Proposal Details
Otoco.io lets you spin up real-world, blockchain-native LLCs in 5 seconds and for 5 DAI.
Our "hypercompanies" are instant legal wrappers in Delaware and soon also Wyoming, geared to receive LOA-type funding or house a crypto project under a cheap and easy legal structure.
We believe blockchain-native legal entities are one of the primitives of the Ethereum ecosystem and we want to make it as easy to spin up a new legal entity as a Wordpress website. Once your entity is setup, you will then be able to be install "plug-ins" i.e. open-sourced add-on smart contract or other solutions from the OtoCo dAppstore that will help with everything your business needs (governance, funding, crypto banking, payment processing, wallets, even fiat bank account if you need one!).
OtoCo is a spin-off from otonomos.com which I (Han) founded and lead as a seasoned business builder with a number of exits since I left Goldman Sachs. Since the early days of Ethereum, Otonomos has helped the community set up legacy legal entities in the world's most favorable jurisdictions incl Cayman, Singapore, Hong Kong etc. In addition, as a filing agent ourselves in Delaware and Wyoming, we can handle all of the offchain whilst clients can do everything onchain.
OtoCo is being setup as an independently capitalized Delaware C-Corp. We are building Otoco as a business proposition and have real revenue baked into our model, just like Otonomos which has been profitable almost from day one.
We will use the 100k minimum entirely towards development and to gear up for a bigger funding round possibly via an A+ offering in 2021. Please see our deck for more info https://web.tresorit.com/l#rzOVS8zjwPhiY-HnbUnedg. You will be asked to enter your email and be sent a code to access the PDF.