAO structure provides legal recognition for blockchain-based governance while maintaining limited liability protection. It's straightforward and relatively inexpensive compared to forming a new entity.

For more information, you can review the Wyoming Secretary of State's explanatory document.

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