The decentralized self-governing organization The LAO announced that it will open a share sale to qualified investors on April 28 to become a member of The LAO. For investors who intend to become members of The LAO, pre-registration is required. After reviewing and confirming that they are qualified investors in the United States, they can purchase the members’ token shares. The LAO membership follows the first-come-first-served principle, and each member can purchase 1% of LAO tokens at a price of 120 ETH in a public sale, with a cap of 9%. The LAO will provide a legal structure for participating members, which can not only provide donations, but also invest in blockchain projects in exchange for tokenized stocks or utility tokens. The LAO project used OpenLaw to establish a limited liability entity established in Delaware, and used Moloch v2 smart contracts to handle voting, financing, and fund allocation mechanisms.