As we advance towards total decentralization, the JetDAO requires a legal wrapper to relieve its members from bearing significant liability for funds and actions. This legal wrapper allows the DAO to partake in activities that it may otherwise be unable to carry, like: interacting with third parties external to the DAO, entering into contracts with digital asset exchanges, holding assets, protecting valuable IP of DAO members, etc.
The Jet Association is a non-profit Swiss based entity, which acts as that legal wrapper for JetDAO. To begin, Jet Association will be seeded with operating capital from Jet Protocol Holdings, LLC and it will employ a group of core contributors to fill key roles needed to launch JetDAO operations. Those include, but are not limited to:
- Executive Director/President
- Governance Committee
- Regulatory and Compliance
- Marketing and Communications
- Protocol Engineering
- Front-end Engineering
With Jet Association in place, the JetDAO’s initial structure is being built to be both resilient and flexible in the face of unpredictable changes within both the regulatory landscape and broader macroeconomic environment, as well as within the market itself. It starts off as a somewhat centralized structure, but will progress to an increasingly decentralized setup over the course of 12 to 18 months.