YangDAO
YangDAO
Aug 8 · 5 min read

In this article, we provide a step-by-step guide to become a member on the YangDAO app. Read our announcement post here.

UPDATE (Sept 8, 2019): You can now use DAOHaus to pledge directly to YangDAO with a Web3 wallet such as MetaMask. We’ve created a quick tutorial to do this: Pledging to YangDAO with DAOHaus.

Becoming a YangDAO Member

  • Pledge 40+ DAI ($40+ USD) into YangDAO. An existing member applies on your behalf, requesting 1 share per DAI pledged.
  • Existing members vote on your membership application.
  • Once accepted, you receive shares, which allow you to vote on member/funding proposals.
  • At any time, you may ragequit, exchanging your shares for a proportional amount of money in the YangDAO and leave.

If you’re new to Ethereum, follow this tutorial to set up and fund your Ethereum wallet before proceeding. The following guide uses MetaMask as the wallet of choice.

1. Create your YangDAO account

Go to dao.yangdao.org to sign up for an account.

Make sure you are NOT in incognito mode, since the private key to your YangDAO wallet will be held in your browser’s local storage. Your Pseudonym (username) is case sensitive.

On the YangDAO app, click “Sign in” on the top right, and then “Create a new account”.

Check your email inbox for a link to confirm your sign-up.

2. Deposit ETH into your YangDAO wallet

When you create a new account, a new YangDAO Ethereum address will be created. This allows you to use the YangDAO app and manage your funds on multiple authenticated devices without needing a Web3 wallet such as MetaMask. Click the “Accounts” button on the bottom right.

Copy the new YangDAO address created with your account and send at least 0.1 ETH to it to cover wallet deployment and future transaction fees. You can withdraw the ETH at anytime.

On the top left of your Accounts page, you will see a YangDAO wallet address that was created with your account. To deploy your wallet, send at least 0.1 ETH to your new YangDAO address. This should be enough to cover the wallet deployment and future transaction fees incurred during proposal submission, voting, and ragequitting. You can withdraw your remaining ETH at anytime.

3. Deploy your YangDAO wallet

With ETH in your YangDAO address, you can now deploy the wallet.

After clicking “Deploy”, you should see the pending transaction on your Accounts page along with an Etherscan link to verify the transaction.

Your YangDAO wallet is only accessible using approved device-browser pairs, reducing the risk of unauthorized access to your YangDAO shares and funds. Initially, this is only the browser and device that you used to create the account.

E.g. If you created your YangDAO account in Chrome on Macbook, you will not be able to access it in Safari on the same Macbook or in any browser on another device until you add them to the list of authorized device-browser pairs.

Once you have deployed your wallet, it is recommended that you approve other device-browser pairs by clicking “Approve a New Device” on your Accounts page.

The following steps are not required if you have already pledged using DAOHaus.

4. Deposit DAI

Send DAI to the same YangDAO wallet address you deposited ETH into. This will be used for the YangDAO membership pledge, which requires a minimum of 40 DAI (1 DAI per share). You can swap ETH for DAI on Uniswap.

Send DAI to your YangDAO wallet to be used for your membership application.

5. Approve the DAI to the YangDAO

Once the DAI is in your YangDAO wallet, approve it to the DAO. This allows the DAO to access your funds during the membership application.

Click “Approve DAI” and enter the amount of DAI you wish to pledge.

4. Have an existing YangDAO member apply on your behalf 🙋‍♀️🙋‍♂️

Use this form to submit your YangDAO wallet address to the YangDAO summoner. The summoner will then apply on your behalf, requesting 1 share per DAI you approved.

Alternatively, if you know an existing member of YangDAO, you may share your address with them and they can submit a proposal on your behalf.

5. Wait for YangDAO members to vote on your proposal 👍👎

When your proposal has been submitted, you will see it on the proposals page. There will be a 7-day voting period during which existing members will vote on whether or not to accept you into the YangDAO.

The voting period will be followed by a 7-day grace period. The grace period is safety mechanism designed to allow members time to ragequit and leave the YangDAO, in case there is concern that a vote is being gamed 🤔.

6. Damn It Feels Good To Be A Yangsta 🔥

If a majority of votes support your proposal at the end of the 7-day grace period, you will automatically become a member of the YangDAO 🐣.

You can now view other proposals, vote on them, submit a proposal, and ragequit. Members can always pledge more DAI and submit proposals to receive additional shares. We go over these topics in the next article: Funding Proposals, Voting, and Ragequitting.


Visit YangDAO.org to enlist ✊ or join the discussion on Twitter and Telegram 💬. You can read our announcement post here.

You’re adopted (by the Yang Gang)

The YangDAO is a clone of the 👹 Moloch DAO, differing only in terminology. For a detailed technical explanation of how the DAO works, see the Moloch whitepaper / github. The YangDAO wallet is powered by Abridged.


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 will not make money by becoming a member of the 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.

YangDAO

Written by

YangDAO

A community DAO dedicated to collectively securing the bag in the name of the One and Only — yangdao.org

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade