The RaidGuild team is extending Moloch v2/LAO contract to enable subsidiary DAOs
The LAO (Limited Liability Autonomous Organization), an initiative developed by OpenLaw to create a for-profit DAO is getting updated with an extension to the Moloch v2/LAO smart contract. The new release by RaidGuild called Minion is an extendable smart contract for Moloch DAOs that will enable subsidiaries to be created within DAOs. These subsidiaries are currently named “Baby DAOs”.
Why it matters:
- Currently, only accredited investors can participate in LAOs or for-profit DAOs. Subsidiary DAOs (SubDAOs) enable new organizational structures that may allow participation from non-accredited investors. In the short term, DAO subsidiary components could function like special purpose vehicles in the traditional world. Over time subDAOs may gain additional functionality and enable widespread participation of non-accredited investors.
- The creation or transactions from subDAOs will still require approval from the original “parent” DAO. This means that the parent DAO’s community will maintain voting rights and remain in control.
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