LAO is organized in the spirit of DAO (Ethereum's most promising application is Decentralized (Autonomous) Organization, also known as DAO), is a member-directed venture capital fund organized in the United States to comply with American law. Like DAOs, LAOs allow members to pool capital, invest in projects, and share in any investment gains.
LAO is a legal entity (Delaware LLC) primarily managed through an online application ("DApp") and associated smart contracts.
Launched at the end of April 2020, The LAO has already supported more than 30 projects in the Ethereum and blockchain ecosystem.