OtoCo Documentation
  • Hello to Automated Company Assembly on Blockchain
  • Updates
    • Oct 2022
    • Sep 2022
    • Aug 2022
    • Jun 2022
  • A. OtoCo: Instant Real-World Entities on Ethereum
    • Part I. How OtoCo Came About
      • 1. The legacy process
      • 2. How we condensed speed of formation to seconds instead of days
        • a. Introducing the Series LLC
        • b. How we removed the naming speedbump
        • c. Why blockchains?
  • Part II. The OtoCo Ethereum smart contracts
  • Part III. The Legal Nexus
    • 1. Delaware
      • Delaware: Certificate of Formation
      • Delaware: OtoCo DE Master LLC Operating Agreement
      • Delaware: OtoCo DE Series LLC Agreement
    • 2. Wyoming
      • Wyoming: Certificate of Formation
      • Wyoming: OtoCo WY Master Operating Agreement
      • Wyoming Series LLC Operating Agreement
  • B. Where We Go From Here: Introducing the OtoCo token
    • Part I. Our Vision for OtoCo: From Product to Platform
      • 1. The Anachronism of Analog Company Formation
        • A Wordpress for companies?
        • Why is nobody doing this?
        • Enter blockchains
      • 2. From Product to Platform: An Onchain Venture Building Marketplace
  • Part II. The OtoCo Token: A Loyalty Scheme, Developer Reward and Voting Card - All in One
    • 1. A tokenized points-system
    • 2. “Proof of sale” rewards
    • 3. A voting card
    • OTOCO Issuance
  • Part III. A New Smart Contract Solution to Building a Pre-Order Book and Automating Token Issuance
    • 1. The idea behind our design
    • 2. Our proposed staking smart contract
    • 3. The OtoCo token sale process
    • 4. Funding update
  • Part IV. Proposed OtoCo Governance and Exit to the Community
  • C. User Guides and FAQs
    • Taxes and reporting
    • Independently verify a blockchain-signed document
    • Create a funding launchpool using OtoGO
    • Prove ownership of your on-chain LLC
    • Multisig LLCs for DAOs
      • Setting up a Gnosis Safe and an OtoCo LLC
    • FAQs
      • About the Series LLC
      • The role of the Master LLC
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On this page
  • Step 1: Create a Gnosis Safe (if you don’t have one)
  • Step 2: Select the OtoCo App
  • Step 3: Set-up Your On-chain LLC
  • Step 4: The OtoCo Dashboard

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  1. C. User Guides and FAQs

Multisig LLCs for DAOs

Using Gnosis Safe, it's possible to own and operate an on-chain LLC using a multisig!

PreviousProve ownership of your on-chain LLCNextSetting up a Gnosis Safe and an OtoCo LLC

Last updated 2 years ago

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In some cases, projects seek to maximize decentralization and require several people to have access to their LLC’s dashboard within OtoCo and be considered members of the LLC.

This is why we created an app within Safe, the leading provider of multi-signature wallets. Using the Gnosis app means all signers of a multisig can access the OtoCo dashboard and approve transactions for the LLC.

A visualization of the instructions can be found linked here:

Here is a full breakdown of the steps required:

Step 1: Create a Gnosis Safe (if you don’t have one)

If you already have one, skip to step 2!

Most of you will know Gnosis Safe and may use its multi-sig smart contracts to manage digital assets on Ethereum.

If you don’t, a multi-sig is a crypto wallet that requires the approval of multiple people before a transaction can occur.

Multi-sig is short for “multiple-signature” because each person would “sign” to approve the transaction from their personal wallet which they control with their individual private key.

You can make a test wallet for free on the Rinkeby test network!

Integral to creating a multi-sig is adding other owners. These are wallets that have the ability to sign!

All signers that you add to Gnosis SAFE will be able to access OtoCo.

Next, you’ll set how many owners need to confirm a transaction before your multi-sig can execute it.

The more confirmations needed, the more signers need to participate in a transaction (which improves security).

Once that’s done, review your details and click Create. Confirm the transaction using your connected wallet.

Step 2: Select the OtoCo App

After you created or accessed an existing multi-sig, go to the “Apps” section on the left-hand menu. You’ll find OtoCo as one of the dApps available on both Ethereum and Rinkeby.

We recommend testing out our dApp on Rinkeby before setting up a new entity on Ethereum for legal validity.

Step 3: Set-up Your On-chain LLC

You’re now ready to set-up an on-chain LLC with OtoCo using your multi-sig!

Make sure that your multisig wallet has at least 0.05 ETH to pay for the activation fees and that your connected wallet (one of your signers) has enough ETH for the gas fees.

Click on “Spin up your project now.”

Check the name availability for your LLC and choose the jurisdiction you want to create your company in, Delaware or Wyoming.

Note: the third option, an Unincorporated DAO, does not bring the legal benefits of an LLC.

Since this is a multi-sig setup, each owner/signer that you added during Step 1 has to access the Gnosis SAFE dashboard and sign (unless you calibrated the thresholds for signing differently).

Click on Transactions on the left-hand menu, and press the Confirm button. After all signers have confirmed, the transaction will be executed.

(If your multi-sig wallet does not have other signers, and it’s only you controlling it, you will not be required to approve the transaction on this page. It will automatically be approved!).

Step 4: The OtoCo Dashboard

Your LLC is now live! All multi-sig signers/owners can now access it through the Gnosis SAFE Apps section.

The OtoCo dashboard will feature all of your LLCs. Managing an LLC from within Gnosis SAFE is the same as managing it from within your OtoCo dash.

But remember, all transactions will need to be approved by some or all of your signers in Gnosis just like when you first created the LLC).

Happy BUIDLing!

Visit to create a multisig wallet. Connect your web3 wallet and make sure you’ve selected the correct network before clicking the Continue button.

gnosis-safe.io/app/welcome
Gnosis
Setting up a Gnosis Safe and an OtoCo LLC