Administration of Contributions

How do you transfer funds into The LAO?

Using a digital wallet, such as MetaMask (opens new window), or a wallet compatible with WalletConnect (opens new window) members can contribure to the LAO after they have been approved (i.e., verified as an accredited investor, passed KYC/AML checks, etc., as applicable and as further outlined here).

Why are my contributions in Ether converted to wrapped Ether?

Ether contributions will be wrapped as ERC-20 tokens (wETH) to allow for a seamless interaction with The LAO smart contracts (described further here). The ERC-20 standard streamlines how tokens are tracked and transferred between parties. Ether itself predates the ERC-20 standard, and it did not come with a built in standard of how to track and trade tokens amongst parties. The conversion from Ether to wETH addresses this concern.

Will all contributions be held in Ether or can they be converted to other digital assets?

The members, acting by majority vote, have the right to elect to invest capital contributions to The LAO in either Ether, Bitcoin, and/or fee or interest bearing cryptocurrencies or other digital assets.