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Legal integration with Otoco
Because sometimes you have to live in the real world. This is a tutorial for adding a standard Delaware Series LLC to an existing Aragon Client DAO, however should work with any DAO with ERC20 Tokens.
So you started a new Aragon DAO called Awesome Music, a decentralized Music Label. All is working well collaborating with people online in different countries, but soon you find out that a musician of Classical Music insists on having a legal contract with your DAO Label instead of a token agreement. That needs the DAO to be registered in the legacy world as an LLC. But how on earth do I do that? Let us show you how!
Here’s the link to the DAO: https://client.aragon.org/#/awsmmusic/ (This example client is on Ethereum Mainnet).
Sample Aragon Client dashboard home page
Then click on ‘Assign Tokens’ on the left menu navigation area.
Aragon Client Tokens page with wallet address of Client token holders
Here you can see some of the Token Holders, artists that signed up with Awesome Music.
Now let’s go to Otoco, to create a Legal Wrapper for the DAO:
Here’s the link https://otoco.io/. Feel free also to practice a bit with the Otoco app flow using Goerli test network. You may need to get some goerli ETH for this.
Click on 'Spin up your project now'.
Select 'Ethereum Mainnet’ and click ‘Get started on next screen’.
Select ‘Just me’ and then ‘continue’.
At the moment the only options are in the USA.
Select ‘check’ and then ‘continue’.
Connect the same wallet account as the one that owns the DAO tokens, and press ‘connect wallet’.
Press ‘activate company’, and confirm tx in Metamask.
At the time of writing the ETH to cover the gas fees was around 5 USD.
Wait for tx to be mined...
Click ‘Go to Dashpanel’.
Great, we now have a legal wrapper prepared for our DAO! Now let’s actually link it to the Aragon DAO!
Click on tokens.
Now we are going to link Awesome Music tokens to the legal wrapper.
Go to the Aragon DAO and copy the token address there.
Click on the token name.
Then copy the address.
Paste the address in the link erc-20 token box and press ‘attach token’.
Confirm the Metamask transaction and wait for it to be mined.
Awesome, the Otoco legal wrapper has now been linked to the Aragon DAO!
Click on ‘show’ to see all the Awesome Music token holders appear:
Now if we go back to the Aragon DAO, you can see that all the token holders are represented in the Legal Wrapper.
Also = the official LLC documents like the Certificate of Formation. Click on Files. You can download the documents here.
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