FAQs
These FAQs should not be construed as legal advice for any particular facts or circumstances and are not meant to replace competent counsel. None of the opinions or positions provided hereby are intended to be treated as legal advice or to create an attorney-client relationship. This analysis might not reflect all current updates to applicable laws or interpretive guidance and the authors disclaim any obligation to update this post. It is strongly advised for you to contact a reputable attorney in your jurisdiction for any questions or concerns.
Articles
- General
- What is Sporos?
- How is Sporos different from DAO creation platforms?
- What types of projects should use Sporos?
- What types of projects should not use Sporos?
- Why should I consider forming a Delaware LLC for my for-profit startup instead of a different entity type?
- What do I get with Sporos?
- Why is Sporos only available on Arbitrum?
- If I deploy my LLC on Arbitrum, does that mean my treasury will be on Arbitrum?
- Are there any restrictions when using Sporos?
- I don’t have a product and/or haven’t launched my business yet. Why would I want an LLC?
- I’ve already launched my product and don’t have a legal entity. Does that mean I can’t be held personally liable for my company’s actions?
- What is Kali DAO and how is it related to Sporos?
- What if I have questions after I deploy my LLC?
- General Company Formation
- Do I need an LLC?
- What is a Series LLC?
- Will founder(s) or contributor(s) need to KYC?
- Why should I start my project as an on-chain LLC and not a different structure?
- Do I need to pay annual filing fees with the state of Delaware?
- What is a Registered Agent?
- Who will be the Registered Agent for my company?
- Why shouldn’t I just set up my company in Switzerland, Cayman Islands, Marshall Islands, etc.?
- Why does my LLC need an EIN?
- What will the legal name of my company be as a Series LLC under the Kali Master?
- Sweat Equity Tokens / Tokenomics
- What is a Sweat Equity Token (SET)?
- Will my LLC have its own Sweat Equity Token (SET)?
- How should my company allocate Sweat Equity?
- What amount of tokens should I allocate to founders when setting up a company?
- Is there a fixed supply of my Sweat Equity Token?
- How will a token holder’s ownership change over time?
- Can I hold ERC-20 tokens in my treasury?
- Can I hold NFTs in my treasury?
- Can my company only pay contributors in its Sweat Equity Tokens?
- How will I be able to realize the value of my Sweat Equity Tokens?
- Creating your LLC with Sporos
- When will my LLC be ready?
- What is an on-chain name?
- Can I change my on-chain name or token symbol later?
- What will the legal name of my LLC be?
- Can I create an LLC with more than one founder?
- Why do you need my email address?
- Why does Sporos provide default settings for my LLC?
- My company already has a legal entity. Can we still use Sporos?
- Proposals
- Can I make a proposal if I don’t have Sweat Equity Tokens?
- What is the Add Member proposal type?
- Can I propose new tokens be issued to myself?
- What is the Remove Member proposal type?
- What is the Unknown proposal type?
- What is the Governance proposal type?
- What is the Active proposal status?
- What is the Unsponsored proposal status?
- What is the Process Proposal proposal status?
- What is the Failed proposal status?
- What is the Completed proposal status?
- What is the proposal Deadline?
- What does it mean to “delete” a proposal?
- Can I delete a proposal once it’s live?
- Can I edit a proposal after I create it on-chain?
- Project Management
- Governance
- Billing