Series LLC Structure

In this structure, each LLC is created as a series LLC formed pursuant to a Master LLC.

Example in Delaware

• Each Master LLC registers in Delaware under Delaware Law.
• Individual Series LLCs are not registered in Delaware but created under Delaware law via the Master LLC as distinct legal entities.
• Each series holds assets distinctly from one another.
• Each series receives separate tax treatment.

Concrete Example

“Toly LLC, a Series of Solana LLC”

• Toly LLC = the Series LLC users establish via their wallet.
• Solana LLC = the Master LLC registered in Delaware.
• The complete legal name combines both entities.

Key Innovation

The platform discovered that a smart contract address can serve as the first Member of a Series LLC. This enables formation through cryptographic transactions on blockchain between wallet owners and a Master smart contract that activates the Series Operating Agreement.

In this setup, the first Member of the Series LLC (Toly LLC) is whoever controls the wallet that sends SOL to the Master LLC (Solana LLC) smart contract address that spins up the Series LLC.