Today marks a monumental chapter in the world of Web3-native organizations. Rise, known for its dedication to streamlining crypto <> fiat payroll and compliance operations for decentralized autonomous organizations (DAOs), is excited to announce its partnership with MIDAO, the exclusive registered agent for the revolutionary DAO LLC legal entity in the Marshall Islands.
This partnership is not just a collaboration; it's a leap towards revolutionizing Web3 legislation. Since early 2022, the Marshall Islands, an idyllic nation in the Pacific Ocean, has been the epicenter of innovative Web3 law. Together with MIDAO, they have crafted what is arguably the most advanced legal structure for Web3 entities - the DAO LLC. This landmark legislation allows organizations to incorporate blockchain-based governance directly into their legal framework, providing the benefits of corporate personhood, tax optimization, and crucially, limited liability protection for their members.
The significance of this partnership cannot be overstated. For the first time, emerging DAOs within the Rise network will have access to a legal entity tailor-made for their unique needs. Rise's commitment to aiding DAOs in all facets of business, including payroll and compliance, meshes seamlessly with MIDAO's legal expertise. Together, they stand as a beacon for organizations navigating the complex legal and regulatory Web3 terrain.
The recent amendment to the DAO Act of 2022 by the Marshall Islands, carried out in close cooperation with MIDAO, underscores this commitment to innovation. This historic move simplifies the DAO incorporation process, further cementing the Marshall Islands as a global vanguard for Web3 legal entities. MIDAO's role as the gatekeeper for these entities ensures that a broad spectrum of Web3 organizations can now establish their DAO LLC or Series DAO LLC with ease, enjoying the benefits of a legal framework that understands their distinctive needs.
Rise's partnership with MIDAO brings an exclusive offer to the table: any DAO / Web3 organization in Rise's network is now entitled to a 10% discount on standard pricing for setting up their DAO LLC. This is more than a discount; it's an invitation to be part of a groundbreaking legal infrastructure that has already seen the incorporation of over 100 entities. It's a call to action for Web3-native organizations to solidify their operations with the backing of robust legal support.
The partnership is a testament to Rise's and MIDAO's shared vision of empowering DAOs and Web3 organizations. By providing a comprehensive ecosystem for these entities, they are not only fostering growth in the Web3 space but also ensuring that this growth is built on a foundation of legal certainty and operational efficiency.
The collaboration between Rise and MIDAO is more than a partnership; it's a pivotal step forward for the entire Web3 community. It represents an alignment of innovative legal solutions with operational excellence, a combination that will undoubtedly catalyze the success of decentralized entities. As we move forward, the path has never been clearer for DAOs seeking to solidify their place in a rapidly evolving digital landscape. Rise and MIDAO are here to ensure that your organization is not just a participant but a leader in the Web3 revolution.