Neta DAO has officially become a non-profit corporation in the Republic of the Marshall Islands and sports a fancy new charter and LLC as proof.
“Because of you, Neta DAO will be the first decentralized public institution for Juno and the Interchain. We are glad to be pushing the boundaries of all that Web3 can mean and be. Together, we rise.”
-Neta DAO
Two passed governance proposals along with organizational and communication efforts from its members have given Neta DAO LLC non-profit status, which means it can now function as a corporate entity. NETA stakers passed a governance proposal to work with MIDAO Inc. –a company specializing in assisting entities through the incorporation process in the Marshall Islands– back in Dec. 2022.
“The Marshall Islands has crafted a structure that is designed for DAOs and that gives Neta DAO a solid foundation for long-term development in a space that will be increasingly filled with regulators and lawmakers.” – Excerpt from first Neta DAO governance proposal
The next step for the DAO will be to ratify a constitution so sub-DAOs can begin their work overseeing various aspects of the entirely community-owned DAO. A constitutional review session will be held 8 p.m. EST, Wednesday, June 20 on Discord to bring members up to speed. A second Discord session will take place for those who could not make the first 6 p.m. EST Monday, June 26.
Following its well established tradition of clear and comprehensive communication to its members, Neta DAO will host a Twitter Space to review the finalized constitution before a governance vote.
Previous coverage: Neta DAO Votes to Incorporate in Marshall Islands
