MDP-39: MoonDAO Marshall Islands DAO Entity Creation

Abstract

MoonDAO as an entity has rights and can take actions as an entity. It can own land, hire contractors and own IP. However, to exercise most of these rights, it needs to be legally recognized as a legal entity and have a bank account. This proposal would formally establish MoonDAO as a legal entity based in the Republic of Marshall Islands (RMI) as a Nonprofit DAO LLC. The RMI entity would also simplify MoonDAO’s tax obligations as outlined below.

Total Budget: $11,275 Dai

Deadline for the project: November 15, 2022

Read the rest of the proposal here:

https://docs.google.com/document/d/1nwySQEZ92i5NLEMll3bFHPDAze6-5Pfv68THSwOgLJM/edit?usp=sharing

Important note: This project is only to allocate funds to the project and create the documents for the incorporation of the entity -- this proposal is not to vote on becoming a Marshall Islands Nonprofit DAO. Once all of the incorporation documents are completed, we will present the documents to the DAO again and go through our governance process to conduct a final vote to confirm that MoonDAO is agreeing to become a Marshall Islands Nonprofit DAO.