DAOs | Crypto

The legislation “embraces innovation, protects participants and empowers internet-native communities to compete with big tech incumbents,” said a16z’s Miles Jennings. The US state of Alabama has become the second US jurisdiction after Wyoming to grant decentralized autonomous organizations (DAOs) legal status under the DUNA Act. The Decentralized Unincorporated Nonprofit Association (DUNA) Act (Senate Bill 277) was introduced in February by Republican Senator Lance Bell. The House passed it 82-7 with 16 abstentions on March 17, and has now been signed by Alabama Governor Kay Ivey, according to a16z Crypto. Speaking about the bill’s passage, a16z Crypto’s head of policy and general counsel, Miles Jennings, said on Wednesday that “decentralized governance is essential to crypto’s future — it’s one of the core constructs in market structure legislation.” Read more

Crypto’s push into institutional adoption is forcing DAOs to choose between maintaining decentralization and business deals. Decentralized autonomous organizations (DAOs) were built on an ideological premise that is now running up against the realities of running a business, where decentralization collides with the need for legal ownership and control. On March 11, DAO Across Protocol made a controversial proposal to transition to a private company through a token-to-equity exchange buyout. Risk Labs, the team behind Across (ACX), said that the token and DAO structure “materially” impacted its ability to close deals with enterprises and institutions. The industry reaction has been split. Decentralized finance (DeFi) researcher Ignas called it a “huge failure of crypto.” Read more

The Ethereum co-founder says that prediction markets and creator DAOs would reward inherent value, rather than celebrity or virality.

Vitalik Buterin said the current creator token model favors those already popular and rewards mass content creation over high-quality content. Ethereum co-founder Vitalik Buterin has proposed a new creator token model that combines decentralized autonomous organizations (DAOs) with prediction market mechanics to incentivize higher-quality content creation. Creator tokens, or content coins, are blockchain-based assets that can grant fans a slice of ownership, access rights, or even royalties for the content creator’s work, which could be in the form of posts, photos, music, or videos.  However, in a post on X on Sunday, Buterin said existing creator token platforms notably prioritize mass content creation over quality, and that this is now being exacerbated by AI-generated content. Read more

The Uniswap Foundation spearheaded a coalition of 18 major cryptocurrency organizations in petitioning Treasury Secretary Scott Bessent for federal guidance on decentralized autonomous organization (DAO) compliance. In a Sept. 2 letter, Uniswap Foundation cites persistent legal uncertainty that has driven innovation offshore. The document advocates for federal recognition of Wyoming’s Decentralized Unincorporated Nonprofit Association (DUNA) […] The post Uniswap Foundation leads coalition urging Treasury Secretary Bessent to clarify legal framework for DAOs appeared first on CryptoSlate.