The LAO
The LAO
“The LAO” is another Moloch type DAO with the “rage quit” concept, which has joined forced with Moloch and MetaCartel. The LAO is designed to work with and serve a legal entity in Delaware, so instead of aiming to be its own independent entity it is being used to serve some functions within a more conventional organization.
The LAO is more secretive with the names for its proposals, and so less can be inferred about what the members are voting on.
The LAO Proposals: Number of voters (Y axis), outcome (colour) and shares requested (size)
The graph shows that The LAO is using the Moloch contracts differently, I assume proposals with large share requests are new members and these have been pre-approved, hence only being voted on by one member to approve them. The votes with 8-20 participants are likely about substantive matters like investments. The LAO has a total of 65 members, $3.7 AUM (Dec 20 2020), and has already spent $4.5M.
For these venture-oriented “DAO”s the DAO is really just a convenient structure to use for handling funds, but secondary to the legal entity in terms of its capacity to make decisions about those funds. Whether these entities are successful depends on whether their members make good investment decisions, but the idea that it is a DAO that’s in charge and that people can engage in this kind of activity through a DAO is far-fetched. In the case of any major issue with these DAOs’ operation, things will proceed according to whatever is written in the legal entity’s specifications and contracts.