Great analysis. For us, the existing LLC structure (formed in NV, registered in CA) probably works just fine. At the very least I welcome WY legislature to continue to give DAOs the needed spotlight. Although their approach is flawed and puts unnecessary burdens on the members and managers, I appreciate that they are at least trying to keep WY relevant.

You hit the nail on the head here: "A normal LLC’s operating agreement can easily require that members use a smart contract to perform various functions such as escrowing funds, issuing membership interests and counting votes. It can even provide that the results of the smart contract will be final and binding under most conditions. An example of such a “qualified code deference” approach, which relies purely on normal LLC law and contract law, can be found at https://raw.githubusercontent.com/metacartel/MCV/master/Legal/Grimoire%20and%20Exhibits/MCV-Grimoire-Final-All-Exhihbits.pdf."

Thanks Gabriel for another great newsletter.