If you want to create a legally compliant decentralized autonomous organization (DAO) in Wyoming, you’ll have to structure the business entity the right way. You’ll need to form a DAO limited liability company (LLC). Forming a Wyoming DAO LLC is similar to creating a traditional LLC but with a few extra steps. We help entrepreneurs just like you create DAO LLCs. Start by checking if your business name is available above.
DAO founders are able to start DAOs in Wyoming on their own. If you want to DIY forming your own DAO, follow the steps below.
How Form a Wyoming DAO LLC
In Wyoming, to form DAO LLCs, you need to submit your Articles of Organization. DAO LLCs can be formed online. We lay out how to submit Articles of Organization online. You can also mail your Articles of Organization in paper form.
Follow these steps to create your DAO Articles of Organization online through the Secretary of State’s office:
Step 1: Choose Limited Liability Company (LLC)
When you first get to the ‘Form a New Business’ page, choose ‘Limited Liability Company (Domestic)’ from the dropdown menu. You’ll also have to confirm that you understand the information you enter is public and will appear online. Then click Next.
Step 2: Enter Your DAO Business Name
After you enter your business name twice, choose Decentralized Autonomous Organization as the Additional Designation in the dropdown. Then click Next.
DAO LLC Name Requirements
If you’re filing a Wyoming DAO, you must include “DAO” in the name. The state requires decentralized autonomous organizations have an “LLC” designation. For example, the most common designator is adding “DAO LLC” at the end of your business name. Your official company name would be “(business name) DAO LLC”.
Business Name Checker
Keep in mind that your name also has to be unique compared to the other limited liability companies in Wyoming. The legal status of your company’s name depends on it being different from all other companies in the state. Use our name checker service to make sure your DAO LLC name is distinguishable and follows Wyoming law.
Step 3: Fill out the Detail page
Next you’ll see a dropdown for ‘period of duration.’ This means how long a DAO LLC will remain in existence. For your company, choose ‘Perpetual’ to keep your company open forever (until the DAO founders choose to shut down at a later date).
You can also shut down on a specific date by choosing “expires” and then adding the appropriate date.
Step 4: Choose a Registered Agent
Every LLC in Wyoming is required to have a registered agent, and Wyoming DAO LLCs are no exception. Wyoming law requires that your agent’s address is a street address within the state.
Using a Person
Add the person’s name, address, phone number and email in the ‘Enter Agent Information’ section. You have to agree to the terms before clicking Next.
Our Registered Agent Service
Don’t have a registered agent for your DAO? You can use a person or organization to serve in that role. We offer a registered agent service in Wyoming.
Using an Organization
If you use an organization for your DAO, be sure to find the company’s name in the Organization box and skip filling out the person’s information.
Step 5: Fill out additional DAO LLC information
In this step, you’ll add:
- DAO LLC mailing address
- Email address
- DAO principal office address
- Phone number
Step 6: Identify DAO Organizers
Who is the organizer of this DAO LLC? Add the person’s name and address, then click the Add button.
The DAO organizer is the person or company submitting the Articles of Organization. The DAO organizer doesn’t necessarily have to be a member of the LLC, but they can be.
Step 7: Include Additional Articles
Unlike most traditional LLCs, you need to include 3 articles in your submission:
- Statement that your LLC is a DAO.
- Publicly available identifier of a smart contract used to manage or operate the DAO (this can simply be a URL).
- Note of restrictions on duties and transfers (or a statement that this will be included in the operating agreement).
Step 8: Confirm Your Submission
Review your DAO LLC Articles of Organization. Confirm everything is correct, particularly your business name. You don’t want to submit any misspelled words or errors.
This is your chance to go back and make changes. Simply click the links at the top to find the appropriate section.
Step 9: Officially Sign and Submit Your Articles of Organization
You’re almost done! Simply review the different terms and conditions sections. Then confirm the filer (a person or organization) and enter the appropriate information as needed. Click the Next button to pay.
Step 10: Submit Payment
Currently, the fee is $100 (plus a small convenience fee) to form a DAO LLC in Wyoming. Start the payment process, fill in your payment information and then complete the checkout process.
You’ll be able to download your documents immediately, so you won’t have to guess if it went through properly. A registration complete message will also display.
Download your Articles of Organization and receipt. We suggest printing them if you can too.
Congratulations!
Once you hit this point, you have officially created a Wyoming DAO LLC. You’ve created a member-managed DAO as a legal entity in the state.
We Can Help
Use our LLC formation service to create an LLC in Wyoming in minutes. We also offer Worry-Free Compliance and other services to help your LLC grow.
Disclaimer: The content on this page is for informational purposes only, and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
