‘Imagine a treasury of millions of dollars’: Andrew Yang pioneers DAO for AAPI causes

March 24, 2022

Former U.S. presidential candidate and Forward Party founder Andrew Yang has launched GoldenDAO, a decentralized autonomous organization (DAO) advancing AAPI solidarity and empowerment.

A DAO is a group of people who gather online and commit to accomplish a shared purpose through blockchain technology. Last month, Yang also debuted Lobby3, a DAO focused on amplifying Web3 policies in Washington, D.C.

Yang, who co-founded GoldenDAO with Jack Liang and Theodore Lu, launched its website last Wednesday, coinciding with the first anniversary of the Atlanta spa shootings. The organization says its mission is to “collectively advance AAPI solidarity and empowerment through real-world events and gatherings, and web3 infrastructure and initiatives.”

With DAOs still in their infancy, GoldenDAO appears to be the first dedicated to Asian American social justice. Yang said the recent struggles of the community propelled him to take his advocacy to a new platform.

“It’s been a tough time for the AAPI community over the last couple of years, and we all know people who have been impacted directly, including family members. I’ve met hundreds, personally,” Yang told NextShark.

“At the same time, I’ve met so many thought leaders, entrepreneurs, creatives and activists in our community who want to make a positive impact. I thought it would be helpful to build a coalition of like-minded individuals to spur effective responses. A DAO structure makes sense as it elevates the collective with member voting rights, directing community funds towards selected projects.”

GoldenDAO is grounded in six community values. These include (1) combating social injustice, (2) demystifying Asian mental health stigma, (3) closing the gap on economic disparities, (4) civic and community outreach, (5) allyship and advocacy, and (6) lifting up Asian culture, artistry and creatives in addition to promoting executive and thought leadership.

AAPI organizations have been thrust into the spotlight since the onset of COVID-19, helping Asian Americans prepare for and respond to a spike in hate. A new survey suggests that nearly 3 million AAPIs have experienced a hate incident since the beginning of 2021, far greater than the thousands that have been legally documented.

Through GoldenDAO, Yang hopes to complement the work done by existing AAPI organizations.

“I love traditional AAPI community organizations, and I think many of them do phenomenal work. I hope we can be a complement to them and activate the next generation of leaders who may be able to use new tools to reach a vast and different audience,” Yang said. “Best case, GoldenDAO can both galvanize new people and form a bridge to more established organizations.”

Still, DAOs remain an unfamiliar concept to many Asian Americans, Yang said. There is also a need to demystify web3, cryptocurrency and how such technologies contribute to real-life change.

“How does a Web3 infrastructure help accelerate and build a strong new collective? I’m excited about DAOs, but they are yet unfamiliar to many people in our community. Many people might hear of Web3 and crypto being the future, but what does that actually mean for individuals? I want to help bridge the gap between Web3 technology and getting people together in real life action,” Yang said.

Those interested in joining GoldenDAO can purchase a membership non-fungible token (NFT), with public minting set on March 31. The mint will include 2,000 NFTs sold via last-price Dutch auction, with prices starting from 1.28 ETH (currently $3,800) to 0.88 ETH (currently $2,600).

GoldenDAO will also offer 888 NFTs at 0.8 ETH (currently $2,300) each in a March 28 presale for individuals “who show commitment to GoldenDAO initiatives.” As of this writing, there are also 112 NFTs reserved for individuals and partners “who show long-term commitment to GoldenDAO initiatives and mission.”

In total, GoldenDAO is looking at a debut of 3,088 NFTs for an estimated sum of at least $9.6 million, based on current prices.

“GoldenDAO will be a thriving collective that invests in and supports projects and initiatives that elevate community efforts,” Yang said of his vision for the organization. “Imagine a treasury of millions of dollars that can be activated based upon popular will in response to real-time events and members who engage both individually and in groups. I speak for a lot of people when I say we are looking for results and outcomes, including activating resources that haven’t traditionally been deployed in this kind of direction.”

Share this Article