LexDAO June 2023 Recap
We are halfway through 2023 and we here at LexDAO are keeping pace with the ever-changing web3 landscape. Join us below for the latest happenings in LexDAO and beyond.
What's New in LexDAO
LexDAO continued to make significant progress toward creating new content and establishing new committees within the DAO this month. We previously hinted at several big changes that were in the works, and we are finally ready to share what we have been working on with you. Keep reading to see what we have been up to.
LexDAO Participates in CLR.fund Round and Surpasses 750,000 GIVpower [donate]
LexDAO is participating in the next CLR.fund round to raise additional funding for projects, including the development of AI training programs like Lexy, the legal assistant, and NANI, the autonomous generative AI. The funding program will be administered by LexDAO’s Grants Committee and funds will be distributed to various projects within LexDAO with oversight from the Grants Committee.
LexDAO has also surpassed 750,000 GIVpower in the latest GIVbacks round. Additional contributions to our project page increase our rewards percentage and visibility on the platform, ultimately helping us achieve our goal of supporting the web3 community.
Donations will assist LexDAO in its ongoing mission to provide legal resources and open-source tolling for the web3 community. Please visit CLR.fund here and our giveth page here, as well as our linktree with a comprehensive list of all funding opportunities, to contribute and help support LexDAO in its ongoing mission. And please also share some love with the grant from our friends over at Kali.
Communications Committee Proposal Snapshot [vote]
A Snapshot proposal has been initiated to approve the establishment of a Communications Committee within LexDAO. If enacted, this Committee will support LexDAO’s curation of relevant news and content to its members, subscribers, and others within the web3 community through the development of additional products for the DAO. Click here to read the proposal and vote if you are a LexDAO member!
LexDAOism is now LexNews+ [news]
LexDAO’s Substack has undergone a transformation this Spring that is representative of the changing seasons. We are examining every aspect of LexDAO in our ongoing efforts to streamline our operations and content offerings to make information more accessible and understandable to our members and the public. As part of this goal, we are officially rebranding our public newsletters to LexNews+ and expanding our offerings. We think this name better conveys our mission of delivering relevant content from LexDAO and beyond. Of course, we mean “newsletters” in the plural sense, and not just with respect to our Monthly Newsletters. Which brings us to our next announcement…
LexNews+ Introduces Weekly Newsletter [news]
We are excited to announce that LexDAO will be launching a weekly newsletter to deliver the latest web3 and crypto news directly to your inbox! Our Weekly Newsletter is aimed at providing readers with a comprehensive look at the most relevant current events in web3. In this ever-changing landscape, it is easy to fall behind on the latest happenings or miss the stories that everyone else has been talking about. But fear not. Our skilled team of content ninjas (title still TBD) will be hard at work scouring the latest headlines and consolidating that information into easy-to-read, digestible bits so you don’t have to.
We are excited for the Weekly Newsletter team to join LexDAO’s ranks and help you stay on top of the latest happenings both on and offline. Stay subscribed to our Substack so you don’t miss our first issue, which will be hitting inboxes soon.
Progress Continues on LexDAO’s Website Overhaul [update]
LexDAO members Anson (#ansonparker), Andres Doval (#adstinkypinky), and Cimply (Cimply#3820) continue their work giving LexDAO’s website a makeover and some helpful improvements to layout and design. The website overhaul will provide numerous changes to help LexDAO members and members of the web3 community with accessing pertinent information and resources. These changes include:
Consolidating all outstanding LexDAO domains
Creating a staging environment at hexagon.xyz so all members can contribute to development of the project
Creating AI-generated artwork to make the site truly original and membership driven
Purchasing server space owner and operated by LexDAO
Creating an easy-to-use Wordpress templated content management system to develop and map all pages
Deploying a Coinbase checkout application to manage memberships
Revamping the member checkout process
Creating a calendar management page for LexDAO event tracking
The website is currently live in alpha testing at LexDAO.net. We are currently exploring options for which LexDAO domain will be used as our homepage, and the decision will ultimately be put to a member vote. A full membership checkout flow has also been implemented and we are testing the Coinbase checkout mechanism. We will begin conversations with LexDAO’s members about ongoing site management and critical enhancements to the page in Phase II of our plan once these functionalities have been fully-implemented.
All members are encouraged to test the site and provide feedback directly to #ansonparker and #Cimply#3820. We look forward to sharing additional news on this project as it moves toward completion!
LexDAO Approves Project to Develop Library of Legal Materials [news]
LexDAO’s Grants Committee approved a test project for a student team within LexClinic to work with LexDAO members Andres and Scott Stevenson (#Tenfinney) to develop critical contracts for web3 organizations after six weeks editing a proposal submitted by the project’s sponsors.
This project is a test of a new operational model within LexDAO for allocating budgets to projects like these by creating a multisig wallet holding approved funds that is managed by three parties: A Project Supervisor (Andres), a Client (#Cimply), and an Arbiter (#Tertius). The wallet requires at least two of these three parties to sign all transactions and payments initiated by the project’s Supervisor.
If you would like to get involved please reach out directly to #adstinkypinky or #tenfinney directly on Discord. To learn more about the project, and to read the executive proposal submitted along with it, check out the full proposal here.
LexDAO Asset Round-Up and Financial Infrastructure Updates [update]
A large number of assets have been created since LexDAO’s inception. During the first half of this year, LexDAO members managed to secure the vast majority of these assets and begin implementing a consolidated infrastructure that ensures LexDAO maintains control and management of critical pieces.
Tertius (#tertius.eth) has also been hard at work securing a traditional bank account for LexDAO to enable us to interact with businesses in the real world. This process was finalized and implemented at the end of May, providing LexDAO with the benefits and security of traditional banking.
If anyone would like to participate in these project or discuss specifics, please reach out to Tertius or Cimply on Discord directly.
LexDAO AMA on the Ooki DAO Outcome [event]
LexDAO hosted a Twitter Space on June 12 about the outcome of the United States Commodity Futures Trading Commission’s lawsuit against Ooki DAO with Ross Campbell. In it, Kyle Smith (#bestape) and Ross discussed the theories of liability that can be asserted against DAOs generally, why the case was brought by the CFTC and not the Securities and Exchange Commission, whether a DAO takes a legal form and can be hailed into U.S. courts, the issues faced by Ooki DAO in defending this case, issues of standing, and more.
CFTC Division of Enforcement Director Ian McGinley gave a statement on the Ooki DAO litigation victory, which can be read here. Click here to listen to a recording of the event and learn more about the topic, and follow LexDAO on Twitter to be alerted to future events.
Twitter Spaces with Parcel on DAOs and Decentralization [event]
Parcel hosted a Twitter Spaces with LexDAO on June 22 to discuss how DAOs can remain legally compliant without losing decentralization. The conversation spanned model laws for DAOs, how legislation and jurisprudence are shaping the way DAOs interact with the world, and different DAO projects in the web3 community. Listen to the conversation here.
Parcel aims to address issues with financial operations faced by DAOs and web3 teams by bringing a new PaymentOS for web3 teams and DAOs, complete with a suite of tools to help scale financial operations. These tools include managing payroll needs and payment requests from contributors and facilitating DAO transactions through multisig smart contracts.
LexDAO Gets Recognized by ImpactDAOs [news]
LexDAO was recognized by ImpactDAOs for our ongoing contribution to the web3 community by lowering the cost of legal information, providing comprehensive tooling and legal infrastructure and services, and ultimately creating an impact throughout the web3 space.
Wethank ImpactDAOs for their mention. A list of similarly recognized DAOs can be found by visiting the list curated by ImpactDAOs here.
Law of Code Podcast Episode #101 - Legal Wrappers for DAOs [podcast]
Kyle joined Jacob Robinson, host of the Law of Code podcast, on episode #101 to discuss legal wrappers for DAOs with research support from Kyler Wandler (#kyler56) and the LexNews+ Weekly Newsletter team. Legal wrappers are legal entity forms that can be adopted by DAOs to give them legal rights and enable legally valid interactions with individuals and other entities. Without a legal wrapper, DAOs are at risk of being classified under jurisdictional laws as entity types without limited liability protection or being unable to transact with institutions, such as banks.
The importance of legal wrappers for DAOs cannot be understated. So listen to episode #101 for more information.
Get Involved!
LexDAO is always looking for new members! If you are interested in the work we are doing:
Check out our Discord and ask some questions (feel free to DM our Assistant Operator @Cimply#3820 with any onboarding questions).
Join our bi-monthly governance calls on Wednesdays at 12pm EST in Discord!
When you are ready to join, fill out this form and check out this post for all the information that you need to apply.