The Developer DAO Foundation
The Developer DAO is represented in the real-world by a Cayman Islands Foundation. This pages is an overview of how this relationship between the DAO and the Foundation works.
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The Developer DAO is represented in the real-world by a Cayman Islands Foundation. This pages is an overview of how this relationship between the DAO and the Foundation works.
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Borrowing from our friends at ENS DAO, having a legal entity representing the DAO in the “real world” is valuable for several reasons:
It provides limited liability to DAO participants for the actions of the DAO. Without a legal entity, participants may be individually held liable for anything the DAO as a whole does.
It is capable of complying with taxation requirements. Without a legal entity, DAO participants may be held liable for a proportion of the DAO’s income, even if they cannot access these funds.
It can enter into contracts with other “real world” entities, holding assets, etc.
Check out this excellent blog post for a more detailed discussion.
Successfully delivering on our mission to “accelerate the education and impact of a new wave of web3 builders” requires interfacing with the real world. A Cayman Foundation not only provides us with an entity, but its structure supports our membership's diverse and global nature, the philanthropic spirit of our mission via tax neutrality and the added peace of mind of defined regulation related to crypto tokens within which we can operate.
For transparency, important documents relating to the Foundation can be found below, and they're also hosted on our Github here.