“As a society, we can’t hide from the future; we have to build and own it.” — Andrew Yang
The YangDAO is a decentralized organization that allows its members to collectively fund new projects in the shared interest of the Yang Gang. Anybody can apply to be in the YangDAO, and if accepted, can vote on new ideas to be funded. In a decentralized organization, group decisions are made fairly and democratically. Once final, the results of these decisions are transparent and incorruptible.
The YangDAO is a 21st century solution to 21st century problems.
Before the Yang Dynasty
Our citizens suffer from widespread political and economic alienation. Today, just 17% of Americans say they trust government. Less than one in five approve of Congress. Our political institutions are failing to meet the needs of the people they serve.
Meanwhile, an estimated 50% of global work activities are at risk of automation, with as many as 800 million jobs (about 30% of the global work force) expected to be displaced by 2030. The value from automated production will be disproportionately captured by corporations, resulting in the continuation of rising economic inequality around the world.
These problems join a perfect storm of existential threats facing humanity: a global climate crisis, failing healthcare systems, widespread regulatory capture, unfair and unfree elections, and an ongoing battle for universal suffrage. Political and economic turmoil continue to plague the human condition, leading us into an increasingly desperate state of civil unrest.
But the landscape of our political economy is changing fast.
The 2018 US midterms brought a Cambrian explosion of diversity in politicians and active voters. We elected a record number of women into the US Congress, including the first Muslim women, the first Native American women, and the youngest woman ever. We elected the first openly gay governor. We saw the highest level of youth voter turnout in recent history, a demographic that is approaching baby boomers as the largest generation in the electorate.
The rapid shift in the window of discourse has prepared society for a radical new political and economic world order, one that fosters equality of opportunity, transparency, and cooperation. One where respect for human dignity is universally expected and enforced. This cultural revolution has achieved critical momentum with the emergence of a new tour de force — the Yang Gang 🤘.
Rise of the YangDAO and the Golden Age of the Yang Dynasty
The decentralized autonomous organization, or DAO, is a type of cooperative network that has historically been used to fund technology development at scale. With the advent of the YangDAO, we can now wield this tool to launch us into a renaissance of human prosperity and enlightenment.
The YangDAO is neither a corporation nor a campaign committee. Instead of a board of directors, executive officers, and employees, the YangDAO is operated by its members through a system of open-source smart contracts. The system ensures that decisions are made transparently and democratically, removing the possibility for embezzlement of funds or preferential treatment of some members over others.
The possibilities for funding proposals are limited only by the will of the membership. You might imagine a YangDAO proposal to erect a MATH statue in Iowa 🗽, another one to fund a Freedom Dividend program for Venezuela 🇻🇪, and another one to convince Keanu Reeves to join the cast of HBO’s Humanity First 🎬.
Proposals come in all shapes and sizes, and it is up to the Yang Gang community to steward the YangDAO towards shared objectives.
Here is a brief overview of how it works:
- A prospective member pledges money to the Freedom Bank (the shared funding pool). An existing member applies on their behalf.
- Existing members vote on the applicant.
- If accepted, the new member receives shares, which allow them to vote on proposals and prospective new members.
- A member may submit a proposal for funding, asking for new shares, providing a description of the project to be funded, and pledging 0.
- At any moment, a member may ragequit, exchanging their shares to withdraw a proportional share of the money in the Freedom Bank.
The YangDAO is a decentralized organization on a blockchain.
All transactions on the YangDAO run on Ethereum, the world’s leading programmable blockchain.
Like Bitcoin, Ethereum is not controlled by any person or entity — instead, it is an open network which is managed by a global network of users. Unlike Bitcoin, Ethereum is programmable, which means developers can use it to build applications and digital currencies with the benefits of blockchain technology.
The Ethereum blockchain has a native digital currency, Ether (ETH), which is used to make payments, as a store of value, and to run smart contracts. Smart contracts allow users to exchange value with one another in a secure and transparent manner without requiring an intermediary 🤝.
The following video by the CME Group provides a visual explanation of Ethereum and its uses:
All membership proposals, voting, and movement of funds in the YangDAO are governed by smart contracts and operated by its members on the Ethereum network 👩💻👨💻.
The YangDAO uses a stabilized digital currency called DAI, which is built on Ethereum and pegged 1:1 to the US Dollar. Regardless of the volatility of other digital currencies, the value of 1 DAI always remains at approximately $1 USD.
In our next article, YangDAO Tutorial — Becoming a Member, we provide a step-by-step guide to submit a membership application.
By harnessing the power of the community, we can modernize our outdated institutions, empower our citizens, and bring the will of the people back into democracy️. The gang has shown an unprecedented level of grassroots coordination, and together we can grant Maximum Achievement To Humanity ✊.
Note: The YangDAO is not affiliated with Andrew Yang, the Andrew Yang presidential campaign, Friends of Andrew Yang, Pets for Andrew Yang, or any US political candidate, party, or committee.
You are virtually guaranteed to lose money as a member of YangDAO. YangDAO shares do not offer to the holder the possibility of profits. All membership deposits are made in a price-stable currency, removing the possibility of currency or token speculation on the YangDAO platform.