BankSocial is a licensed, Wyoming DAO - The license provides recognized legal structure that incorporates and limits the liability of DAO members.
The purpose of the DAO is to maintain and manage all components of the lending pool and $BSL token.
BSL currently has 5 delegates that were proposed, voted on, and confirmed by the community. Each delegate had to go through a thorough KYC process before becoming officially elected. Delegates make decisions on behalf of the community regarding approval of loans based on criteria that the community has proposed and accepted.
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