{"id":125477,"date":"2025-03-20T15:16:15","date_gmt":"2025-03-20T15:16:15","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125477"},"modified":"2025-03-20T15:16:15","modified_gmt":"2025-03-20T15:16:15","slug":"ton-based-xdao-protocol-grants-legal-status-to-367k-daos","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125477","title":{"rendered":"TON-based XDAO protocol grants legal status to 367k DAOs"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsXDAO, a protocol based on The Open Network (TON), has enabled over 367,000 decentralized autonomous organizations (DAOs) to achieve legal status through its initiative that automates legal recognition for such organizations.\u00a0<br \/>\nIn an announcement, XDAO said it had streamlined the DAO creation process to allow DAOs to achieve legal status. An XDAO spokesperson told Cointelegraph that the protocol offers a standard for other \u201csub-entities\u201d within its legal framework.\u00a0<br \/>\n\u201cBasically, those sub-entities exist both in relation to each other and outside entities that had acknowledged their existence and assented to some articles of the XDAO Labs\u2019 Constitution,\u201d the spokesperson told Cointelegraph.\u00a0<br \/>\nXDAO added that the parties recognize Singapore, where XDAO Labs is incorporated, as the primary jurisdiction where disputes may be resolved if necessary.\u00a0<br \/>\nSigning legally-binding documents through Telegram bots<br \/>\nThe protocol also said it could enable the signing of legally binding documents using Web3 wallets. XDAO said DAOs could archive their transactions using a Telegram bot.\u00a0<br \/>\nWhen asked about the security and practicality of its Telegram bot-based legal framework, the XDAO spokesperson said agreements formed through the messenger work in \u201cmost jurisdictions.\u201d However, the XDAO representative outlined its limitations, including \u201creal estate, securities, and other matters that call for a prescribed procedure for the contract\u2019s formation.\u201d The spokesperson told Cointelegraph:\u00a0<br \/>\n\u201cHowever, when making agreements through a Telegram bot, it is important to approach the recording of all details and specifics responsibly, as this can later facilitate dispute resolution.\u201d<br \/>\nThe spokesperson added that the bot can store information that DAO participants consider significant. It can even be used to conduct basic Know Your Customer procedures.\u00a0<br \/>\nRelated: Texas court issues judgment against Bancor DAO after it ignored summons<br \/>\nHow smart contract-based compliance would work in practice<br \/>\nWhen asked how their smart contract compliance models would work in arbitration scenarios, XDAO said the parties could form valid arbitration agreements through messenger or e-signature methods such as Docusign and Ethsign. This requires personalities to be firmly established and the \u201cintention to adjudicate the dispute is clearly expressed.\u201d\u00a0<br \/>\n\u201cArbitration is a commonly recognized dispute resolution procedure, which exists under influential international conventions. Those conventions do not specify the exact way of making an arbitration agreement, apart from it being in writing,\u201d the spokesperson told Cointelegraph.\u00a0<br \/>\nThe spokesperson added that if payment is required, an arbitrator can be added to the DAO with the right to a key vote. This would allow them to sign a transaction with their digital signature if the parties fail to reach a consensus.\u00a0<br \/>\nMagazine: Ridiculous \u2018Chinese Mint\u2019 crypto scam, Japan dives into stablecoins: Asia Express<a href=\"https:\/\/cointelegraph.com\/news\/xdao-labs-ton-telegram-dao-legal-status-367k?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsXDAO, a protocol based on The Open Network (TON), has enabled over 367,000 decentralized autonomous organizations (DAOs) to achieve legal status through its initiative that automates legal recognition&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125477"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125477"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125477\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125477"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}