LIP-18 Entity Establishment

Authors: Edu, Animositas, Lu, Archangel Date Created: 17th November, 2023

RECOGNITION

A structure as complex as the Lizard DAO is not created in isolation. Multiple community members have been involved in the drafting of the document which include contributors, advisors and community members that participated with critical insight, questions and feedback. Special recognition goes to lawyr.eth and Seagolem. Thanks to every one of you that contributed to this proposal.

ABSTRACT

This document proposes to action the Incorporation of the entities contemplated under the Ethlizards White Paper. If approved, the Lizard DAO Core Contributors would commit to setting up the structures deemed fit for the DAO to operate.

MAIN CHANGES

Incorporating the following DAO entities:

• Creation of a Foundation in which all assets are held and controlled.
• Creation of a Corporation to house the commercial activities of Lizard Labs.
• Creation of a Corporation to house the iGaming functions that arise from the services the Lizard DAO Core Contributors are creating on behalf of Lizard Labs.
• Creation of a Corporation to house Lizcoin related activities.
• Secure a token opinion paper for future Lizcoin listings on Central Exchanges.

The primary objective is ensuring the structures are in place to preserve the assets of the DAO, as well as limit any liability for the team in actioning the directions of the DAO. The key considerations have been anonymity, cost, security of assets, corporate personhood and limitation of liability.

Finances The total cost to set up all of the above listed entities and obtain a token opinion paper is approximately $20,000 USD.

RATIONALE

The current iteration of the DAO is doing well, but has risks for future operations which is stifling the DAO’s ability to expand beyond the current scope to support its core pillars and adequately capitalize on the unique positioning and status the DAO has in the industry.

Establishment of the above entities will ensure the operations of the DAO are adequately catered for and ensure the requisite structures are in place to offer the services the DAO intends to offer into the future.

**Voting Options **

*Yes, approve this proposal *No, deny this proposal *Abstain