Establish a DAO legal entity and retain a lawyer/trustee
Approved by: c353u.c.wam, rwck4.wam, t1dbe.wamDescription of Proposal
It is recognized that a legal entity is important for the protection of everyone involved when decisions are being made about significant monetary amounts. There is an emerging, but as yet unstandardized, expectation for the legal obligations of a DAO. Regardless of the precise details, the advice of a lawyer should be sought as a top-priority. These funds are being set aside every week (5% of treasury funds)to fund legal entity creation, lawyer fees, and other legal obligations until $20,000 is reached or the council decides to stop adding funds. An account, velesdaolaw1, has been created as discussed by the councilors in the governance channel.
quantity: 11,800.0000 TLM