Our DAO bill fought a good fight. Our journey has ended in the Senate, for now.

It is with sadness and frustration that we address the events that shook our industry last week. Our solidarity goes to the customers and members of our community who were directly impacted by FTX’s misappropriation of user funds.

ATX DAO’s mission has organically evolved from what was first passed by the genesis team in our blueprint (November 19th, 2021) to what we see in practice in the organization today. Particularly, since the establishment of the public policy think tank, ATX DAO has progressively become a more relevant crypto policy advisor for the city of Austin and the state of Texas.

ATX DAO is a Local DAO dedicated to making Austin the crypto capital of the world. We are leading the charge in the Local DAO movement - grassroots organizations, bound to a given town, city, or state, and dedicated to improving their community via blockchain technology.

In this testimony, we speak to ATX DAO’s general position in DAO law, the importance of anonymity for DAOs, and speak to new technologies that may be relevant in mitigating common concerns regarding DAO legislation.

Much has been said in Web3 circles that 2022 is “the year of the DAO”. And while the core ideas of a Decentralized Autonomous Organization are as old as on-chain governance, the recent growth of DAOs like Friends with Benefits, Olympus DAO, and even the late Constitution DAO have brought the attention of the industry to this new concept.