FWB DAO Legal Wrapper

Author(s): David Kerr & Derek Colla

Summary

Form an Unincorporated Nonprofit Association ("UNA") around the FWB DAO for the purposes of gaining legal existence; payment of taxes; and limitation of liability for members (while maintaining member anonymity for members who do not receive compensation from the DAO).

This proposal will be live on June 13, 2023 available for voting and will be open for 5 days.

Abstract

Overview

Designed in conjunction with FWB's existing C Corp utilized for its operations, this proposal would form an Unincorporated Nonprofit Association for the purposes of providing legal existence to the FWB DAO for the purpose of paying taxes and improving liability protections to members.

An UNA requires that the purpose of the DAO be nonprofit. We believe this aligns with the mission of FWB to unify artists and cultural thinkers with shared values and incentives.

Association Agreement

The association agreement approved with this proposal is contained here and will be posted on the fwb.help website upon approval of this proposal.

During the course of this proposal, questions received from the town hall and around this proposal were answered in an FAQ linked here.