In our first issue of 2021, we unveil the new skin for otoco.io, lead with a thought piece on a new country as the ultimate decentralized use case, and make a case for financial privacy in our Founder post. For our paying users, we prepared an editable draft term sheet for their crypto fund and share a model Foundation constitution for an Immaculate Token Sale (ITS).
Happy 2021!
– Han, Founder & CEO, Otonomos
PRODUCT UPDATE
A new skin for our OtoCo onchain company assembler
Just before Christmas we unwrapped the new skin for otoco.io, our onchain company assembler.
We wanted the new visual language to communicate a sense of an automated assembly line that adds the parts you need for your project. So for 2021, expect more bolt-ons!
Functionality-wise, we now also let users exchange or purchase DAI and add a multi-sig to their company treasury wallet to safely hold crypto assets on behalf of their LLC.
UNBOUNDED THINKING
From community to country: A strategy towards the first digital nation on blockchain
Every year, Messari.io publishes its Crypto Theses.
As the last of its 10 theses for 2021, author Ryan Selkis mentions the “ultimate exit”: how to rebuild a “crypto-inspired nation-state”.
But how to get to a Minimum Viable Product of a new country? In this post, we look at some practical steps that may lead to digital sovereignty the startup way.
PREMIUM CONTENT
Getting the terms right: A template crypto hedge fund term sheet ($)
We work with a fair number of clients for whom we are setting up pooled capital entities, typically in Cayman, that will invest in crypto currencies and assets.
These entities for all intents and purposes function in the same way as fully-fledged funds, even if the seed capital may be from friends, family and existing contacts.
To force our clients to think about the same issues hedge fund managers face, such as redemption notices, fees, leverage etc, we have put together a brief questionnaire.
The pre-populated answers reflect best practices we see emerge and it will save you significant time and money when you reflect them in your final fund setup.
Subscribe today to download the editable termsheet + schedule a FREE 30 mins call with us to guide you through the terms.
PREMIUM CONTENT
Immaculate Token Conceptions: How to use a Foundation to push code anonymously ($)
Foundations are widely used in crypto generally and DeFi in particular, for both treasury and governance purposes.
They can also be used to create distance between a project’s core team and its token genesis smart contract, by using a memberless Foundation in which Otonomos acts as first subscriber and stand-in director.
The result is an immaculately conceived token that from day one can be used for community governance and staking purposes, whilst giving limited liability protection to you as founders.
As a paying subscriber, you can download the 42 pages template Articles of Association for your Foundation here.
FOUNDER’S NOTES
Money without memory: Why censorship resistance and financial privacy are two sides of the same coin
Despite the relatively marginal use of crypto currencies for “funny business” as the ECB’s Christine Lagarde calls it, she and other regulators seek to regulate all crypto transactions, alleging that such controls will prevent crime.
This post aims to show why, in the context of financial transactions, the crime prevention logic is creating a deanonymization dynamic that may lead to total surveillance, why this is wrong on philosophical grounds and why we should fight it with every fibre in our body.
Next month: Look out for our Otonomist February issue in your inbox by mid-February.
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